Torvec Announces Next Generation Differential and Infinitely Variable Transmission at Annual Shareholders Meeting

ROCHESTER, N.Y., Jan. 24, 2003; At its Annual Meeting of Shareholders, held on January 23, Torvec, Inc. announced that the Gleasmans, the original inventors of the dual-drive (Torsen®) differential, have invented a next- generation differential called Iso-Torque(TM) that is lighter, stronger, and can be manufactured at less cost than any comparably sized limited-slip or other existing differential.

"I am thrilled that we were able to make major improvements to our long- accepted invention," said award-winning inventor Vernon E. Gleasman.

By reducing cost and weight, Torvec's Iso-Torque differential removes a principal barrier to the introduction of full-traction differentials to the more than 55 million car and lightweight trucks worldwide. This could result in significant revenue for the company based upon anticipated market penetration.

Torvec also unveiled its generation III infinitely variable transmission (IVT), announced in October 2002, for installation in the 2003 Dodge Ram 3/4- ton 4x4 quad cab pick-up truck. This truck will have the long-awaited, electronically controlled 2004 emissions-compliant Cummins turbo-diesel engine. This engine is 5.9 liters in displacement, 240 bhp at 2,900 rpm and has 460 lb-ft of torque at 1,400 rpm.

"This IVT will not only reduce emissions and provide greater fuel economy, but it will also be manufacturer-friendly," said Keith Gleasman, president, Torvec. "We've determined that the IVT can be bolted into 4x4 models without altering existing exhaust or drive-line components, avoiding the need to reconfigure designs to accommodate the transmission."

While industrial sources have assessed that Torvec's IVT could double city mileage and remove up to 90 percent of diesel particulates (black soot), all emissions and fuel economy data will be confirmed in an on-road environment.

"These recent announcements are part of our long-term strategy toward the commercialization of our products," said Eric Steenburgh, chairman and CEO, Torvec. "We will continue to license our new products, like Iso-Torque, IVT, and constant velocity joint, to generate revenue that will fund the development and commercialization of the full terrain vehicle.

"We intend to build a stronger company for the long haul," he added.

Torvec, Inc. specializes in automotive and related technology. The company holds numerous U.S. and international patents protecting inventions such as a steering drive and suspension system for tracked vehicles, infinitely variable transmission, hydraulic pump and motor, constant velocity joint, and spherical gearing. Ice Surface Development, Inc. is advancing technologies to improve driving experiences for industrial, commercial, and consumer vehicles by eliminating the hassle of ice removal and loss of traction. For additional information and presentations, please visit http://www.torvec.com and http://www.icesurfacedev.com.