CGP SEALS US$10 MILLION INDUSTRIAL HEMP CONTRACT WITH MAJOR EUROPEAN
INSULATION MANUFACTURER

WILLARD, Ohio, Oct. 29

Consolidated Growers & Processors, Inc. (OTC BULLETIN BOARD: CGPR),
through its wholly owned subsidiary CGP Europe, AG, today announced a
US$1O million, three-year agreement with ALCOPOR (ALCN), a major
European manufacturer of insulation, to deliver 18,000 metric tons of
industrial hemp fiber for use in building insulation.

The contract represents one of the largest and most environmentally
innovative steps taken to date to introduce the use of industrial hemp
fiber into the mainstream building industry. Insulation made with hemp
fiber is fire resistant, non-toxic and has approximately the same R
(resistance) value as traditional fiberglass insulation.

CGP (www.congrowpro.com) is the first multi-national company to organize
worldwide agricultural and marketing efforts of the versatile and
potentially lucrative industrial hemp plant. Recently the company
harvested over 1,000 acres of industrial hemp following its legalization
in Canada and plans to cultivate over 2 million acres of Canadian
prairies over the next five years. CGP is also planning to announce the
site of the first hemp processing facility to implement a technology
that will produce hemp pulp for use in paper at a price competitive to
wood pulp.

Checked-by: Rolf Ernst