Plasma Environmental Technologies Inc.

Plasma Environmental Technologies Inc.

August 16, 2007 12:08 ET

Plasma Environmental Technologies Inc.: Change of Name and Share Consolidation

TORONTO, ONTARIO--(Marketwire - Aug. 16, 2007) - Plasma Environmental Technologies Inc. (TSX VENTURE:PE) announces that it received TSX Venture Exchange approval to change its name to Blue Vista Technologies Inc. and consolidate its common shares on a on a 1 for 10 basis (1:10). The 36,270,014 previously issued and outstanding common shares of the Company will be consolidated into approximately 3,627,001 common shares.

Effective August 17, 2007 the common shares of the Company will commence trading on the TSX Venture Exchange under the symbol "BV" on a consolidated basis.

The Company continues to develop and markets plasma-based systems for the safe and cost-effective destruction of hazardous wastes and is investigating strategic alternatives, which may or may not involve a change of business, in order to enhance shareholder value.

Shares Outstanding: 36,270,014

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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