October22, 2008  
           

PRIMA NEGOTIATING SUPPLY ARRANGEMENT WITH

KING ABDULLAH ECONOMIC CITY IN JEDDAH, SAUDI ARABIA

 

Pursuant to News Release of October 2, 2008, Prima Developments Ltd. (the "Company") management announces that it is currently in talks through its distributor, Entech Coatings, with King Abdullah Economic City in Jeddah, Saudi Arabia (KAEC).   The President of Entech Coatings says, "KAEC is the first of three new city's envisioned by King Abdullah in Saudi Arabia which has attracted 35 billion in investment from global players".   The city is an hour's drive north of Jeddah on the Red Sea and is being built by Emaar Economic City, a subsidiary of Dubai's Emaar Properties, the first of four such developments.

 

Prima's proprietary products are ideal for this region and will deliver substantial reduced energy consumption; extends appearance life and stands up to wind driven sand and sea water.   This development covers over 388 square kilometers and by 2010 will have 10,000 housing units with only 10% of the project finished.

 

About Prima (PID)

 

Prima's subsidiary, ENVIROCOAT TECHNOLOGIES, manufactures and distributes the proprietary specialty Envirosmart coatings, known as Ceramic Insulcoat with Cerylium, throughout Canada and internationally, including the U.S.A. Years of successful R&D has produced a unique product which provides over 30 features and benefits including super adhesion, water and moisture management, heat penetration resistance, saving wasted energy.   Prima's model is designed to expand its share of this $85 billion global market through acquisition and association with strategically positioned distribution outlets located in over 70 countries.   Prima and its new partners are positioned for global distribution to the global multi-billion dollar market.

 

On Behalf of the Board,

 

Roland Langset

Roland Langset, President                     

 

This press release may include forward-looking statements; including statements relating to the Company's manufacturing capability, marketing strategy, future sales growth, profitability and competitive position.   The words "plan", "expect", "believe", "intend", "anticipate", "forecast", "target", "estimate", and similar expressions identify forward-looking statements.   Forward-looking statements are based on assumptions made by and information currently available to the Company.   Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected.   The Company does not undertake to review or update these forward-looking statements.

The TSX Venture Exchange has not reviewed and does not a ccept responsibility for the adequacy or accuracy of this release.


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