Napier Environmental Technologies Inc.: Second Quarter Results

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For Immediate Release

Napier Environmental Technologies Inc.: Second Quarter Results

CANADA, Aug. 2 -/E-Wire/-- Napier Environmental Technologies Inc. (TSE:NIR. - news) has released its June 30, 2001 quarterly financial results, including the interim financial statements and management discussion and analysis (MD&A;).

Complete copies of these documents may be reviewed on the Company's web site at www.napierenvironmental.com or may be obtained from the public records for Canadian securities regulatory authorities at www.sedar.com.

As at June 30, 2001, the Company's working capital was approximately $4.1 million, including sufficient cash and having sufficient liquidity to meet its foreseeable planned requirements. The second quarter sales were higher than the second quarter of 2000 by 1.5% and were the highest in Napier's history. While sales were less than management's expectations, due to seasonal business there was a significant increase in sales over the first quarter ($2.9 million versus $1.7 million). The operating loss for the quarter was $639,000 (cash loss of $553,000). The MD&A; referred to above provides further analysis and details of a number of management initiatives during thequarter.

Forward-Looking Statements:

This release and referenced materials contain forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause actual results to differ materially include: rapid technological and/or market changes in the industry; the ability to maintain and grow successful third party and customer relationships, to improve current products and develop new products, to adequately protect the company's proprietary rights and other factors described in the company's regulatory filings. Although we believe the expectations reflected in our forward-looking statements are reasonable, individual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

ON BEHALF OF THE BOARD OF DIRECTORS Clifford T. Davis, CEO and Chairman

The Toronto Stock Exchange neither approves or disapproves the contents of this news release which has been prepared solely at the discretion of management.

Napier Environmental Technologies Inc.

http://www.napierenvironmental.com

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