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Celerity Announces Acquisition of Poly Concepts

MILPITAS, Calif., July 22, 2002 - Celerity Group, Inc. today announced their acquisition of Poly Concepts, Inc., a leading provider of chemical delivery process modules to the semiconductor industry. With established manufacturing operations of gas delivery process modules worldwide, this merger brings a complementary offering to Celerity's product mix. The merger will also provide opportunities for Poly Concepts to bring more diversity to its chemical product line and to span its offering to a broader customer base.

"We are very excited about merging Poly Concepts' business with Celerity", said Joseph Foster, senior vice president of customer interface at Celerity. "The combination of Poly Concepts expertise in chemical delivery coupled with Celerity's global infrastructure and existing expertise in gas delivery, makes for a powerful combination."

Poly Concepts is located in Sherwood, Oregon and employs over 100 people. The company provides engineering, design, and manufacturing solutions of chemical blending and delivery modules to semiconductor original equipment manufacturers (OEMs). Poly Concepts product line includes chemical delivery (dispense) modules, blending modules (point of use), filtration modules, process chamber modules, and chemical valve manifold boxes. A new 75,000 sq. ft. manufacturing facility for the business is currently under construction in Tualatin, Oregon and is scheduled for completion in September of 2002.

"The merger of Poly Concepts and Celerity is highly complimentary. The two companies, with their combined strengths, net a tremendous amount of opportunity", said John Holtz, president of Poly Concepts.

Celerity is a leading provider of gas delivery process modules and critical instruments to the semiconductor industry and related industries requiring high precision and flow control. Celerity, formerly known as Kinetics Fluid Systems, is a division of Kinetics Group, Inc. For more information, please visit www.celerity.net.