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Sherry Laboratories Expands in Lafayette, Louisiana with Acquisition of Petroleum Analyst, Inc.
September 30, 1998

Lafayette, Louisiana - Muncie, Indiana-based Sherry Laboratories, Inc. announced today the acquisition of Lafayette based Petroleum Analyst, Inc. and it's affiliated division, Analytical Standards. Sherry Laboratories is a wholly own subsidiary of Muncie based Ontario Corporation.

Effective immediately, Petroleum Analyst and Analytical Standards become a part of the nationwide, six-location network of Sherry Laboratories and functionally a division of Sherry Laboratories - Louisiana.

Founded in 1981 by Jerry Bernos, Petroleum Analyst provides the petroleum and petrochemical markets with chemical and physical testing of industry products. Serving as an independent third party, Petroleum Analyst is employed by both buyers and sellers to insure accurate product characterization and fair market value pricing of these industry products.

Also founded by Bernos, Analytical Standards produces certified calibration standards that are used by analytical laboratories in the industry to accurately calibrate the instrumentation employed in performing chemical analyses.

According to Ben James, President of Sherry Laboratories - Louisiana, "We are excited about the expanded capabilities that Petroleum Analyst and Analytical Standards brings to our growing national independent laboratory network. With the combined capabilities we gain from joining with Petroleum Analyst and Analytical Standards we can now offer a far more diverse range of services to our customers."

Mel Barnell, President of Sherry Laboratories national network, based in Muncie, adds: "Now Sherry Laboratories, Louisiana can work hand-in-hand with Petroleum Analyst and Analytical Standards to offer a complete evaluation package - a unique opportunity for our industry. We are very enthusiastic about the additional services we have just added to our growing national laboratory network."

Operations of both Petroleum Analyst and Analytical Standards will remain the same with Bernos as General Manager of Petroleum Analyst and Analytical Standards operations. Both current and new customers will continue to receive the highest quality and service available in the oil and gas analytical field.

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