ZCL Composites Inc. Acquires Assets of Durex Steel

May 31, 2004

Edmonton, Alberta May 10, 2004... ZCL Composites Inc. is pleased to announce that it has been awarded a six-year contract by Imperial Oil to supply fibreglass tanks and related products for use in its operations across Canada. The contract covers the period May 1st, 2004 to April 30th, 2010.

Imperial Oil has been one of ZCL’s largest customers and a cornerstone of the Company’s business in Canada for many years. ZCL has secured supply agreements with most of the major and independent oil companies in Canada and, through these long-term relationships, has become the industry leader in underground fuel storage.

“Contracts such as these are an expression of confidence in ZCL and our ability to consistently supply the high quality products and services that our customers value,” says Ven Côté, President & CEO. “We are committed to delivering the highest levels of service and value to our customers and this contract is evidence of the long term benefits of successfully meeting that commitment.”

ZCL Composites Inc. trades on the Toronto Stock Exchange under the symbol “ZCL” and is Canada’s largest manufacturer of fibreglass 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