Italian Treasury Agency Agrees to Finance Plastics Recycling Enterprises In The South of Italy

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FOR IMMEDIATE RELEASE

Italian Treasury Agency Agrees to Finance Plastics Recycling Enterprises In The South of Italy

CALIFORNIA, OAKDALE, Feb. 13 -/E-Wire/-- Beechport Capital Corporation (OTC Bulletin Board: BEAH). IG-Sviluppo Italia s.p.a. the Treasury agency of Italy, has released the admission protocol for the funding of the "OPT International' proposal. "We've been working nearly two years with the government of Italy to evaluate and fund the sales of the ECO2 Environmental System. Having now received final confirmation from the Italian Government for funding, marks the last step in a long series of qualifications involving our technology and our General Plastics Development Program (GPDP),' said Mr. De Laurentiis.

With the finalization of this funding process now approved, all of ITec's prospective customers in Italy who have been waiting for such approval, are now free to move forward with their purchase order confirmations. This will serve to significantly increase Beechport's order backlog as well as guarantee the payment process from its customers.

"The subsidy approval process has now cleared the way for an additional $7 million in new orders for the company,' stated Gary De Laurentiis, Beechport's CEO. Mr. De Laurentiis also added, "This exciting development is the culmination of more than two years of collaborative effort between ITec and the Italian Government and continues to reaffirm their commitment to environmental causes. We are extremely pleased to have been selected as the flagship company under this program. This designation highlights the efficacy of our ECO2 Environmental System, the GPD Program and furthers our standing as one of the leaders in the field of plastics recycling technology.'

Mr. De Laurentiis further stated, "Beechport Capital through its ITec subsidiary has developed and is now commercializing, the next generation of plastics recycling technology that is cost efficient, profitable to operate and more importantly, environmentally friendly. Our proprietary closed-loop recycling system does not exchange one contaminant for another, but rather eliminates this inherent problem that is prevalent in existing technology. We are confident that, as our ECO2 Environmental Systems become commercialized in widespread form, they will become accepted as being the standard within the plastics recycling industry.

"With this program now approved, Beechport is now positioned as the dominant player in the oil-contaminated plastics recycling business in Italy. We expect to be able to satisfy the demand for our systems on a regular delivery basis beginning in the second quarter of this year and continuing on throughout 2003 and beyond. The orders that have been forthcoming from Italy alone should produce revenues in excess of $10 million. We have additional expressions of interest in our systems from many other countries including Hungary, Bulgaria, Romania, Greece and Turkey as well as several other European, Asian and North American countries. Our systems appear to be receiving overwhelming support from potential customers and for that reason we are confident that Beechport will able to fulfill its business plan on a timely basis. We look forward to consummate additional sales in the very near future,' concluded Mr. De Laurentiis.

About Beechport Capital

Beechport Capital is a holding company whose principal subsidiary is ITec International Technologies, an environmental technology and pollution control company. Beechport acquired ITec in May 2001 in a reverse merger transaction that resulted in the management of ITec acquiring a controlling interest in Beechport. ITec was incorporated in 2000 to develop and commercialize new pollution prevention and recycling technology that is economically and environmentally sound to solve the worldwide problem of recycling contaminated plastic, including plastic motor oil containers. Beechport, formerly located in Cleveland, is now based in ITec's headquarters in Oakdale, Calif. ITec is on the web at www.iteces.com.

Safe Harbor Statement

This press release contains certain "forward-looking statements' as defined under the Private Securities Litigation Reform Act of 1965, including statements concerning the anticipated delivery dates. This news release also contains forward-looking statements within the meaning of Section37A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual events or results may differ materially from those referred to in such statements. The company relies on third-party vendors to manufacture its system, not yet introduced commercially. Risks and assumptions include, but are not limited to, the ability of its vendors to manufacture and deliver a successful commercial version of its principal product, as well as the company's ability to generate customer demand, to achieve acceptable pricing, to respond to competition, to manage growth, to make timely payment on it outstanding obligations, and to manage regulatory and legislative developments that affect its system.

Beechport Capital Corporation

Beechport Capital Corporation, [REDACTED-EMAIL]

http://www.iteces.com

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