STWA President Provides Company Update

    SAN DIEGO--April 19, 2002--In an announcement issued today by executives of Save the World Air Inc. (Pink Sheets:ZERO), it was disclosed that the company and its newly appointed officers have entered into an agreement with the U.S. Securities and Exchange Commission that settles the complaint filed against the company by the SEC in December 2001.
    The details of the settlement were outlined in a recent 8K filing and, if accepted by the court during its upcoming hearing on June 12, 2002, this settlement extricates the company entirely from further action by the SEC. As explained in the consent document, the company will not be required to pay any fines or restitution relative to the complaint but proceedings and actions will however continue to be sought by the SEC against Jeffrey Muller and Billy Blackwelder for a variety of allegations.
    In a statement made by STWA President Edward Masry, it was disclosed that the new officers of the company and the Board of Directors agreed to the settlement after reaching a determination that such action was in the best interests of the company and its shareholders.
    Speaking to the development, Masry stated, "The new officers of STWA and its board are fully committed to developing and bringing to market the company's Zero Emission Fuel Saver device. We are continuing with our efforts to complete product engineering and development of the multi-port version of the device and with the settlement reached between the SEC and STWA, the company can now focus its efforts toward achieving these goals."
    In addition to these developments, Masry also disclosed that the company had recently dismissed its principal accountant (Hoiberg Business Group of Australia) and has instead retained Good, Swartz, Brown & Berns LLP of Los Angeles to serve as the company's new accounting firm. STWA recently relocated its company headquarters to 29229 Canwood Street in Agoura Hills, Calif. and will be conducting all corporate activities and operations from these new facilities.

    Safe Harbor Statement: The statements contained herein, which are not historical, are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward looking statements, including, but not limited to, the company's ability to market its products and services and future customer acceptance for these products and services and other risks detailed from time to time in company documents furnished to investors.