General Environmental Corp. Announces Signing of Letter of Intent to Acquire Enviro Safe Corp

Business Wire, March 16, 1998

DENVER--(BUSINESS WIRE)--March 16, 1998--General Environmental Corp. (NASDAQ:GNEV) announced today that it has signed a letter of intent to acquire Enviro Safe Corp. East Sandwich, Mass.

Enviro Safe has been in business since 1988. Enviro Safe is a Licensed Waste Transporter in Massachusetts, Rhode Island, and New Hampshire. Enviro Safe is also licensed to conduct emergency spill cleanups in Massachusetts and Rhode Island. Enviro Safe specializes in the cleanup, transportation and disposal of materials such as waste oils, gasoline contaminated soil, corrosives, solvents, waste paints and thinners.

Enviro Safe client list includes the United States Coast Guard, MASSPORT, United States Army Corps of Engineers, and corporations such as Monsanto, Polaroid, Mobil Oil Corp. and Cumberland Farms.

Enviro Safe will become a wholly owned subsidiary of General Environmental through a tax-free exchange of stock. Enviro Safe is expected to add $1.5 million in revenue to General Environmental Corp.

CONTACT: General Environmental Corp., Denver

W. Edward Nichols, 303/321-2986

Peter Cavallo, 781/740-0400