FOR IMMEDIATE RELEASE
Nofire Technologies A-18 Fire Retardant Marine Paint Approved By U S Coast Guard For Use On All Ships
UPPER SADDLE RIVER, NJ, May 4, 2000-Responding to the new and stricter fire codes of the SOLAS Regulations of the International Maritime Organization (IMO) for all civilian ships, NoFire Technologies announced successful completion of the fire tests and approval for NoFire A18 Marine Paint by the U.S. Coast Guard.
The fire tests, conducted at Southwest Research Institute, an approved Coast Guard laboratory, were conducted according to IMO Resolution A.653(16)and MSC.14(64), the new flame spread, smoke and toxicity standards required by the SOLAS (Safety of Life at Sea) codes.
As a result of successful completion of this program, NoFire A18 Marine Paint has been approved by the U.S. Coast Guard as well as American Bureau of Shipping (ABS), Det Norske Veritas (DNV) and Lloyd's Register, the major international shipping classification societies. In addition, the NoFire A18 Marine Paint has been issued a Mark of Conformity-EC by DNV qualifying its use in the European community.
Fire on board ships at sea is the most devastating of disasters and has plagued the shipping industry for centuries. "The tough new fire safety requirements of The SOLAS Code will go a long way to reduce the perils of such fires" said Robert Isen, CEO of NoFire Technologies, Inc. "and NoFire's high performance product will allow all ship owners and ship businesses to take immediate steps to reduce the hazards of fire. We believe that our A18 Marine Paint opens an exciting global market for our company."
NoFire Technologies, Inc. is a manufacturer of high performance fire retardant products and systems that offer superior protection against heat and fire for applications in the construction, telecommunications, nuclear power plants, utility, automotive, marine, military, and housing industries. The company's stock is quoted on the OTC Bulletin Board with the symbol NFTI.
Cautionary Statement Regarding Forward-Looking Statements Certain information contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Act of 1995 (the "Act"), which became law in December 1995. In order to obtain the benefits of the "safe harbor" provisions of the Act for any such forward-looking statements, the Company wishes to caution investors and prospective investors about significant factors, which among others, have in some cases affected the Company's actual results and are in the future likely to affect the Company's actual results and cause them to differ materially from those expressed in any such forward-looking statements. Investors and prospective investors should read this press release in conjunction with the Company's most recent Form 10-K and Form 10-Q.