updated 9/13/2010 8:45:34 AM ET 2010-09-13T12:45:34

SARASOTA, Fla., Sept. 13, 2010 (GLOBE NEWSWIRE) -- Resource Exchange of America Corporation (OTCBB:RXAC), a Florida-based recycling company, comments on a recent industry report, which indicates a positive trend for the scrap metal business.

The report from California-based Global Industry Analysts (GIA) shows that while the scrap steel industry was hammered by the global economic meltdown in 2008 and 2009, scrap steel consumption is forecasted to bounce back to 631.5 million metric tons by 2015. This is partly due to improving automobile sales and a recovery of the building industry, but also to continued demand from Brazil, India and China ( http://www.breakbulk.com/steel-metals/scrap-outlook-points-steel-recovery ).

Dana Pekas, CEO of Resource Exchange of America Corporation (OTCBB:RXAC), states that, "Although we could feel in our day-to-day business that demand for scrap metal has been rising lately, it is positive news that this report corroborates this.

"That the report indicates that China and India continue to be a factor of growth is just an added bonus. We are presently building out our capabilities to better meet the demands of the Asian markets, so this report accentuates the validity of our long-term strategy," Mr. Pekas concludes.

About Resource Exchange of America Corporation

Resource Exchange of America Corporation is working to become a recycling powerhouse by rolling up companies within asset recovery, processing and brokering of ferrous and nonferrous scrap metal. With its access to deep-water ports, the company will be able to sell the scrap metal to clients domestically as well as abroad. Resource Exchange of America Corporation will bring together the best companies within the recycling industry and elevate them to excellence, drawing on the strengths of the individual companies while combining forces to achieve synergies and be able to tackle the biggest jobs.

Disclaimer – Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.

For more information about Resource Exchange of America Corporation, visit www.resource-exchange.com or contact Investor Relations, USA toll free 1 (888) 551-4115 or NY Local 1 (646) 405-4805, rxac@mscorpcommunications.com.

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