<B>Hi-Rise Recycling Sees Strength</B>

Hi-Rise Recycling Systems reported sales and revenue for the three months and six months ended June 30. Revenue for the second quarter rose to $18.3 million compared to $16.9 million for the second quarter of 1999, an increase of 9 percent over last year. Earnings for the second quarter of 2000 were $21,000, compared to $1.1 million. Earnings before interest, taxes, depreciation, and amortization for the quarter were $2.1 million.

Revenue for the six months ended June 30, 2000 increased to $34.2 million compared to $29.1 million for the six months ended June 30, 1999, an increase of 17 percent. Net loss for the first six months of 2000 was $591,000 compared to a profit of $2.1 million for the six months ended June 30, 1999. The year to date loss is primarily attributable to non-recurring expenses associated with acquisitions which the company elected not to complete based upon initial due diligence and changes in financing conditions. e EBITDA year to date is $3.4 million.

Don Engel, CEO of Hi-Rise Recycling, states ``We are growing our company as evident by our EBITDA increase of over 83 percent from last quarter. We still believe we will meet our forecasted sales revenue of $75 million this year, an increase of over 26 percent compared to 1999. We hope to demonstrate within the next few quarters substantial increased profit since we have concluded our one-time non-recurring expenses.''