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Primary Energy Reports Improved First Quarter Results
Date:4/26/2010

f $1.8 million. This decrease is primarily due to the reduced level of debt outstanding offset by increased deferred finance fees during the first quarter of 2010.

Net loss for the first quarter of 2010 was $0.7 million compared to $5.1 million for the first quarter of 2009, an improvement of $4.4 million. The improvement was the result of the net effect of the items referenced above.

At the end of the first quarter, the Company's cash balance, not including the $3.7 million funded debt service reserve, was $23.0 million after making payments totaling $10.2 million that reduced outstanding senior debt balance.

The Company's full financial statements and Management's Discussion and Analysis are available at www.sedar.com or the Company's website at www.primaryenergy.com.

Conference Call and Webcast

Management will host a conference call to discuss the first quarter results on Tuesday, April 27 2010 at 10:00 a.m. (ET). Following management's presentation, there will be a question and answer session. To participate in the conference call, please dial 1.888.231-8191 or 1.647.427-7450.

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SOURCE Primary Energy Recycling Corporation
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