Contract Win

Symphony Environmental Tech. PLC 29 April 2008 SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC Distribution and Manufacturing Agreement for the Middle East - Largest d2w(R) Volume Agreement to date Symphony Environmental Technologies Plc ('Symphony' or 'the Group'), the degradable plastics and waste-to-energy Group, is pleased to announce the completion of a Distribution and Manufacturing Agreement ('the Agreement') with the Fujairah Plastics Group ('Fujairah') of Sharjah, United Arab Emirates ('U.A.E.'), through its wholly-owned subsidiary, Symphony Environmental Limited. The term of the Agreement is 15 years and is exclusive for specific grades of newly developed d2w(R) degradable polymers to be distributed by Fujairah in the territories of the U.A.E., Bahrain, Kuwait, Oman, Egypt, Libya, Syria and Jordan. The Agreement is in two phases. The first, the supply phase, is expected to be for a period of up to 9 months, followed by the second phase, whereby Fujairah will commence its own production under licence. In the supply phase, Symphony will deliver d2w(R) polymers directly to Fujairah's newly established operating company in the U.A.E., Ecopolymers Company. A minimum commitment has been received from Fujairah for 500 tons of d2 w(R) polymer for delivery between 30th May and 20th August 2008. Once the production phase is established, Fujairah is expected to produce volumes of more that 500 tons of d2w(R) polymer monthly. The Agreement is the largest for the distribution of d2w(R) polymer to date. Khalid Al Kaabi, Managing Director - Fujairah Plastic Group (Sharjah) (U.A.E), said: 'We are very pleased to announce the completion of this milestone Agreement with Symphony for its environmentally responsible d2w(R) oxo-biodegradable plastic technology. Fujairah is one of the largest and fastest growing carrier bag producers in the U.A.E. and is concerned with the environmental effects of plastic pollution caused by littering. The demand for a competitive eco-friendly product is expected to be substantial and in the past week our volumes have nearly doubled with the award of a new contract by the Sharjah Co-operative for d2w(R) carrier bags. Our group is committed towards the protection of the environment and we will therefore be encouraging our customers to change to d2w (R) products. Fujairah has recently completed the construction of a new 100,000 sq. ft factory which will be the main operating base for the phase 2 production unit and are committed to invest heavily into equipment, marketing and distribution in the coming months. Fujairah will be taking a lead position in the supply of eco-friendly oxo-biodegradable plastic products and polymers' Michael Laurier, Chief Executive of Symphony Environmental Technologies plc, said: 'This Agreement formalises a business relationship that has existed for more than 4 years and sets the foundations for major expansion for both groups in the region. We are delighted to have completed this Agreement with Fujairah Plastics as it consolidates a major part of our Middle East marketing and distribution strategy. With the second production phase, product cost will reduce as volumes rise and stock turnaround times become more efficient. We are looking forward to working closely with Fujairah and to rapidly complete all phases of the project. We are honoured and delighted that Fujairah has chosen Symphony as its project partner. This ambitious new project will make a positive difference in helping to solve the problems associated with plastic litter that is so often written about but misunderstood. d2w(R) is designed to bring a low cost solution and without interrupting the long established supply chains.' For further information, please contact: Symphony Michael Laurier, CEO Tel: 020 8207 5900 Ian Bristow, FD HB Corporate Rod Venables Tel: 020 7510 8600 Further information on the Symphony Environmental Technologies Group of companies: SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC is a world leader in oxo-biodegradable plastic technology. The technology is recognised by the d2w(R) droplet logo on thousands of tonnes of oxo-biodegradable plastic products. In the last 12 months it is estimated that more than 5 billion plastic products have been made with Symphony's d2w(R) pro-degradant additives. Symphony has a diverse and growing customer base and has successfully established itself as an international business. Its d2w(R) products can already be found in more than 60 countries. Symphony is proud to be a member of the Oxo-biodegradable Plastics Association (www.biodeg.org). Symphony is also developing innovative waste-to-energy technology and is developing cost-effective processes to convert plastics, tyres and other waste streams into valuable products. Further information on the Symphony Group can be found at www.degradable.net This information is provided by RNS The company news service from the London Stock Exchange
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