EXHIBIT 99.1


May  17,  2004 - PureCycle Corporation (OTCBB:PCYO - News) announced that it has
entered  into  a long-term contract to provide water service to the Hills at Sky
Ranch,  a planned unit development in unincorporated Arapahoe County.  Plans for
the  Hills  at  Sky  Ranch  provide  for approximately 850 residences along with
parks,  open  space  and neighborhood retail and commercial areas.  The Hills at
Sky  Ranch  is  situated  on  160  acres  located  about 8 miles south of Denver
International  Airport  and  adjoins the 760-acre, 4,000 dwelling unit Sky Ranch
development  to  which  the  Company  will  also  provide  water  service.  Site
development work at the Hills at Sky Ranch is anticipated to start in fall 2004,
with  housing  construction starting in spring 2005.  Upon completion, the water
service  contract  is  expected  to  generate  gross  revenue  of  approximately
$10,600,000  from  one-time  water  tap  fees  along with approximately $490,000
annually  from  water  service  charges.

Mark  Harding,  PureCycle's  President, commented "We are extremely pleased with
the  addition of The Hills at Sky Ranch to our water service customer base.  The
Hills  at Sky Ranch and the adjoining Sky Ranch developments represent a new and
growing  region  of  the  Denver  metropolitan  area,  where the Company's water
resources  are  playing  a key role in new land development.  As a result of our
strategic  acquisition of water supplies in the 1990s, PureCycle Corporation has
one  of  the  largest  undedicated  water  supplies  available  in  the  Denver
Metropolitan  area.  When fully utilized, these water resources could support in
excess  of  80,000  residences.  As  a  relatively new and growing water service
provider, we are in a great position to fully benefit from emerging water system
practices and technologies in our quest to be good stewards of the limited water
resources  available in Colorado and other semi-arid regions of the southwestern
United  States."

About PureCycle

We  own  or  have  rights to use significant water assets which we have begun to
utilize  to  provide  water  and wastewater services to customers located in the
Denver,  Colorado  metropolitan  area  near our principal water assets.  We will
operate  water and wastewater systems to treat and deliver the water we provide.
Our  services  will  include  designing, constructing, operating and maintaining
facilities  to  serve  our  customers.

We  have  exclusive  access  to approximately 29,000 acre feet per year of water
from,  and  the exclusive right to provide water and wastewater services to, the
approximately  24,000  acres  of  primarily  undeveloped land known as the Lowry
Range.  The  Lowry  Range  is  located in Arapahoe County approximately 15 miles
southeast  of  downtown  Denver  and  12 miles south of the Denver International
Airport.  Of  the  approximately  29,000  acre  feet  of  water to which we have
access, 17,500 acre feet are available to us for use on the Lowry Range.  We own
the  remaining  11,650  acre  feet  and  can "export" it from the Lowry Range to
supply  water  to  nearby communities and developers in need of additional water
supplies.  We  acquired  these  rights  and  the  "export water" in 1996 when we
entered  into  an  85-year  agreement  with  the State of Colorado Board of Land
Commissioners  which  owns  the Lowry Range, and with the Rangeview Metropolitan
District, a quasi-municipal political subdivision formed for the sole purpose of
providing  water  and  wastewater  services  to  the  Lowry  Range.


This news release contains certain forward-looking statements within the meaning
of  the  Private  Securities  Litigation  Reform Act of 1995 with respect to our
financial condition, results of operations and business. The words "anticipate",
"believe",  "estimate",  "expect",  "plan", "intend" and similar expressions, as
they  relate  to  us,  are intended to identify forward-looking statements. Such
statements  reflect  our  current  views  with  respect to future events and are
subject  to  certain  risks, uncertainties and assumptions. We cannot assure you
that  any  of  our  expectations will be realized. Factors that may cause actual
results  to  differ  materially  from those contemplated by such forward-looking
statements  include,  without limitation, the timing of development of the areas
where we are selling our water, the market price of water, changes in applicable
statutory  and regulatory requirements, uncertainties in the estimation of water
availability  under  decrees,  costs for delivery of water, uncertainties in the
estimation  of  revenues  and  costs  of construction projects, the strength and
financial  resources  of our competitors, our ability to find and retain skilled
personnel,  climatic  conditions,  labor  relations,  availability  and  cost of
materials  and  equipment,  delays in anticipated permit and construction dates,
environmental  risks,  the  results of financing efforts and the ability to meet
capital  requirements,  and  general  economic  conditions.

For  additional  information,  please contact Mark Harding, President, PureCycle
Corporation  at  (303)292-3456  or write to PureCycle Corporation, 8451 Delaware
Street,  Thornton,  CO  80260.