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LYCUS AND EDGEWATER ACQUIRE CORROSION INHIBITOR MANUFACTURER/WHOLESALER

July 26, 2004
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Lycus Ltd. LLC, a manufacturer of UV inhibitors located in El Dorado, AR, and Edgewater Capital Partners LP, Cleveland, have acquired P-Chem Inc., a Latexo, TX, manufacturer and wholesaler of petroleum corrosion inhibitors, H2S scavengers, and scale inhibitors.

Lycus Ltd. LLC, a manufacturer of UV inhibitors located in El Dorado, AR, and Edgewater Capital Partners LP, Cleveland, have acquired P-Chem Inc., a Latexo, TX, manufacturer and wholesaler of petroleum corrosion inhibitors, H2S scavengers, and scale inhibitors. The companies will maintain separate operating facilities under a newly formed company, Syrgis Performance Products LLC, based in El Dorado. Senior management will consist of James D. Hargis, president and CEO, John V. Swerengin, COO, and John A. Sinclair, CFO, secretary and treasurer. James R. Turn will continue as president of P-Chem Inc. The combined operations will have 70 employees and annual sales of approximately $30 million.

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