ZCL Composites Inc. Acquires Parabeam

September 9, 2002

Edmonton, Alberta September 9, 2002.... ZCL Composites Inc. ("ZCL" or "the Company") is pleased to announce that it has completed the acquisition of 100% of the shares of Parabeam Industries B.V. ("Parabeam") from Gamma Holding N.V. in the Netherlands.

The purchase price was approximately $675,000 paid on closing. Gamma Holding N.V., a public company listed on the Amsterdam Stock Exchange, is a high-tech textile-based manufacturer.

Parabeam manufactures a three-dimensional glass fabric, also known as Parabeam, which is used by ZCL in the manufacture of double wall tanks and tank lining products. Parabeam operates from facilities in Helmond, Netherlands, and has 9 employees.

"While Parabeam did not meet the strategic objectives of Gamma Holding, the fabric is a key component of our products," said Ven Côté, President & CEO of ZCL. "This acquisition will ensure the supply of this raw material as we move forward with the expansion of our tank manufacturing and lining operations. It will also serve as a beachhead in Europe."

ZCL Composites Inc. trades on the Toronto Stock Exchange under the symbol "ZCL" and is Canada's largest manufacturer of fiberglass underground storage tanks. ZCL's complete fuel storage systems marketed under the "Prezerver" trademark carry a $2 million warranty against pollution.

For further information, please contact:

Venence G. Côté President & CEO ZCL Composites Inc. (780) 466-6648 ven.cote@zcl.com

Tony G. Barlott VP Finance & CFO ZCL Composites Inc. (780) 466-6648 tony.barlott@zcl.com