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Perma-Fix Awarded Remedial Action Contract for up to $8 Million

ATLANTA, GA--(Marketwired - July 11, 2014) - Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced that it has been awarded a twelve month contract valued at up to $8 million to perform environmental remediation at a former industrial site located in Teterboro, New Jersey.

Perma-Fix will perform site and soil remediation consistent with a detailed work plan presently under review by state and federal regulatory agencies. The objective of the cleanup is to effectively manage and complete remedial actions, leaving the site with as few restrictions on future use as practical. 

Dr. Louis F. Centofanti, Perma-Fix Chairman and CEO, stated, "We look forward to supporting this important cleanup effort. Perma-Fix was selected based on our successful track record addressing the types of environmental conditions present, as well as our ability to cost effectively remediate the site."

The seven acre site has been undergoing remedial investigations and remedial actions since the Environmental Cleanup and Responsibility Act of 1988. Due to the conditions present, both the New Jersey Department of Environmental Protection (NJDEP) and USEPA have been involved.

Field work will begin in July 2014 and is scheduled to be completed by June 2015. Perma-Fix will perform the work under the oversight and direction of O'Brien & Gere Engineers, Inc. and their Licensed Site Remediation Professional pursuant to the remedial action work plan under review for approval by the NJDEP. 

About Perma-Fix Environmental Services

Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear and mixed waste management services. The Company's nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the DOE, the Department of Defense ("DOD"), and the commercial nuclear industry. The Company's nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide. 

Please visit us on the World Wide Web at http://www.perma-fix.com.

This press release contains "forward-looking statements" which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as "believe", "expects", "intends", "anticipate", "plans to", "estimates", "projects", and similar expressions. Forward-looking statements include, but are not limited to: value of the contract; completion date of the contract; and leaving the site with as few restrictions on future use as practical. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; U.S. and state governmental laws and regulations adopted from time to time; the government or such other party to the contract fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; that Congress and/or the applicable state authority fails to provide continuing and appropriate funding for this remediation project; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2013 Form 10-K and Form 10-Q for quarter ended March 31, 2014. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements.

Contacts:

David K. Waldman
US Investor Relations
Crescendo Communications, LLC
(212) 671-1021

Herbert Strauss
European Investor Relations
[email protected]
+43 316 296 316

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