Accident Prevention Plus, Inc. Renegotiates Deal For Equity Financing

    HAUPPAUGE, N.Y.--March 22, 2001--Accident Prevention Plus, Inc. ("APP"), a Long Island, New York-based developer and marketer of onboard computer recording systems has negotiated terms of an agreement, in principle, with the distributor American Overseas Holding Company ("AOHC") of Luxembourg which terminates the previous distributor agreement.
    The new agreement, subject to documentation, specifies that AOHC will purchase $5,000,000 of APP's common stock at $1.46 per share over the next year in 12 monthly installments. AOHC has paid approximately $300,000 under the previous agreement. The prior obligation of AOHC was to provide $1,000,000 by February 28, 2001 and the balance was to be received by August 28, 2001.
    The company will continue to seek out alternative financing arrangements. However, if AOHC does not comply and the company is unable to obtain alternative financing, the company may not be able to meet its obligations as they become due.

    About Accident Prevention Plus, Inc. (NASDAQ-OTC BB:ACDP)

    APP develops, markets and sells a comprehensive line of onboard recording systems -- the APP1000, the APP2000 and the APP3000 (collectively called the "AP+ Series). The AP+ Series includes a dual axis accelerometer, designed and developed by APP to measure the sway of a vehicle, and onboard systems that monitor and record data for accident prevention, driver training and evaluation, and maintenance operation for fleet vehicles.

    Statements made in this press release that are not historical or current facts are "forward-looking statements." These statements can be identified by the use of terms such as "may", "will", "expect", "believe", "anticipate", "estimate", "approximate" or "continue", or the negative thereof. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond the control of the Company that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. These factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs, failure to successfully penetrate the Company's markets both in the United States and in foreign countries, and failure to capitalize upon access to new markets. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.