SECURITIES AND EXCHANGE COMMISSION Washington, D.C. SECURITIES EXCHANGE ACT OF 1934 RELEASE NO. 39937 / April 30, 1998 The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of over the counter trading in the securities of Solucorp Industries Ltd. ("Solucorp"), at 9:30 a.m. on May 1, 1998, and terminating at 11:59 p.m. on May 14, 1998. Solucorp, a Canadian company with its headquarters located in Nyack, New York, is engaged in treating and disposing of contaminated soil and in the development, marketing and licensing of products for use in environmental cleanups. The Commission temporarily suspended trading in the securities of Solucorp because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things: (1) the negotiation, existence and terms of contracts entered into by Solucorp or its licensees during the period July 1, 1995 through the present, including (a) a contract to perform remediation services at the Los Alamos National Laboratory in New Mexico which was expected to generate $50 million in revenues to a joint venture involving Solucorp and another party to the contract; (b) a contract which one of Solucorp’s licensees purportedly had obtained to remediate a site in Glasgow, Scotland and which, as of November 1996, was expected to generate $9 to $13 million in royalties to Solucorp; (c) a license agreement with Smart International Ltd. pursuant to which Solucorp purportedly accrued $500,000 and $1,090,000 in revenues during the quarter ended September 30, 1997 and the six- month period ended December 31, 1997, respectively, as reported in financial statements which were included in a registration statement and transition report filed with the Commission in December 1997 and April 1998, respectively; (d) contract negotiations between Solucorp and the Environmental Protection Agency during October 1997 to remediate a site in Utah; and (e) numerous other contracts which were announced in press releases during the relevant period and which were anticipated to generate revenues well in excess of those reported in Solucorp’s financial statements filed with the Commission in December 1997 and April 1998; and (2) revenues projected in press releases on August 27, 1997, October 24, 1997 and April 16, 1998. The Commission cautions broker dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company. Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to Solucorp’s securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotations which is in violation of the rule, the Commission will consider the need for prompt enforcement action. If any broker dealer or other person has any information which may be related to this matter, the Washington, D.C. office of the Securities and Exchange Commission should be telephoned at (202) 942-4705.