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Beluga Composites Forms New Joint Venture in Philippines

10 October 2005

Beluga Composites, manufacturer of FRP underground flammable-liquid storage tanks, has formed a joint venture partnership with TW & Co. La Germania creating Beluga Composites Inc. Taguig City, Philippines.

""The Joint-Venture with TW & Co. La Germania, although definitively announced today, has been essentially in operation for the last several months,"" said Dean Panofsky, Chairman of Board, Beluga Composites Corporation. ""Our Joint Venture will manufacture all Beluga products, single wall and double wall fibre glass reinforced plastic (FRP) underground storage tanks and oil/water separators for all of the major petroleum companies for the Philippines market.""

""Strategically and culturally, La Germania is a perfect fit for Beluga Corporation"" said Mr. Frederick TE, President of La Germania. ""Mr. Panofsky has successfully leveraged Beluga's proprietary technical manufacturing processes and UL Certifications as key assets which when added to La Germania's seasoned manufacturing infrastructure, positioned us most favourably to fill current and future orders with Beluga's major oil company contracts.""

Beluga Composites are one of few companies in the world (along with ZCL Composites) which own the technology that has earned both of the Underwriters Laboratories' UL1316 and ULC-615-S certifications for fibre glass reinforced plastic (FRP) underground storage tanks for petroleum products.

Obtaining both certifications is significant as most major oil companies are more likely to place orders for Underground Storage Tanks (USTs) with manufacturers that are certified with Underwriters Laboratories UL1316 and meeting the EPA's mandated guideline compliancy requirements for Underground Storage Tanks.