PITTSBURGH, March 26 /PRNewswire-AsiaNet/-- Biocontrol Technology, Inc. (Nasdaq: BICO) announced today that it has entered into an Agreement with American Superpower Group, Inc. (ASG) of Great Neck, New York, USA to form a joint venture between the two companies for the purpose of sales and distibution of Biocontrol's products in the people's Republic of China, Taiwan and Hong Kong. The Agreement, which was signed on March 25, 1997, calls for the new joint venture company to be owned seventy-five percent (75%) by ASG and twenty-five percent (25%) by Biocontrol. The Agreement further calls for BOCO and/or its subsidiaries to sell its products to the joint venture company at a profit. The products will in turn be sold in China, Taiwan, and Hong Kong. Originally founded in 1939 in the Far East for construction, shipbuilding, oil drilling,and general business investments, ASG was chartered in New York State in 1978 to pursue a broad range of joint projects. American Superpower Group is headed by chairman and Chief Executive Officer K.C. Abraham Cjow and President Yween Ling Chow. Mr. Chow, who was born in Shanghai, is now a United States citizen who has lived and worked in the United States for many years. He is a graduate of St. John's Universtity in Shanghai, trained in architechture and mechanical engineering. With over 40 years of U.S. and overseas business experience, Mr. Chow has developed strong relationships with Chinese government officials and industry leaders and is committed to developing the potential for foreign access to the China market. President Yween Ling Chow is a business graduate of the University of California and has been extensively involved In Asian/American business for the last 15 years. ASG has majority ownership in nine (9) other Chinese joint ventures, all of which are headed by Mr. Chow. Major ventures includes Shanghai Offshore Petroleum Engineering Corporation (SOPEC). The partners in SOPEC are Bank of China, Shanghai Shipbuilding Corporation, Shanghai Investment and Trust Corporation and First Bureau of Mechanical & Electrical Corporation. Additional joint ventures are Benxi Baoxi Cold Rolling Factory with partner Benxi Iron and Steel Works; Benxi Xida Tinplate Co.; Anhui Baoging Electrolytic Tinplate Co. Ltd.; Zhuozhuo Amaee Tinplate Co., Ltd.; American Hightech University; Dalian Superpower Distilled Water Factory; and Benxi Economic, Hightech Zone (for urban development). Of the Agreement between ASG and Biocontrol, Mr. Alan Wexler, vice president of American Superpower, said "A healthy relationship is between two great companies and two great countries will yeild significant profits for both companies." Biocontrol Chief Officer Fred E. Copper, said, "This joint venture gives our shareholders an exciting opportunity to share in the vast and growing Chinese business market. American Superpower's long-standing presence and excellent reputation in that market will certainly pave the way for BICO to take into China its innovative medical and environmental products, which include the Diasensor (R) 1000 noninvasive glucose sensor, BioLogic-HT BIO-SOK(R) oil spill response products." Biocontrol Technology, Inc. has its corporate offices in Pittsburgh, Pennslyvania, USA and in involved in the department and manufacture of Biomedical devices and environmental products. SOURCE Biocontral Technology, Inc. CONTACT: Investors, Diane McQuaide, 412-429-0673, or fax, 412-279-9690; or Media, Susan Taylor, 412-279-9455, or fax, 412-279-9447, both of Biocontrol Technology; or Alan Wexler of American Superpower, 516-829-1638, or fax, 516-829-1689 (BICO)