EWMC AND CG TIRE ENTER INTO SHARE OPTION AGREEMENT
August 27, 1997
E.W.M.C. INTERNATIONAL INC. (CDN: EWMI) - Ajax, Ontario - August 27, 1997

E.W.M.C. International Inc.’s (EWMC) President, Mr. Thomas Fairfull, is very pleased to announce that EWMC has formed a new strategic alliance with CG TIRE, Inc., a wholly owned subsidiary of Continental General Tire Inc., Charlotte NC.

Continental General Tire Inc. is part of the world’s fourth largest tire manufacturer, with over $7 billion in worldwide sales in 1996 and more than 45,000 employees. North America contributed $1.3 billion in sales and includes 5 plants and more than 6,000 employees. The one year old subsidiary is a new venture to address the ever-mounting scrap tire problem in North America and to recycle old tires into new applications under environmentally friendly conditions.

CG TIRE’s President, Mr. Hans von Sachsen-Altenburg, is excited by this future-focused goal oriented step. He is confident that the output of the EWMC tire microwaving technology will meet a huge number of potential applications in the future. Realizing the potential in EWMC’s cutting edge technology, CG TIRE has entered into this strategic alliance to take a leap into the future. In addition to the potential tire-to-tire recycling system, which might be extended to multiple lifecycles, the recycled material may also be used in many ‘non-tire products’ requiring low cost carbon black as a major feedstock.

The option agreement grants CG TIRE the right to acquire up to 3 million common shares of EWMC over a two year period, or about 14% of the shares outstanding.

EWMC and CG TIRE are confident that this union is just the beginning of a profitable and advantageous relationship for the companies, customers and shareholders.

The EWMC Rubber Reverse Polymerization Processor uses the patented Emery Process to reduce rubber tires back to their original components—economically and without harmful toxic emissions. The pilot plant in Ajax, Ontario, has been in operation, on a demonstration basis, since September 1994, and has proven the effectiveness, the environmentally-friendliness and the viability of the process.

For Further Information Please Contact: Thomas Fairfull, President E.W.M.C. International Inc. (905) 686-8689 Hans von Sachsen-Altenburg, President CG TIRE, Inc. (704) 583-8624

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