Solucorp Industries Issues Corporate Update FT. LAUDERDALE, Fla., July 22 /PRNewswire-FirstCall/ -- Richard Runco, President of Solucorp Industries, Ltd., (OTC:SLUP) is pleased to provide an update on the progress of the Company's activities: GeoNova/East Providence Project: $1,457,148 of demolition and remediation work has been completed to date. Included in the above figure is approximately $300,000 of commissions and other fees collected and billed by "the Company". The Ocean State Steel plant has been removed in its entirety from the site and heavy metal contaminated soil remediation work continues to be treated successfully. On December 4, 2003, Solucorp Industries Ltd. announced its licensee, GeoNova's groundbreaking ceremony for the East Point Development Project, its first "Brownfield" Project. The project as noted by GeoNova and the City of East Providence calls for a New England style village with 35 single-family homes, 40 townhouses, 70 row houses and 294 multiple family dwellings. The village will also have 75,000 square feet of commercial space for such things as restaurants, retail shops, a marina, offices, etc, employing at least 108 people. Judgment Against Environmental Waste Technology (EWT): Solucorp was awarded a $900,000 default judgment against Environmental Waste Technology (EWT) by the Superior Court of Massachusetts. The judgment award includes monies owed Solucorp plus interest and penalties, for work performed at the Newton Creek and the Boston Central Artery projects, where EWT was acting as General Contractor. Solucorp is uncertain as to the collectability of the judgment and is awaiting recommendations from its attorneys. Savage Range Systems: Solucorp has already shipped product to select Savage Range Systems clients for inclusion in their bullet traps creating the first self-remediating gun ranges. On May 26, 2004, IFS announced that its Integrated Fixation System Company subsidiary had signed a contract with Savage Range Systems to produce the world's first self-remediating and environmentally safe gun range system. Savage has commenced and will continue to offer the Integrated Fixation System product to all of its existing and future customers including the U.S. Military. Savage Range Systems reported to the company that it is planning a full-scale product launch for this fall. Massachusetts Highway -- On January 15, 2004, Solucorp announced its technology was approved for use in the remediation for two major roadways in Massachusetts and our licensee was therefore awarded a contract for the remediation work. The licensee reports that it has commenced work on the project site and that remediation activities are targeted for mid August of this year. Ravenna, Italy Project: Solucorp has received a written project schedule from Ambiente and Syndial. The schedule indicates "civil work", which includes environmental and governmental permitting on the site will commence in September of this year. Syndial has already received the Italian Ministry of the Environment approval to proceed with the clean-up utilizing Solucorp's patented MBS soil remediation process. Solucorp will tentatively receive the Contract/Purchase Order for review and approval by October/November of this year. As mentioned in the March 3, 2004 press release, the Ravenna Project is the first project that will be contracted as a result of the Exclusive Agreement signed between Ambiente and Solucorp Industries. Ambiente, a jointly owned Italian government and Syndial Company, is one of the largest environmental companies in the multi-billion dollar Italian market. The March 3, 2004 press release details additional information as to market size and government funds set up to clean up hazardous sites in Italy. From lengthy discussions, negotiations and proposals submitted, Solucorp has priced the Ravenna project at US $4.7 million as of this update. The actual projected revenues may vary and any changes will be the subject of an updated report. To review the original press releases in this update please visit http://www.solucorpltd.com/ or http://www.otcfn.com/slup. Financials: Solucorp has prepared its financials for an audit through year-end 2003 and has been interviewing certified public accountants over the past 8 weeks. Solucorp expects to make a selection and commence the audit shortly. The targeted time frame for the audited financial statements is late August through mid September 2004 at which time the company's attorneys will review the company's qualifications for listing on a national exchange. Efforts are being vigorously directed towards commercialization of Solucorp's and WITS (Waste Innovative Technology Solutions) patented products through the building of a strong sales and operations infrastructure. Along this line the following has occurred: Bill Seagraves President of WITS, has assumed the added responsibility for the Sales and Marketing of IFS products in addition to his WITS duties. IFS uses the MBS process to deal with pollution prevention rather than existing contamination. IFS has developed prototypes and commenced commercialization for integration into many types of consumer and industrial applications such as paint strippers, batteries, filters and ammunition. Mr. Seagraves has over 35 years of environmental experience. His family has owned and operated environmental service companies from 1950 with over 100 employees, selling one of their businesses to W.R. Grace in 1985. In 1998 the balance of the family businesses were sold to Earthcare Inc. (a Texas roll-up company). Tom Gus Gavrel and Ira Vinson will be responsible for the Sales and Marketing of the MBS (R) (Molecular Bonding System) products. MBS is an EPA "SITE" (Superfund Innovative Technology Evaluation) program technology, proven successful at the Midvale Slag Superfund site and on numerous other commercial applications. Messrs. Gavrel and Vinson both have extensive experience and contacts within the environmental industry. Ira & Gus are also inventors of patents for processes currently being used commercially in the environmental industry. Tony Nightingale will serve as Senior Vice President of Sales and Marketing of the WITS Company focusing on the sales and marketing of the patented Electrocoagulation Waste Water Treatment process. Mr. Nightingale has over 27 years of wastewater and water experience working for