NatLUST Closes $10 Million Financing for Connecticut's LUST Program

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FOR IMMEDIATE RELEASE

NatLUST CLOSES $10 MILLION FINANCING FOR CONNECTICUT'S LUST PROGRAM

RICHMOND, VA & HARTFORD, CT, May 15, 2006 --/WORLD-WIRE/-- The National LUST Program Fund ('NatLUST') today announced that it had closed on a $10 million credit facility with JP Morgan Chase Bank, N.A. to launch its planned expansion into Connecticut. By providing low-cost immediate liquidity to tank owners and their environmental consultants, NatLUST will assist Connecticut's Department of Environmental Protection ("DEP") with its mission of accelerating the clean up of leaking underground petroleum storage tanks (known as "LUST's"), improving public health, and saving money for the state's taxpayers.

DEP also plans to introduce a voluntary program to expedite the processing and approval of some 1,100 'backlogged' claims totaling approximately $60 million. As these backlogged claims are approved, NatLUST will provide financing to any claimant or consultant who desires liquidity, increasing the size of its credit facility with Chase as needed.

Beginning this week, final forms and instructions should be available at www.natlust.org/forms.html.

NatLUST's expansion into Connecticut was in part made possible by DEP, which worked together with industry groups and the Connecticut Underground Storage Tank Review Board to pass legislation that clarified DEP's authority to send reimbursement payments on assigned claims directly to NatLUST. This statutory change will allow NatLUST to finance Connecticut's smaller station owners and consultants, not just larger firms.

Said Lindsay Trittipoe, NatLUST's President, "I would like to thank DEP's Commissioner Gina McCarthy and her staff, including in particular Michael Harder, Jacques Gilbert, Peter Kukiel, Dean Applefield, Paula McDowell, and Nancy Schweizer, all of whom worked hard to pull this together.

In addition, Michael Fox of the Gasoline & Automotive Distributors Association (GASDA); Chris Herb of the Independent Connecticut Petroleum Marketers Association ("ICPA"), P. J. Cimini of Capitol Strategies, A.J. Barr of Barr & LaCava, and Brian Freeman of Robinson & Cole all contributed significantly to the program's creation." Mr. Trittipoe added "Now that the Connecticut Financing has closed, look for NatLUST and JP Morgan Chase to make announcements in coming months about additional states and new financial products."

NatLUST was organized in 2005 as a non-stock, non-profit corporation for the purpose of providing low-cost liquidity to LUST fund claimants & consultants. NatLUST officially took over from Virginia's award winning Virginia Resources Authority ("VRA") Accelerated Claim Payment Program on February 1, 2005. By providing low cost liquidity, NatLUST helps LUST funds achieve their statutory goals, which typically include protecting public health and meeting EPA's requirement that regulated tank owners demonstrate financial responsibility. NatLUST has filed for 501(c)(3) certification.

CONTACT:

For NatLUST:
Lindsay Trittipoe
President
NatLUST
804.358.6661
lt@natlust.org

For Department of Environmental Protection:
Jacques Gilbert
860.424.3336
Jacques.gilbert@po.state.ct.us

Paula McDowell
860.424.3252
paula.mcdowell@po.state.ct.us

For GASDA:
Mike Fox
203.327.4773
mike@gasda.org

For ICPA:
Chris Herb
860.613.2041
chris@icpa.org

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