Change of Directors At California Electric Automobile Company, Inc., Subsidiary of American Electric Automobile Company, Inc.

    MARKHAM, Ontario--March 1, 2001--American Electric Automobile Company, Inc. (OTCBB:AEAC) reports that Edward F. Myers, Betty N. Myers and Gary DeGano resigned on February 16, 2001 as directors and officers of the Company's wholly owned subsidiary, California Electric Automobile Company, Inc. (CEAC).
    Pierre Quilliam was elected Chief Executive Officer of California Electric Automobile Company, Inc. and Captain Glenn Roach was elected President on the same date. Captain Roach was also elected to the Board of Directors of CEAC.

    About American Electric Automobile Co....

    The American Electric Automobile Company (A.E.A.C) incorporated in Delaware and operating in California has been successfully converting automobiles to electric power since 1996. The company also remanufactures conventional gas-powered cars into hybrid electric vehicles. Among the remanufactured products are popular vehicles converted to electric power including the Volkswagon Cabriolet, the Ford Escort, and the Ford Ranger pick-up truck. These are designed with a hybrid-electric option in the form of a small on-board, gasoline-powered generator that can recharge the batteries. A.E.A.C. uses DC technology standard components which helps bring vehicles to market at a lower price than much of its competition which uses AC technology. The company's mission is to provide environmentally sensitive, high quality, cost-effective auto transportation through domestic production and cooperative opportunities with global partners.