Tice Announces Fiscal Third Quarter Results of Operations

    KNOXVILLE, Tenn.--March 7, 2002--Tice Technology, Inc. (OTCBB:TICE) today announced the results of operations for its third quarter of the fiscal year ending March 31, 2002.
    In its fiscal third quarter, which ended December 31, 2001, Tice Technology, Inc. reported revenues of $1,848,573 compared to revenues of $295,000 in the same period of the previous fiscal year. This increase is due to the inclusion of revenues from its MidSouth Sign Company and LandOak Company subsidiaries for the entire three-month period this fiscal year. These businesses were acquired January 1, 2001. The Company had a net loss for the third quarter of fiscal year ending March 31, 2002 of $774,208, or $0.03 per diluted share, due primarily to operating losses sustained at MidSouth and LandOak, compared to a net loss of $109,781, or $0.01 per diluted share, for the same period of the previous fiscal year.
    In the nine months ending December 31, 2001, Tice Technology, Inc. reported revenues of $6,439,616 compared to revenues of $400,000 in the same period of the previous fiscal year. This increase is due to the inclusion of revenues from its MidSouth Sign Company and LandOak Company subsidiaries for the entire nine-month period this fiscal year. These businesses were acquired January 1, 2001. The Company had a net loss for the nine months ending December 31, 2001 of $2,533,998, or $0.11 per diluted share, due primarily to the operating loss and loss from disposal at the company's Tice Engineering and Sales, Inc. subsidiary which ceased operations in August of 2001, and operating losses sustained at MidSouth and LandOak. This compares to a net loss of $866,097, or $0.09 per diluted share, for the same period of the previous fiscal year.
    Tice also announced it had executed a letter of intent to acquire A3 Technologies, Inc. (formerly Glow Products Corporation), a Jacksonville, FL based company that has the sole commercialization rights to a patented atmospheric plasma technology developed in conjunction with Atmospheric Glow Technologies, LLC and the University of Tennessee. Several conditions exist before a definitive purchase agreement is completed, including the divestiture by Tice of both LandOak Company and MidSouth Sign Company, as well as Tice shareholder approval and the completion of a $6.5 million private placement. This innovative atmospheric plasma technology has a number of different market applications. A3 Technologies and Atmospheric Glow Technologies are currently developing and commercializing products for commercial and residential air filtration and purification, biological and chemical decontamination, DNA extraction, and diesel emission reduction. There are additional products that will be developed and commercialized by A3 Technologies including medical and food sterilization products. The patented atmospheric plasma technology is revolutionary in its ability to generate uniform glow discharge plasma with low energy requirements and at atmospheric pressure using ambient air. This, compared to previous plasma technologies, allows A3 Technologies to broaden the scope of applications to be economically developed for commercialization. Most of the research to date has been developed in conjunction with the Department of Defense, the Environmental Protection Agency, and the National Institutes of Health.
    Tice is a publicly traded holding Company providing diverse products and services through three wholly owned subsidiaries:
    MidSouth Sign Company, Inc. sells and produces metal and vinyl signs and National Survey Associates (a division of MidSouth Sign Company, Inc.) provides national signage surveys and other services for commercial clients. Customers include American Express, Ruby Tuesday's, Clayton Homes, and Compass Bank.
    LandOak Company, Inc. is an automobile and equipment rental and leasing company for individual and commercial clients throughout the upper East Tennessee area. Customers include Tennessee Eastman and the Tennessee Valley Authority.
    Tice Engineering and Sales, Inc. (founded in 1965), until recently, provided engineering and technical solutions for specialized, industrial sewing equipment. Tice is widely known in the apparel industry for its patented Electronic Gearing Technology. TES had been developing a revolutionary new fell-seam sewing machine, the FS-2000, for the past three and a half years.

    Statements in this release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition, words such as "believes," "anticipates," "expects," and similar expressions are intended to identify forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievement of events of the Company, or events, or timing of events, relating to the Company to differ materially from any future results, performance, or achievements of the forward-looking statements. The Company cannot assure that it will be able to anticipate or respond timely to the changes, which could adversely affect its operating results in one or more fiscal quarters. Results of operations in any past period should not be considered indicative of results to be expected in future periods. Fluctuations in operating results may result in fluctuations in the price of the Company's securities.