ZCL Composites Inc. Announces Normal Course Issuer Bid

July 8, 2003

Edmonton, Alberta July 8, 2003…ZCL Composites Inc. (TSX: ZCL) (the "Company") announced today that the Toronto Stock Exchange has accepted notice filed by the Company of its intention to make a Normal Course Issuer Bid.

The notice provides that the Company may, during the 12 month period commencing July 10, 2003 and ending July 9, 2004, purchase on the Toronto Stock Exchange up to a maximum of 885,846 common shares in total, being approximately 5% of the Company's issued and outstanding common shares. The price which the Company will pay for any such shares will be the market price at the time of acquisition. The actual number of common shares which may be purchased and the timing of any such purchases will be determined by the Company and all such shares purchased shall be cancelled. There are 17,716,920 common shares of the Company outstanding with the public float consisting of approximately 7,500,000 common shares.

The acquisitions of Mocoat Services Inc. ("Mocoat") and Parabeam Industries BV ("Parabeam") during the year, along with an increase in activity in the petroleum industry in the latter part of this year, contributed to the increase in revenue. Activity picked up in the downstream sector of the petroleum industry in the third quarter of this fiscal year, and on the upstream side late in the fourth quarter.

The Company believes that its common shares have been trading at a price range which does not adequately reflect their value in relation to the Company's assets, business and future business prospects. As a result, depending on future trading prices and other factors, the Company believes that the acquisition of its outstanding common shares in connection with the Normal Course Issuer Bid may represent a desirable use of a portion of the Company's available funds.

"During the year, we strengthened our financial position and brought in a partner that understands our business and shares our vision for the Company. We are now focused on the growth of our business through both internal expansion and acquisitions," says Ven Côté, President. "Activity in our key markets has improved over the last two quarters. We will further expand domestic and international markets for our tank manufacturing and lining technologies by leveraging our innovative industry leadership and customer relationships. With continued strength in our traditional markets, and growth of new products, we expect to significantly increase revenue and income over the next year."

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