Financing Arranged and Merger Set for Completion

Bradley T. Aelicks, President/Director of Napier International Technologies Inc. reports that arrangements have been made for both financing and acquisition closing terms for the completion of the Bio-Wash/Napier transaction, subject to regulatory approval. The strong financial position and sustained growth of both companies will permit the merger to close with significantly less dilution than originally contemplated.

As a result, the Bio-Wash shareholders have indicated a desire to reduce the cash component of the acquisition from $3.0 million to $1.0 million in exchange for an additional 2.0 million shares of Napier. The cash payment will be structured to optimize the working capital of the company with $500,000 payable on closing (approximately November 26, 1999) and a second payment of $500,000 due on March 31, 2000.

Napier is also pleased to announce that, subject to regulatory approval being obtained, it has arranged a $2.3 million financing by way of a brokered private placement for the issuance of $2.0 million units at $1.15 per share with a 1/2 share purchase warrant to acquire an additional 1.0 million shares at $1.26 per share for a 1 year period. Napier will pay up to a 7% commission to European brokerage firms that have arranged the financing with institutional investors.

Bio-Wash and Napier have independently established themselves as leaders in environmentally friendly coatings and coating removal systems. The unique technologies within both companies have already attracted distribution partners like ICI Paints, Revy Home & Garden, Benjamin Moore, and Wattyl U.S.A., to name but a few.

Additional information can be found on corporate websites: www.napierintl.com and www.biowash.com