Guardian Technologies Merger Update

    CAREFREE, Ariz.--May 29, 2001--Guardian Technologies International, Inc. , announced today that the President of merger candidate Vairex Corporation has been selected as Chairman of the F-Cells 2001 Fuel Cell Conference to be held in London, England on August 30-31, 2001.
    The conference is sponsored by the International Quality & Productivity Center (IQPC) and will focus on the commercialization of stationary fuel cell applications.
    Some of the participants at this year's conference are Fuel Cell Energy, Rolls Royce, UBS Warburg, Alstom/Ballard, Hamburgische Electricitats-Werke, and Nuvera Fuel Cells Europe, to name a few.
    The conference will bring fuel cell developers together with end users, the investment community and utilities to address cost and performance issues surrounding market entry of products. The theme for the event is cost reduction strategies for utilities, residential and industrial applications in preparation to meet the needs of the rapidly emerging fuel cell market.
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