First Phoslock Order. IMT is delighted to announce that the...

First Phoslock Order.
IMT is delighted to announce that the first order for a commercial quantity of Phoslock has been received from the authority responsible for the remediation of Lake Dianchi in China.
The Kunming Municipal Management Bureau of Lake Dianchi (KMMB) and IMT’s joint venture company, IETC, have signed an agreement for an initial order of 5,000 tonnes of Phoslock for the treatment of rivers and sewage treatment plants in and around Kunming, Yunnan.
The agreement specifies if the results of the initial order are successful further orders will be placed. IETC will commence river treatments adjacent to Lake Dianchi during May 2004.
This will be to confirm the Phoslock produced in China will reduce the phosphorus level in treated sewerage to no more than 0.1mg/l (which Phoslock in all other treatments has achieved) and that the turbidity of the water reaches the Chinese Second Level Standard.
The 5,000 tonnes of granular product will be delivered progressively over a period of 10 months, commencing in May, 2004.
The supply price will result in a very satisfactory profit margin being derived. The contract will generate total revenue for IETC of several million dollars.
IMT owns 20% of IETC. IMT will be entitled to royalties from IETC from the KMMB contract (as well as all other contracts) based on tonnes of Phoslock sold.

Factory Completion.
IMT has had for the last few weeks a number of personnel in the Kunming and Lake Dianchi area assisting in the commissioning of the factory. Commencement of production is expected to commence in early April, 2004. For further details, please contact Brett Crowley, CEO, on 02 96980622.