27 April 2006

Haverhill, MA, USA

In a new joint venture, Progression HTS-110, will provide customers with unique high temperature superconducting (HTS) magnet capability.

Progression, inc., a world leader in the development and implementation of process Nuclear Magnetic Resonance (NMR) technologies, Laser Induced Breakdown Spectroscopy (LIBS) techniques, and Laser Induced Fluorescence (LIF) analyzers for use in the mining, petrochemicals, and polymer/polyolefin industries, is pleased to announce a Joint Venture agreement with HTS-110 Ltd (Lower Hutt, New Zealand).
The new venture, Progression HTS-110, will provide its customers with unique high temperature superconducting (HTS) magnet capability. The new series of analyzer will operate at 80MHz with the field strength of 2 Tesla generated by a HTS magnet.
Target markets for the analyzer will include refining applications in the oil and gas industry, educational research and development, pharmaceutical and biochemistry applications.

Chief executive of Progression, Vaughn E. Davis, says the company is looking forward to working with HTS-110 Ltd and describes the deal as the perfect complementary vehicle to extend and build on the unique strengths of Progression's leading market position in process NMR.
Chief executive of HTS-110, Dr Sohail Choudhry, says it is a strategic move to partner with Progression and extend HTS-110's leading-edge technology into new markets.

"HTS is an advanced and rapidly developing new technology and we look forward to using that as a key driver for expanding the marketplace with Progression."
Progression is an innovative company and we share a similar culture - that will work to our advantage and allow us to benefit from both our unique and complementary skills.

It is anticipated the new company will be headquartered in Houston, TX under the leadership of Mr. Scott Simmons.