Advanced Engine Technologies' OX2 Engine Poised as Alternative For Future World Energy Needs

 Testing Focuses on Generator Applications in Wake of California Power Crisis

    LOS ANGELES, Feb. 8 Advanced Engine Technologies, Inc.
(OTC Bulletin Board: AENG) announced today that development of its OX2
internal combustion engine is moving toward its first commercial application,
with testing of commercial generator prototypes scheduled for the second
quarter of this year.
    The OX2's reduced size and weight, along with its fuel-efficient package,
offers a cost-effective alternative in the face of recent stage 3 power alerts
and threats of partial blackouts in California.  As the state's largest
utilities have been prevented from passing along power cost increases, it has
become necessary for the state to buy supplemental power from outside sources.
    "The OX2 engine is significantly smaller and lighter than a normal
internal combustion engine," says AET Director Richard Ronzi, recently elected
to AET's board of directors following 38 years at Ford where he served as
Director of Powertrain Research.  "Our engine offers flexible fuel burning
capabilities.  It can burn a variety of fossil fuels, including natural gas,
liquid propane gas or methane.  In addition, the OX2 has half the moving parts
of the typical internal combustion engine, making it a less expensive engine
to manufacture and maintain."  Ronzi continues, "The OX2 has several
advantages over the gas turbine engines that are being over excitingly
promoted."
    The 4-stroke OX2 is just 12.8 inches in diameter with a width of
6.9 inches and weighs a mere 120 pounds.  With its higher power to weight
ratio, multi-fuel capability, low emissions and fuel-efficiency, the OX2 has a
practical and much needed application in the commercial and industrial
generator markets.  Additional applications may include marine, light duty
farm and construction equipment, light aircraft, and as a possible long-term
solution in the hybrid electric vehicle market, however the focus remains
electrical generator applications in the near term.
    Racing legend Carroll Shelby currently serves as AET President and
supervises the OX2s rigorous 16-point test and development plan.  "Presently,
we are in the performance testing phase," says Shelby, "we are advancing the
OX2 engine's development so that we can produce the right amount of horsepower
and torque, while achieving fuel and emission efficiencies that will allow us
to be competitive.  With Dick Ronzi now on board, he will take an active role
in the oversight of the OX2's development plan."
    Shelby continues, "An internal combustion engine is more cost effective
and more efficient than the gas turbine generator currently being hyped in the
market.  This positions the OX2 as the logical alternative."
    To update the investment community and all interested parties about the
progress of the OX2 engine, Advanced Engine Technologies has established a
hotline at 310/323-2895.

    Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995
    This release may contain forward-looking statement involving risks and
uncertainties that may cause actual future events or results to differ
materially and adversely from those described in the forward-looking
statements.  Important factors that may cause such a difference for AET
include, but are not limited to, whether our engine products are viable,
whether a market for our products develops, our ability to retain key
management, our ability to hire and retain the technical personnel necessary
to build our products, the availability of funding for future operating
requirements, our ability to effectively predict or react to rapid
technological changes that could render our products obsolete, product
development delays, dependence on suppliers, our potential exposure to product
liability and other tort claims if our products fail, our ability to protect
our intellectual property, intellectual property disputes, and other factors
discussed in AET filings from time to time with the Security and Exchange
Commission.  AET cautions that the foregoing list of important factors is not
exclusive.  AET disclaims any obligation to revise or update any
forward-looking statement that may be made from time to time by or on its
behalf.