PRESS RELEASE –

25 June 2001 – Released to Public

Contact: Jules Radnaur

VP-Sales, North American Division

Han-Mar Heavy Industries

5, Avenue of the Americas

New York City, NY USA 10021

(519) 243-9790

HAN-MAR RELEASES ‘REARDON STEEL’ –

Han-Mar Heavy Industries of Bergen, Norway, announced today, the release of ‘Reardon Steel’. Han-Mar reports that it stands ready to deliver heavy tonnage of the rare metal to all parts of the globe. Han-Mar has contracted with Rolf Air of Stockholm, Sweden, to make the initial, preferred customer deliveries.

Reardon Steel, which to the eye has an emerald-like colorcast, is the strongest metal yet developed and is lighter than titanium. Han-Mar testing laboratories have demonstrated that the metal can withstand the highest man-made heat possible with temperatures above +4,000 – degrees C. Testing has also shown that Reardon Steel can be subjected to cold temperatures of –700 degrees C, twisted by a torque device and not break or shatter.

Han-Mar, taking a pre-existing metal formula, went a step further and developed a formulation of Reardon Steel that cannot be corroded either by natural elements or man-made acid and basic compounds. Developed by the late Hank Reardon of Pittsburgh, PA, the steel – long considered the ‘Holy Grail’ of metallurgy because of its difficulty to refine and fabricate – has been in limited use by the United States military. Han-Mar’s version of the steel can be utilized for manufacturing knives, sporting equipment, cars, military weapons, aircraft and ships.

Han-Mar Heavy Industries, noted world-wide for its ability to work with exotic metals on a profitable basis, developed a laser-enabled smelting system that literally bonds the various elements used in making Reardon Steel. The result is a metal that can be easily pre-formed for various applications without having to use the conventional iron-steel heating systems. Configured, focused groupings of four helium-argon-gold lasers do all the smelting, forming and cutting. The only human involvement in the process is the control center operations team.

Han-Mar projects that Reardon Steel will contribute heavily to the company’s financial activity and to its bottom line. Han-Mar was trading at 105 USD on Wall Street this morning.