Converted Organics, Inc. Secures Rhode Island Site for Second Organic Fertilizer...

Converted Organics, Inc. Secures Rhode Island Site for Second Organic Fertilizer Facility

New Facility Will Significantly Increase Company's Ability to Meet
Growing Product Demand
BOSTON--(Business Wire)--Converted Organics Inc. (NASDAQ:COIN) announced today that they
executed an Option to Lease with the Rhode Island Resource Recovery
Corporation (RIRRC) to build a state-of-the-art organic fertilizer
facility in Johnston, RI. The Lease Option represents the second such
contract secured by Converted Organics in two years; the company's
first facility is under construction in Woodbridge, NJ.

"The option to lease the Rhode Island property for development of
Converted Organics' second facility represents a significant milestone
for our company," said Ed Gildea, President, Chairmen, and CEO of
Converted Organics, Inc. "Converted Organics is now exceptionally
well-positioned at the cross-roads of three significant global
economic trends: the explosive growth in organic farming, the critical
need for sustainable solid waste recycling solutions, and the
overwhelming demand for green technology investment opportunities."

Converted Organics will construct a 40,000 square foot facility
for the processing of organic materials, such as food waste, into
liquid and solid fertilizer products for the retail, turf management,
and agribusiness markets. At full capacity, the facility will process
up to 200 tons per day, or 60,000 tons annually. The facility will be
located on the grounds of RIRRC's property, which also houses the
state's only active municipal landfill. Material that would otherwise
be deposited in the landfill will be diverted to Converted Organics'
new facility. Converted Organics anticipates that the facility will
begin operations in 2009.

The new facility will increase the recycling rate within the State
of Rhode Island, while also extending the life of the landfill by
eliminating 10-15 percent of the waste currently being deposited
there, and will aide in preventing associated increases in greenhouse
gas emissions.

"This facility represents an important partnership between
Converted Organics and RIRRC, and is the first of several municipal
development projects our company has underway," said Mr. Gildea. "We
are excited that our partnership with RIRRC will not only will help
Converted Organics satisfy the significant demand for our products,
but also bring multiple new jobs to the Johnston community."

About Rhode Island Resource Recovery Corporation

The Rhode Island Resource Recovery Corporation is the state
environmental agency dedicated to providing the public with
environmentally sound programs and facilities to manage solid waste.
The agency funds and manages the state's recycling program, and owns
and operates the Central Landfill and Materials Recycling Facility in
Johnston, Rhode Island.

Created by the Rhode Island General Assembly in 1974 as the Rhode
Island Solid Waste Management Corporation, the corporation changed its
name in August, 1996. Although not a department of the state
government, RIRRC is a public corporation and a component of the State
of Rhode Island for financial reporting purposes. To be financially
self-sufficient, the agency earns revenue through the sale of
recyclable products, methane gas royalties and fees for its services.

RIRRC, in partnership with grocery stores in R.I., has developed a
unified, free recycling program for plastic bags and plastic film.
The stores, from large national chains to neighborhood markets, are
members of the Rhode Island Food Dealers Association, which endorsed
the recycling effort and promoted participation. Known as "ReStore,"
the program offers Rhode Islanders the opportunity to recycle their
plastic film bags. Collection barrels are located at participating
grocery stores. Since all plastic bags are eligible for recycling, it
doesn't matter what name-brand bags are deposited in the barrels.
Consumers can recycle all types of plastic film including plastic
newspaper sleeves, dry cleaner bags, and produce baggies.

About Converted Organics Inc.

Converted Organics (NASDAQ: COIN), based in Boston, MA, is a
development stage company dedicated to producing valuable all natural,
organic soil amendment or fertilizer products through food waste
recycling. The company uses proven, state-of-the-art technologies to
create a product that helps grow healthier food and improve
environmental quality. Converted Organics plans to sell and distribute
its environmentally-friendly fertilizer products in the retail, turf
management, and agribusiness markets.

Converted Organics' fertilizer products will be produced in both a
dry pellet and liquid concentrate. Converted Organics products have
been tested in numerous field trials for more than a dozen crops with
the result that, on average, the net value of the farmer's crop
increased 11-16%, depending on the particular crop and product
application. This is due, in part, to the disease suppression
characteristics of the product, which reduce or eliminate the need for
other costly, often toxic, crop protection applications. Increased use
of nitrogen in commercial agriculture and turf grass applications,
such as golf courses, has reduced the soil's ability to absorb
nitrogen and other nutrients. Using the products produced by Converted
Organics helps restore the soil by replenishing these micronutrients.
This reduces the amount nitrogen required in a virtuous cycle that
benefits from long-term use. As a result, use of the product will
reduce chemical run-off to streams, ponds and rivers, an objective
with significant long term benefits to the environment.

The products have a long shelf life compared to many other organic
fertilizers. In a number of lab and field trials, the liquid product
has been shown to be effective in mitigating powdery mildew, a leaf
fungus that effects most plants and grasses and restricts the flow of
water and nutrients to the plant. The Company's fertilizer products
can be used on a stand-alone basis or in combination with more
traditional fertilizers and crop protection products. Converted
Organics expects to benefit from increased regulatory focus on organic
waste processing and on environmentally-friendly growing practices.

This press release contains forward-looking statements that are
subject to risks and uncertainties. These forward-looking statements
include information about possible or assumed future results of our
business, financial condition, liquidity, results of operations, plans
and objectives. In some cases, you may identify forward-looking
statements by words such as "may," "should," "plan," "intend,"
"potential," "continue," "believe," "expect," "predict," "anticipate"
and "estimate," the negative of these words or other comparable words.
These statements are only predictions. One should not place undue
reliance on these forward-looking statements. The forward-looking
statements are qualified by their terms and/or important factors, many
of which are outside the Company's control, involve a number of risks,
uncertainties and other factors that could cause actual results and
events to differ materially from the statements made. The
forward-looking statements are based on the Company's beliefs,
assumptions and expectations of our future performance, taking into
account information currently available to the Company. These beliefs,
assumptions and expectations can change as a result of many possible
events or factors, including those events and factors described in
"Risk Factors" in the prospectus, not all of which are known to the
Company. Neither the Company nor any other person assumes
responsibility for the accuracy or completeness of these statements.
The Company will update the information in this press release only to
the extent required under applicable securities laws. If a change
occurs, the Company's business, financial condition, liquidity and
results of operations may vary materially from those expressed in the
aforementioned forward-looking statements.

COIN-G

PR Financial Marketing
Jim Blackman, 713-256-0369
jim@prfmonline.com

Copyright Business Wire 2008