Turbodyne Suit V Honeywell...Still In There

CARPINTERIA, Calif., Feb. 5 -- Turbodyne Technologies, Inc. announced today that the U.S. District Court has vacated as moot the motion of Honeywell International, Inc. to dismiss Turbodyne's Complaint in an action filed last August. The Court's action followed the filing by Turbodyne of an amended complaint adding a claim for damages under the Racketeer Influenced and Corrupt Organizations Act (RICO) to the antitrust claims previously asserted.

Turbodyne said it added the RICO claim after discovering that according to Driver Technology Ltd., a U.K. company, Honeywell engaged with respect to Driver in the same type of actions charged in the Turbodyne complaint. Driver filed a complaint last Thursday against Honeywell in the U.S. District Court for the Central District of California alleging that Honeywell suppressed Driver's supercharger technology in violation of the antitrust laws and RICO.

Turbodyne's Complaint alleges damages of $3 billion. Driver's alleged damages are $80 million. The antitrust laws and RICO provide for recovery of threefold the amount of actual damages.

Turbodyne warned investors that the outcome of litigation is highly speculative, and there can be no assurance that its suit against Honeywell will result in the recovery of any damages.

This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts.