EXHIBIT 99.1
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Appliance Recycling Centers of America, Inc.
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7400 Excelsior Boulevard, Minneapolis MN 55426 (952) 930-9000
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For Immediate Release
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For Additional Information Contact:
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Edward R. (Jack) Cameron (CEO)
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952/930-9000
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Richard G. Cinquina
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Equity Market Partners
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904/261-2210
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Appliance Recycling Centers of
America (ARCA) Announces Extensions
Of Connecticut and San Diego
Energy-Efficiency Appliance Recycling Contracts
Minneapolis, MN—February 4, 2005—Appliance Recycling Centers of America, Inc.
(OTC BB: ARCI) today announced the 2005 extensions of two appliance recycling
programs sponsored by electric utilities in Connecticut and California.
The
Connecticut residential energy-efficiency program is jointly managed by The
United Illuminating Company and The Connecticut Light & Power Company. The
California program is sponsored by San Diego Gas & Electric.
As
previously reported, ARCA is also handling energy-efficiency appliance
recycling operations in 2005 for:
• Southern California Edison Company under
California’s Statewide Residential Appliance Recycling Program, which, combined
with the San Diego Gas & Electric program, serves the entire southern half
of California.
• Wisconsin Public Power, a statewide power
company owned by 37 municipalities that operate electric utilities serving
145,000 homes and businesses.
• Austin Energy, the nation’s 10th largest
community-owned electric utility, serving 360,000 customers within the city of
Austin and surrounding counties.
Edward
R. (Jack) Cameron, ARCA’s president and chief executive officer, said: “We are
very pleased to continue working with United Illuminating, Connecticut Light
& Power and San Diego Gas & Electric in 2005. ARCA’s growing revenues
in this area appear to signal a heightening awareness among states and
municipalities for cost-effective measures aimed at conserving energy. Backed
by our pioneering recycling processes and systems, we are well positioned to
capitalize on today’s renewed interest in residential energy efficiency
programs.”
About ARCA
ARCA is one of the nation’s largest recyclers of major household
appliances for the energy efficiency programs of electric utilities. In
addition, through its ApplianceSmart (www.ApplianceSmart.com) operation, ARCA
is one of the nation’s leading retailers of special-buy household appliances,
primarily those manufactured by Maytag, GE, Frigidaire and Whirlpool. These
special-buy appliances, which include close-outs, factory overruns, open
cartons and scratch-and-dent units, typically are not integrated into normal
distribution channels. ApplianceSmart sells these new appliances at a discount
to full retail, offers a 100% money-back guarantee and provides warranties on
parts and labor. As of January 2005, ApplianceSmart was operating 12
factory outlets: five in the
Minneapolis/St. Paul market; three in the Columbus, Ohio, market; two
in the Atlanta market; one in San Antonio, Texas; and one in Los Angeles.
Statements about ARCA’s outlook are forward-looking and
involve risks and uncertainties, including but not limited to: the strength of
recycling programs, the growth of appliance retail sales, the speed at which
individual retail stores reach profitability, and other factors discussed in
the Company’s filings with the Securities and Exchange Commission.
# # #
Visit our web site at www.arcainc.com