Phase Separation Solutions Signs Major Service Agreement and Expands Management Team

Release Date: February 5, 2008
WEST MOUNTAIN CAPITAL CORP.
NEWS RELEASE FOR IMMEDIATE RELEASE

Phase Separation Solutions Signs Major Service Agreement and Expands Management Team Calgary, Alberta – February 5, 2008 – Phase Separation Solutions Inc. (“PS2”), a wholly owned subsidiary of West Mountain Capital Corp. (TSX-V: WMT), is pleased to announce that it has entered into a service agreement with one of Canada’s largest pharmaceutical distribution companies that operates a significant nationwide network of distribution centers that provide
logistics and distribution services for over 800 manufacturers and services over 6000 pharmacies and over 1000 heath care institutions. Under the terms of this agreement, PS2 will provide collection, transport and secure disposal for a variety of prescription medications and over-thecounter consumer products from across Canada. The agreement is for an indefinite period of service between the parties and represents an opportunity for PS2 to increase its annual volume of pharmaceutical waste being treated at its state-of-the-art treatment facility in Wolseley, Saskatchewan.

PS2 is an established national waste management and remediation service provider that began managing pharmaceutical waste from across Canada in 2007. PS2 has experienced a very positive response to its exclusively licensed alternative treatment technology. It now adds this new service agreement to its list of agreements with major pharmaceutical and consumer product
manufacturing and distribution companies.
PS2 uses a proprietary thermal system that reduces the environmental footprint associated with destroying pharmaceutical waste while recovering oil from plastic packaging and generating synthetic natural gas that it uses to sustain the process. “This again is another confidence builder for our company and acknowledgement that PS2’s technology and approach to pharmaceutical waste treatment is revolutionary and a major shift in the way this waste stream is being managed
in North America” says Paul Antle, President and CEO.

PS2 is also pleased to announce the appointment of Mr. Greg Gauthier as its Vice President of Pharmaceutical and Consumer Products. Mr. Gauthier has a long history in the industry having held senior positions with several pharmaceutical and healthcare leaders, including AmerisourceBergen Corp, both in Canada and the US, Siemens Medical Canada, Alaris Medical and Baxter Corporation. He has also provided consulting services to leaders in the distribution of pharmaceutical and consumer health products companies, such as Kohl and Frisch Ltd. Most recently Mr. Gauthier was Managing Director of MedTurn International Inc, the Canadian subsidiary of US reverse logistics market leader CLS Inc, an Inmar Company. Mr. Gauthier’s role with PS2 is to aggressively expand its growing presence in the pharmaceutical
and consumer product sector in North America. He will oversee PS2’s sales and marketing efforts in this sector and assist with the Company’s expansion plans in Ontario. “PS2’s new technology represents a greener concept in the management of pharmaceutical and consumer waste in
North America. It offers a great opportunity for the industry and I am excited to be a part of it,” says Mr. Gauthier. “I believe PS2 will not only be a force in the management of pharmaceutical
and consumer products waste, but in doing so, we will also provide technologically innovative services and processes, especially designed for manufacturers, distributors and retailers, currently dealing with the ever increasing problems surrounding non-salable returns, recalls and
waste.” Mr. Gauthier added, “Although our immediate focus is the Canadian and US markets, PS2’s global capabilities in this market segment make this role even more exciting.”

About Phase Separation Solutions:

PS2 is an established Canadian company specializing in thermal treatment of a variety of hazardous and non-hazardous waste streams. It employs a unique indirectly heated, closed loop
technology that allows it to extract even the most hazardous contaminants from soil, industrial sludge, pharmaceutical waste and consumer waste streams converting much of it into reusable oil. PS2’s management team maintains expertise in hazardous waste management, brownfield remediation and pharmaceutical waste management with experience spanning North America
and internationally throughout 14 countries.
This release may contain forward-looking statements. These statements are based on
management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance. Any forward-looking statements are made as of the date hereof and West Mountain
Capital Corp. does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise.

For Inquires Contact:
Mr. Paul Antle, President and CEO
Tel: 709 726 0336
Email: pantle@phaseparation.com
Web: http://www.phaseparation.com

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.