ZCL Composites Inc. still one of CANADA’S 50 BEST MANAGED COMPANIES

For Immediate Release

Edmonton, Alberta January 17, 2005... ZCL Composites Inc. is proud to announce that it has re-qualified as one of CANADA’S 50 BEST MANAGED COMPANIES. The Company will be honoured at the awards gala, to be held in Toronto on January 24th, 2005. ZCL was a winner of this prestigious award in 2003, and has re-qualified for the award in 2004.

Ven Côté, founder and President and CEO of ZCL says, “We believe the strength of our team, coupled with our commitment to our customers, determines the success of our business. Through innovation and constant improvement, we strive to be the best. This esteemed award, and the honour of qualifying for two years in a row, is shared with and celebrated by our entire organization.”

“The 2004 50 Best Managed winners are an exceptional example of Canadian owned and managed companies that have proven their remarkable ability and commitment to apply best practices to all areas of their business operations,” said James McSherry, Executive Vice-President and Managing Director, CIBC Commercial Banking, a national sponsor of the program. “These companies are clearly focused on delivering an exceptional level of service to their customers, and are committed to the continued innovation of products to stay ahead of the curve. The success of these winning companies is testament to the basic laws of business, that ‘the customer is always right’ and that success coincides with a company’s ability to ensure customers’ requirements are exceeded on a continual basis.”

Since its inception in 1987, ZCL’s focus has been to provide superior quality, environmentally safe, liquid storage solutions. The Company developed Canada’s first double wall fiberglass tank and continues to innovate with expanding product lines for many applications. ZCL remains committed to quality products, continually raising the standards for economical, environmentally safe and long lasting liquid storage technology. An un-matched warranty, proven quality and reliability have made ZCL “the preferred choice” in many market sectors.

About Canada’s 50 Best Managed Companies (www.canadas50best.com)

Canada’s 50 Best Managed Companies (50 Best) is a national awards program that recognizes the 50 Best businesses from a wide range of industries that have implemented world-class best business practices. The program, established in 1993 and entering its 12th year, annually recognizes 50 well-managed Canadian companies that must complete an extensive and in-depth interview process to asses and examine its management practices.

This national awards program is sponsored by Deloitte, CIBC Commercial Banking, Queens School of Business and National Post.

Information about Canada’s 50 Best Managed Companies 2004 is available online www.canadas50best.com.

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

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