GSO Capital Funds acquire common shares of Primary Energy Recycling Corporation



    NEW YORK, Jan. 25 /CNW/ - GSO Capital Partners LP ("GSO Capital")
announced today that on January 24, 2008, GSO Special Situations Fund LP, GSO
Special Situations Overseas Master Fund Ltd. and GSO Credit Opportunities Fund
(Helios), L.P. (collectively, the "GSO Funds") acquired, in the aggregate,
426,800 common shares of Primary Energy Recycling Corporation ("Primary
Energy"). As a result of such acquisition, GSO Special Situations Fund LP, GSO
Special Situations Overseas Master Fund Ltd. and GSO Credit Opportunities Fund
(Helios), L.P. hold 4.79%, 4.41% and 1.93%, respectively of the outstanding
common shares of Primary Energy. Collectively, the GSO Funds hold
approximately 11.13% of the issued and outstanding common shares of Primary
Energy. GSO Capital is the investment manager of the GSO Funds.
    The common shares were acquired for investment purposes only. The GSO
Funds and GSO Capital, on behalf of the GSO Funds and the other funds that it
manages, may acquire additional common shares of Primary Energy or dispose of
some or all of the common shares of Primary Energy currently held by the GSO
Funds.





For further information:

For further information: Investor Relations, GSO Capital Partners LP,
280 Park Avenue, 11th Floor, New York, New York, 10017, (212) 503-2100

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GSO Capital Partners LP

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