GFCI Grifco International Inc (CE)

Grifco International, Inc. (OTC Pink Sheets: GFCI) announced today that it is negotiating with a major drilling contractor for four (4) Ko-Vac vacuum units. It�s anticipated that the contract be executed next week. Ko-Vac is a Grifco subsidiary located in Lafayette, LA. Ko-Vac provides vacuum service units and tanks for clean-ups and environmental applications in the oil industry. The Ko-Vac units are first class products with excellent service follow-up and support. Jim Dial, President, stated, �We are in negotiations for a second round of contracts with a major off-shore drilling contractor to fulfill all of its vacuum unit needs.� In order to meet growing demand, Ko-Vac is also negotiating a joint-venture with a pump company based in the Gulf Port Service Corridor. The new joint-venture has projected building 5 to 6 new vacuum units in the 1Q07. About Grifco International, Inc. Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industries throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco holds and owns design rights and manufacturing facilities for producing more than 6,000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton, Exxon Mobil Corp, and Schlumberger. For more information, please visit: www.grifco.org. Forward Looking Cautionary Statements Any statements that are not based on historical fact are forward-looking statements. Although such statements are based on management�s current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements.