Compositech Ltd. Reports Full Year Results

05 April 2000

Compositech Ltd., a developer of high tech laminates for the printed circuit board industry, today reported results for the year ended December 31, 1999. Total revenues for the year were $794,988, compared with $414,396 in 1998. The 1999 results reflect a basic change in our corporate strategy," stated Compositech Chairman and CEO Jonas Medney. "When we suspended manufacturing operations in December 1999 due to a lack of adequate financing, we decided to refocus our resources on locating suitable licensees, joint venture partners or purchasers for our technology. We are also exploring potential mergers and acquisitions or other strategic transactions. We have substantially reduced our overhead and are concentrating on the licensing program that we formally launched this month. Compositech Ltd. has developed innovative and superior copper-clad and fiberglass epoxy laminates used to make printed circuit boards, which are essential components of personal computers, workstations, data communications, Internet servers and telecommunications equipment.

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