PEAR Industries Projects Over $4 Million in Sales of its High Performance Resins

Business Wire, Jan 14, 1999

TORONTO--(BUSINESS WIRE)--Jan. 14, 1999--PEAR Industries(R), a wholly owend subsidiary of PEAR Technologies Inc. (OTC BB:PEAR) announced Thursday that it expects to deliver over 100 metric tons of their proprietary, high performance PEAR(tm) (PolyEther Amide Resin) during the next 12 months, representing projected revenues of over $4 million.

The company has received over 40 orders to date, representing well-known industry leaders in markets including aerospace, automotive, electrical, electronic, transportation, oil exploration and marine applications. Users in the aerospace industry alone include Boeing (NYSE:BA), Pratt & Whitney (NYSE:UTX), British Aerospace, Airbus and Rolls-Royce.

PEAR's advanced technology resins are incredibly strong, non-toxic and lightweight. They are resistant to fire, heat, chemicals, stress and are easy to form and fabricate. This makes them a perfect candidate for applications that include automotive components, aircraft parts, electrical insulation, circuit boards, semi-conductors, power generating components and uses with offshore oil pipeline development.

After 14 years and over $10 million in development costs, PEAR Industries offers the newest generation of advanced polymer resins that are superior replacements for traditional and more costly materials like steel, aluminum and plastics. PEAR holds the exclusive worldwide rights to PolyEther Amide Resin, which was originally developed by Ashland Chemical (NYSE:ASH) for use in strategic defense applications. PEAR has taken this technology and created a low-cost, versatile and superior alternative to traditional fabricating materials.

The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of the company, the occurrence of which involves certain risks and uncertainties that could cause the company's actual results to differ materially from expected results. Such risks include the timing of implementation and the scope and success of the program described here.