POMONA, CA--(MARKET WIRE)--Sep 5, 2008 -- General Environmental Management, Inc. (OTC BB:GEVI.OB - News), a leading environmental and waste remediation company announced today it has completed the acquisition of Island Environmental Service, Inc. (IES), a California-based environmental transporter. GEM also entered into a material definitive agreement with CVC California, LLC, a subsidiary of The ComVest Group for a $13.5m financing of revolving and term debt.

IES, who generated $7.7 million in revenue in 2007, maintains geographic service coverage in the western region. IES will significantly increase GEM's environmental equipment resources and support the company's continued growth throughout the western United States.

"GEM derives multiple benefits from the IES acquisition and we believe with our combined resources this acquisition has the potential to drive growth for our company moving forward," commented Tim Koziol, GEM CEO. "With the addition of IES, GEM will increase our reach into new customer bases, while broadening service capabilities throughout GEM's customers with IES' core competencies in logistics, bulk movement of waste, and storm water management services. IES will operate as a division of GEM."

"The IES family is excited to join GEM and I look forward to working with the GEM team to further expand this company," said Randy Costales, IES President. "We both share a common-sense approach to customer service and many years of combined experience in this industry. With GEM's systems applied to the IES service group, we expect to continue GEM's momentum in future quarters."

The new financing was funded by CVC California, LLC, a subsidiary of The ComVest Group, who funded the purchase as well as the refinancing of all existing corporate debt.

About General Environmental Management, Inc.

General Environmental Management, Inc. (www.go-gem.com) is a full-service hazardous waste management and environmental services firm providing integrated environmental solutions managed through its proprietary web-based enterprise software, GEMWare, including the following service offering: management and transportation of waste; design and management of on-site waste treatment systems; management of large remediation projects; response to environmental incidents and spills; and environmental, health and safety compliance. Headquartered in Pomona, California, GEM operates seven field service locations and one Treatment, Storage, Disposal facility (TSDF), servicing all markets in the Western U.S.

Statements made in this press release that are not historical in nature constitute forward-looking statements within the meaning of the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Such statements are based on the current expectations and beliefs of the management of GEM. No forward-looking statement can be guaranteed. GEM undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect GEM's business.

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     Tim Koziol
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