companies such as US Filter/Vivendi and Suez. Tony was responsible for sales management of a $26 million budget together with products and personnel from several different businesses and also spent 15 years in wastewater remediation sales in the United Kingdom. Dr. Ted Sall, PhD. has joined Solucorp as head of the companies scientific and technical staff. He is considered a valuable asset for the introduction of IFS Products to many industries and contacts for which he has been involved with over the past 40+ years. Dr. Sall has held numerous positions since 1955 including Professor of Life Sciences at Ramapo College, Senior Scientist at Radio Corporation of America Space Center/NASA Coordinator, Research Scientist at the New Jersey Department of Health and Director of Clinical Microbiology at the Metropolitan Hospital, New York Medical College. He has certifications from the American Board of Microbiology and the New York City Department of Health. Dr. Sall is a member of several societies including the American Association for the Advancement of Science, New York Academy of Sciences and the American Association of Clinical Chemists. He has been a director of among others DUSA Pharmaceutical, Inc., International Vitamin Corporation and Fluoroscan Corp. Among his other accomplishments are the publishing of approximately 100 articles in various scientific journals involving analytical chemistry, metal recovery via microbial activity, heavy metal chelation methods and infectious diseases. He has also provided consultation services to Biometallic Technology, Inc., New England Nuclear Corp., Barnert Hospital, St. Joseph's Hospital, New York Medical College and several others. Additional projects the Company is working on include: WITS has just completed a successful pilot project for a Heavy Equipment Manufacturer's cutting oil waste stream at its plant located in the Midwest. The objective was to use WITS' patented electrocoagulation technology (E.C.) to remove emulsified oil from the waste stream. Emulsified oil causes the Biological Oxygen Demand ("BOD") to reach levels that are unacceptable for discharge and results in the company producing the wastestream to pay excessive penalty surcharges which in turn negatively affects the company's profitability. The E.C. technology has been proven to be very effective in dramatically reducing BOD's in almost all industrial wastestreams. It is more economically efficient than chemical treatment, the traditional way of dealing with this problem. The visual results of the pilot test were encouraging and the analytical results from the lab are expected to result in a much lower BOD as has been the case in all prior applications of E.C. to BOD's. WITS then moved the Electrocoagulation pilot equipment from the above referenced site to a municipal wastewater facility in Indiana for a pilot project, which began July 20, 2004. The objective at the new site is to utilize the E.C. technology to remove copper from the final effluent before discharge. The city has repeatedly been above the designated limit for copper and believes, based on our prior results, that the E.C. technology will be instrumental in bringing them back into compliance with the state of Indiana's rules and regulations. Based upon previously compiled data on copper removal at other sites, in conjunction with the fact that the city of Keysville, Virginia has placed an order for the WITS E.C. technology specifically for the removal of copper, the client is confident that WITS E.C. technology will solve the problem. Solucorp President Richard Runco said, "We are pleased with our progress to date and look forward to continued success in the months ahead to the benefit of our valued shareholders." About Solucorp Industries Ltd. SOLUCORP is an innovative developer of superior metals remediation technologies. The Company develops environmentally-friendly technologies for the treatment and prevention of hazardous heavy metal contamination of waste streams. Solucorp owns two patents on its Molecular Bonding System (MBS(R)) technology, has applied for several patents including bullet traps, projectiles, paint strippers and filter material with its IFS technology and has received a notice of allowance from the Patent Trademark Office (PTO) for the main IFS patent application. The effectiveness of the Company's patented MBS is acknowledged by its successful completion of the U.S. EPA's Superfund Innovative Technology Evaluation (SITE) Program. MBS has proven to cost effectively and permanently remediate heavy metals contamination in soils and industrial wastes. MBS has been successfully used internationally in soil and other remediations as well as in the Company's preventative technology IFS (Integrated Fixation System). IFS delivers consumer product safety systems to manufacturing institutions, and can be applied to a multitude of hazardous pollutant sources that render them insoluble, and hence, non-hazardous, at the end of a product's life cycle. Consumer products targeted for IFS include: auto and household batteries, mercury switches, paint removers, electronic circuit boards and air emission and paint booth filters. For additional company information, visit: http://www.solucorpltd.com/. For updated investor information, visit: http://www.otcfn.com/slup. The foregoing discussion contains forward-looking statements, which are based on current expectations. Actual results, including the timing and amount of revenues recognized, contracts awarded and performed and net income may differ due to such factors as: delays in payment on contracts due to dealings with governmental and foreign entities; fluctuations in operating costs associated with changes in project specifications; economic and other conditions affecting the ability of prospective clients to finance projects; and other risks generally affecting the financing of projects. In March 2003, Solucorp settled a civil action by the SEC the details of which can be found on the SEC website, as such investors are cautioned to perform a proper due diligence and consult licensed professionals prior to making an investment decision. CORPORATE CONTACT: Brian Binckes 913-685-4530 DATASOURCE: Solucorp Industries Ltd. CONTACT: Brian Binckes of Solucorp, +1-913-685-4530 Web site: http://www.solucorpltd.com/

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