Diversified Product Inspections Finalizes Purchase

Tennessee-based Diversified Product Inspections Inc., a provider of independent product failure analysis, air contamination and fire investigations for the insurance industry announced that DPI has closed on a building that will be the company’s new headquarters.

John VanZyll, president and CEO, stated that, “DPI is pleased to announce that we have closed on the purchase of a 45,000 square foot building for $800,000 that will serve as our new headquarters. The building is in Oliver Springs, Tennessee which is located five miles from our current Oak Ridge leased location. This asset will allow for increased laboratory/inspection area, storage area, video/audio studio (for audio and video streaming on the DPI web site), and increased space for our information technology department. The building also contains various size conference rooms and a 300 seat auditorium that we plan to use for training of adjusters, and eventually for agents for the Vulnerability Assessment Group (VAG), our new joint venture.

“During January 2005 we will be moving from our present location and plan to be fully operational at the new location by February 1, 2005. We will also have the opportunity to lease out up to 8,000 square feet of office space located in a section of the building that has its own separate entrance. We already have some potential tenants for part of this space. The building appraised for $1.6 million which allowed us to finance the entire purchase price.”