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Envirokare Tech Inc Joint Venture Arrangement

07 December 2000

Envirokare Tech Inc. announced the signing of a letter of intent with Thermoplastic Composite Designs Inc. (TCD) to enter into a joint venture agreement to manufacture products utilizing TCD's proprietary flow forming technology (TPF) process. Under terms of the letter of intent a formal agreement shall be negotiated no later than the first quarter of 2001. Envirokare and TCD believe the TPF process to be a genuine breakthrough in thermoplastic composite m other materials. Through a combination of resins and reinforcing fibers, the TPF system can tailor the mechanical and physical properties required. There is approximately 3 billion pounds of composite products manufactured each year in the United States and most of these are thermoset composites. In keeping with the Envirokare philosophy of producing environmentally responsible products, the TPF process does not emit any Volatile Organic Contaminants (VOCs), which are present in many thermoset composites. The TPF process also allows for the use of recycled as well as virgin thermoplastic resins, which may in turn be recycled. Envirokare's joint venture with TCD will expand the company's horizons far beyond its original business plan.