Innovative Holdings USTech Materials Subsidiary Names Dr. Joseph H. Koo as Technical Director

    ORLANDO, Fla.--Dec. 6, 2001--USTech Materials Corporation (USTM), a subsidiary of Innovative Holdings & Technologies, Inc. (OTCBB:IHTL), has named Dr. Joseph H. Koo as Technical Director, responsible for customer technical support, R&D and manufacturing development. Dr. Koo will assist the Company in developing its high performance resin systems, including its flagship product, PolyEther Amide Resin (PEAR) licensed on a worldwide basis from Ashland, Inc. .
    Dr. Koo was most recently the Director of the Institute for the Environmental and Industrial Science at Southwest Texas State University and also was Principal Engineer, Applied Mechanics and Materials Department, Armament Systems Division United Defense LP. He has over twenty-five years experience in program and engineering management, development of polymeric materials and integration of advanced materials in the design and manufacturing processes. Dr. Koo holds a Sc.D doctorate degree in mechanical engineering from George Washington University.
    The Institute for Environmental and Industrial Science (IEIS) at Southwest Texas State University provides USTM with manufacturing and R&D services.
    For more information on USTech Materials Corporation, including detailed technical and application data related to the PEAR resin high performance systems, visit http://www.innovativeholdings.com and click on the USTech Materials Corporation pages.
    PEAR high performance resins represent a new generation of advanced polymers that show promise as superior replacements for traditional, and more costly, fabricating materials. It has many potential applications within industries such as aerospace, automotive, oil & gas, electronic, electrical and sports equipment.

    This press release discusses certain matters that may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the intent, belief or current expectations of Innovative Holdings & Technologies, Inc/USTech Materials Corporation ("the Company") and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results such as, but not limited to: the ability of the Company to raise necessary capital; to attract and retain effective management; the lack of viable commercial applications or the failure of third-party contractors to perform their contractual obligations. Prospective investors are also referred to the other risks identified from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.