DynaMotive Announces Closing of Private Placement

    VANCOUVER, Feb. 22 - DynaMotive Technologies Corporation
(OTCBB: DYMTF) announced today that it has closed a private placement
financing for $500,000 at a share price of $1.20 per share. Investors in the
Private Placement also received a warrant to purchase one-fifth of a share of
DynaMotive common stock for each share of DynaMotive common stock purchased.
The warrants have a two year term, subject to accelerated termination under
certain circumstances. The warrants are exercisable at a share price equal to
$2.00. The securities issued by DynaMotive have not been registered under the
Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an applicable exemption from registration.