PHELPS was established in Vancouver, British Columbia, Canada, in the spring of 1983, by Stan Saibil, a seasoned, industry veteran, and the Ung family, well known in the business community as outstanding entrepreneurs. The Company's goal, from inception has been to provide owners of multi-family housing with a superior alternative to owning and operating their own washers and dryers. It is our contention that Phelp's coin operated laundry equipment and Smart Card Systems would generate higher revenue at a lower cost, while providing fast and efficient service to the building residents. In addition, Phelps' outstanding success in deterring equipment vandalism has improved the peace of mind, as well as the income stream of many clients.

Phelps, serving markets in British Columbia, Alberta, Saskatchewan, Ontario, Quebec and the Maritimes is the second largest laundry route operator in Canada. This is due to a combination of rapid growth and one of the highest customer retention rates in the industry. Phelps personnel are friendly and approachable with a strong desire to exceed client expectations.

We look forward to being of service to you. Our references are available on request.

Stan Saibil
President