PRESS RELEASE

Precision IBC, Inc to Construct New Headquarters in Fairhope

Fairhope, AL (April 2003) - Precision IBC, Inc., of Fairhope, Alabama has awarded the construction contract to Whitespunner Construction Company on April 12, 2003 for the construction of their new headquarters facility in the Fairhope Industrial Park. The 17,000 square foot building will include executive offices, administrative, data processing and an R & D facility. The 1.4 million dollar facility will be completed in December 2003. Lanny Russell, DPF Architects of Mobile designed the new facility. Advisers for the project included Sam Irby, Attorney, Xavier Hartmann of Hartmann, Blackman & Kilgore, Andy Shaddix of SouthTrust Bank and Jeremy Milling of Cummings and Whitespunner. Precision IBC will occupy the facility under long-term lease from the owner, V. Palmer Finger of Strenuus Properties, Nashville, Tennessee.

Precision IBC is a portable tank leasing and fleet management company providing returnable, re-usable liquid and dry bulk packaging to the custom chemical, food, cosmetic and petro-chemical industries nationwide. Additional Precision IBC facilities include a distribution facility in Broussard, Louisiana.

The new facility will be constructed adjacent to the BF Goodrich Aviation facility on McGowin Drive and Hwy. 98.

Submitted by
Van P Finger, President
Precision IBC, Inc.
P O Box 1171
362 Commercial Park Dr.
Fairhope, AL 36532
www.precisionibc.com
Phone 251-990-6789
Fax 251-990-6787

# # #