16 March, 2004
NEWS RELEASE
AMEX “FSI” FRANKFURT “FXT”
FLEXIBLE SOLUTIONS ESTABLISHES DISTRIBUTION DIVISION
FOR SWIMMING POOL PRODUCTS
Focus On In-House Distribution Expected to Contribute to Accelerated Revenues in 2005
VICTORIA, BRITISH COLUMBIA, March 16, 2004 – FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (AMEX: FSI, FRANKFURT: FXT), the developer and manufacturer of environmentally safe water and energy conservation technology, today a nnounced that it has established a new distribution operation for its swimming pool products.
“An opportunity to significantly increase sales and revenues arose following the termination of our distribution agreement with an outside vendor for our Tropical Fish™ liquid pool blanket, stated FSI Chief Executive Officer Daniel O’Brien. “By switching to in-house distribution and selling directly, we anticipate a potential doubling of revenue in 2005 for our products targeting the residential swimming pool market, in addition to expected growth in unit sales.” Any revenue increase will be less evident in 2004 because the distributor already has processed preorders to ensure that retail stores are stocked for the upcoming summer swimming season, he added. For the year ended Dec. 31, 2003, sales of Tropical Fish totaled approximately $1.8 million. Over-all financial results for the Company will be released on or before March 31, 2004.
Flexible Solutions is renaming its Tropical Fish product Eco$avr as part of a new brand recognition strategy linking it to the Company’s Heat$avr commercial pool product and its patented Water$avr evaporation inhibitor targeting the broader municipal, industrial and agricultural markets. “The emphasis on environment, energy and water conservation will be better understood by current and new customers and ‘Eco’ will help promote our commitment to the environment and sustainable growth for the Company,” Mr. O’Brien said.
Eco$avr, packaged in the form of a colorful tropical fish filled with an environmentally safe evaporation retardant, can easily be tossed into a swimming pool. After it submerges to the bottom it slowly releases the evaporation inhibitor and creates an invisible layer on the surface of the water. Eco$avr’s patented technology does not affect the chemical balance (PH, chlorine, alkalinity) of the water and will not damage vinyl liners or any other pool surface.
The new distribution operation, based in Richmond, British Columbia, will have responsibility for all levels of the Company’s pool product sales worldwide and will be headed by Yves Campion, a marketing executive with experience in the swimming pool industry. Mr. Campion recently joined FSI after serving as Marketing Director at Beachcomber Hot Tubs Inc., since 2001, and from 1998 to 2001 was Marketing Manager, National Accounts/Brand Manager for BC Hydro, a Canadian utility company specializing in environmental technologies. Mr. Campion will focus on sales of residential pool products and will work seamlessly with David Katzov and Grant Moonie, co-heads of FSI’s commercial product sales. Mr. Campion holds a Masters Degree in Business Administration from Royal Roads University in British Columbia and a Bachelor of Commerce degree from Ryerson University Toronto Ontario.
“I look forward to balancing operational excellence with sales and marketing initiatives to maximize market opportunities for Flexible Solutions, a Company that makes a difference by focusing on environmentally sound technology that saves energy and reduces water evaporation,” Mr. Campion said. “Protecting the environment is a global challenge and individual homeowners can make a significant contribution to this effort by reducing heat loss and water evaporation in their swimming pools.”
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is the developer and manufacturer of Water$avr, the world’s first commercially viable water evaporation retardant. Its Water$avr division is based in Yorkville, Ill. FSI is an environmental technology company specializing in energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. Water$avr reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Water$avr, which is patented, has been certified by the United Nations, the National Sanitation Foundation (NSF) and meets the drinking water standards of the American National Standard Institute (ANSI). Heat$avr, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, also reduces humidity and lowers water heating costs, resulting in energy savings of 15% to 40%. The Company’s Tropical Fish(tm) product targets the residential swimming pool market.
Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a “Safe Harbor” for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company’s reports filed with the Securities and Exchange Commission.
THE WALL STREET GROUP, INC.
32 East 57th Street
New York, New York 10022
Tel: 212.888.4848
Investor Relations CANADA:
Jens Biertumpel
Tel: 604.682.1799
Corporate Head Office:
FLEXIBLE SOLUTIONS INTERNATIONAL
David Katzov / Grant Moonie
Tel: (250) 477-9821 Fax: (250) 477.9912