Meteor Merger With Active IQ Technologies Receives Shareholder Approvals

    DENVER, March 28 Meteor Industries, Inc. and Active IQ Technologies, Inc.
today announced that in separate shareholder meetings of both companies,
shareholders have approved the merger of Meteor Industries with Active IQ.  In
a separate but related action, Meteor shareholders also approved the sale of
its operating business to its major shareholder, Capco Energy, Inc.

    Under the terms of the definitive merger agreement, the merger transaction
is expected to close on or before April 16.  As provided by the agreement,
upon closing, Meteor will issue new shares of common stock and warrants in
exchange for all of the equity of Active IQ, such that Active IQ shareholders
will own approximately 50% of the merged company.  Upon the closing of the
transaction, the management of Active IQ will become the management of the
combined companies and Meteor's historical businesses will be sold.