U S Liquids Inc. Announces Agreement to Sell Two Companies

U S Liquids Inc. Announces Agreement to Sell Two Companies 


HOUSTON, March 4  /PRNewswire-FirstCall/ -- U S Liquids Inc. (OTC Pink Sheets:
USLQ) a provider of waste management services, today announced the signing of a
letter of intent to sell substantially all of the assets of USL Environmental
Services, Inc. d/b/a A&A Environmental ("A&A") of Baltimore, MD and U S Liquids
of Pennsylvania, Inc. d/b/a EMAX ("EMAX") of Pittsburgh, PA to Perma-Fix
Environmental Services, Inc. ("Perma-Fix"). Perma-Fix will pay in cash, at
closing, $3.2 million for the assets of A&A and EMAX, subject to a net working
capital adjustment.  The closing is subject to the completion of due diligence,
the execution of a definitive agreement, approval by the Board of Directors of
Perma-Fix and certain other conditions, all of which are expected to be
finalized during the first quarter of 2004. The two companies had unaudited
combined revenues of approximately $15.0 million in 2003.

A&A is a full line provider of environmental, marine and industrial maintenance
services.  A&A has been in business for over 45 years and was formed
specifically to meet the needs of today's environmental and plant managers.  A&A
offers expert environmental services such as 24 hour emergency response, vacuum
services, hazardous and non-hazardous waste disposal, ship and bilge cleaning
and other remediation services.  EMAX provides a variety of environmental
services through its field and industrial services group, such as transportation
of drums and bulk loads, tank cleaning, industrial maintenance, dewatering, drum
management and chemical packaging.  EMAX also has a wastewater treatment group,
which provides for the treatment of non- hazardous wastewaters such as
leachates, oily waters, industrial process waters, off-spec products and grease
trap waste.

This document contains forward-looking statements that are subject to certain
risks, uncertainties and assumptions.  Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those anticipated, estimated or
projected.  Key factors that could cause actual results to differ materially
from expectations include, but are not limited to:  (1) the Company's inability
to further extend its credit facility; (2) uncertainties caused by the Company's
failure to comply with the terms of its credit facility; (3) the impact that our
financial condition may have on its customers, suppliers and employees; (4) the
Company's general lack of liquidity; (5) the outcome of litigation and
administrative proceedings pending against the Company; (6) obtaining or
maintaining governmental permits and approvals required for the operation of the
Company's facilities; (7) changes in the laws and regulations governing the
Company's operations; (8) the failure to comply with laws and regulations
governing the Company's operations; and (9) the insufficiency of the Company's
insurance coverage or the impact of the insolvency of Reliance Insurance
Company.  These and other risks and assumptions are described in the Company's
reports that are available from the United States Securities and Exchange
Commission. 

DATASOURCE: U S Liquids Inc.



CONTACT:  William DeArman, Chief Executive Officer of U S Liquids Inc.,

[phone], or  



Web site:  http://www.usliquids.com/ 

Copyright