January 14, 2009

Northern Technologies International Corporation (NASDAQ: NTIC) announced the signing of a multi-year contract between NTIC's Brazilian entity (Zerust Prevenção de Corrosão S.A.) and Petrleo Brasileiro S.A. "Petrobras" (NYSE: PBR), to install and service proprietary corrosion protection technologies on the roofs of an initial set of aboveground oil storage tanks at the Petrobras REDUC refinery in Rio de Janeiro, Brazil.

Petrobras is one of the world's largest oil companies with 14 refineries and more than 330 oil storage tanks at the Petrobras REDUC refinery alone.  Prior to awarding the contract, Petrobras conducted several extensive field trials of NTIC's proprietary ZERUST(r) ReCAST corrosion protection system at Petrobras' REDUC refinery against conventional alternatives, such as protective coatings, and has now approved the ZERUST(r) technology for application on storage tanks.  Read more