SOURCE: Ultra Pure Water Technologies, Inc.

November 01, 2005 07:00 ET

Ultra Pure Water Technologies, Inc. Announces Placement Commitment for 1000 "Ice Island" Machines From Noreast Capital Corporation

LAFAYETTE, LA -- (MARKET WIRE) -- November 1, 2005 -- Ultra Pure Water Technologies, Inc. (OTC: UPWT) (Ultra Pure) announced today that the company has received a commitment letter from Noreast Capital Corporation of Annapolis, Maryland ("Noreast"), pursuant to which Noreast has agreed to place as many as 1,000 of Ultra Pure's "Ice Island" machines in 2006. The Noreast placement letter complements the previously announced commitment from Noreast to finance no less than 5000 of the "Ice Island" machines during 2006. Noreast will utilize the "Fee Per Use" vendor management program developed specifically for Ultra Pure in the placement of the machines in 2006. The "Ice Island" system is a proprietary ice production unit manufactured by ICEX Holdings, Ltd., Inc. (ICEX), a wholly owned subsidiary of Ultra Pure.

The placement commitment is contingent upon the ongoing satisfactory performance level of the "Ice Island" system and the timely production, delivery and availability of the machines.

Jeff Kreis, Business Development Manager of Noreast, stated, "Noreast is pleased to partner with Ultra Pure in their nationwide rollout of the proprietary "Ice Island" system. Our financing commitment to Ultra Pure is now enhanced by our agreement to place as many as 1000 of the machines in markets which Noreast currently services through vendor financial relationships with convenience and grocery stores located in our region."

Daniel LeBlanc, President of ICEX, stated, "We are extremely pleased with the commitment from Noreast Capital Corporation for the placement of our "Ice Island" system. The Noreast financial commitment will not only allow Ultra Pure and ICEX to fulfill the orders for the "Ice Island" received to date, but their assistance in the placement of the "Ice Island" machines into markets currently serviced by Noreast will allow Ultra Pure to move forward with our aggressive marketing plan for the convenience and grocery store industries. The innovative financing program developed by Noreast Capital specifically for Ultra Pure has the flexibility to allow Ultra Pure to accept orders for the "Ice Island" throughout the United States in 2005/2006. We anticipate building a long and lasting relationship with Noreast Capital that will allow for the installation of "Ice Island" production units wherever the needs are justified to increase the profitability of ice sales at convenience and grocery stores throughout the continental U.S."

About Noreast Capital Corporation

Noreast Capital Corporation is a nationwide finance & leasing company that provides competitive financing for a broad array of business equipment and titled vehicles to customers ranging from small fledgling businesses to "Fortune 500" corporations. Noreast Capital, a leader in vendor financing programs, offers comprehensive leasing services to equipment manufacturers, distributors and software providers. Noreast Capital's extensive leasing knowledge and sales/finance expertise can help companies increase sales through user-friendly financing programs designed to meet each customer's individual needs. Noreast Capital Corporation is located in Annapolis, Maryland.

About ICEX Holdings, Ltd., Inc.

ICEX is a wholly owned subsidiary of Ultra Pure Water Technologies, Inc. with headquarters located in Lafayette, LA and a manufacturing support division located in Phoenix, AZ. The company manufactures a proprietary ice production unit known as the "Ice Island" system. The system is an on-site ice production, bagging, and storage unit. The patent-applied for technology totally automates production and packaging of ice products in a portable configuration installed at the customer's site. The target markets for the Ice Island system include convenience stores, grocery stores, hotels, resorts, hospitals and industrial complexes.

About Ultra Pure Water Technologies, Inc.

Ultra Pure Water Technologies, Inc. is engaged in the manufacture, sale, and rental of pure quality water purification equipment utilizing reverse osmosis filtration processes and water vending equipment. The company's products address various water treatment applications for commercial, residential, industrial, and institutional purposes. These applications range from providing purified drinking water through our reverse osmosis self-filling water coolers and under-the-counter systems to equipment for producing water for municipal systems with capacities exceeding 200,000 gallons per day utilizing desalination and reverse osmosis processing equipment.

Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Ultra Pure Water Technologies, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with changes in general economic and business conditions (including changes in technology), actions of our competitors, the extent to which we are able to develop new services and markets for our services, possible failure of products in the market for any number of reasons, the time and expense involved in such development activities, the level of demand, failure of patents to adequately protect our products, market acceptance of our services and changes in our business strategies and many others.

Contact Information

  • CONTACT:

    ICEX Holdings Ltd., Inc.
    Daniel LeBlanc
    President

    Ultra Pure Water Technologies, Inc.,
    310 E. Gloria Switch Road
    Lafayette, Louisiana 70507
    Telephone: 337.233-7317
    Facsimile: 337.233.7417
    Email: info@upwt.com
    Web site: www.ultrapurewatertechnologies.com
    www.upwt.com

    Noreast Capital Corporation
    Jeff Kreis
    Business Development Manager
    Annapolis, Maryland
    Telephone: 410.268.5588
    Web site: www.noreastcapital.com