NEW YORK, Nov. 14 /PRNewswire-FirstCall/ -- Quest Patent Research Corporation (QPRC) (OTC:QPRC) Today announced its acquisition of the exclusive worldwide rights to manufacture, sell and license for sale a new paint additive product that the Company believes offers significant advantages and improvements over similar products available in the industry today. The paint additive invention is a formula acquired from JL Products Development Inc. Under the agreement Quest will retain a minimum of 25% of all revenues generated as a result of sales made or royalties collected. The Company's share of revenues increases to as high as 40% should cumulative revenues exceed $43 million. The paint additive formula produces high quality industrial paint products which are typically used in outdoor applications such as bridges, pipelines and general infrastructure, as well as large marine and aviation coating applications. The entire coatings market was valued at $86 billion in 2005, according to the Global Coatings Report 2006 According to Quest's President, Jon Scahill: "We are very pleased and excited to close our first major acquisition since focusing our business efforts on securing new inventions and intellectual property rights. We believe this new paint additive invention, which Quest will control worldwide, will revolutionize the industry due to the fact that the new paint offers significant application efficiencies and equal or superior functional performance as other similar quality paints that meet the same criteria. The paint, therefore, should be extremely attractive to municipalities, contractors, shipping companies, airlines and others that seek an improvement in paint quality while at the same time achieving a long term cost savings. Prior to the acquisition, the paint product was thoroughly tested by the independent testing agency of KTA-Tator Inc. The Company was very pleased with the test results". The Company advised that it will seek patent protection for the invention. Safe Harbor Statement under the Private Securities Litigation Reform Act: Statements in this release that are not historical facts are forward-looking and involve a number of risks and uncertainties, including but not limited to the Company's limited operating history, uncertainties of market acceptance of products, uncertainties of new product development and other risks. Contact: Jon Scahill President & COO 888-743-7577 Ext. 82 http://www.qprc.com/ DATASOURCE: Quest Patent Research Corporation CONTACT: Jon Scahill President & COO of Quest Patent Research Corporation, +1-888-743-7577 Ext. 82, Web site: http://www.qprc.com/

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