Advanced Engine Technologies Steps Up Testing of The OX2 Engine After Recent Positive Test Results

LOS ANGELES, May 6-- Advanced Engine Technologies, Inc. today announced that it has successfully completed early phase testing of its innovative OX2 internal combustion engine. During testing, its OX2 test engine #2 created 135 lb ft of torque, resulting in 16.8 horsepower at 650 rpm -- one-third the typical idle speed of traditional internal combustion engines.

"We are very encouraged and excited about the numbers we are seeing from our recent tests," says Carroll Shelby, President, Advanced Engine Technologies. "The OX2 test results were based on less than one-half the engine's throttle position and has powerful implications in the areas of reduced wear on engine parts and reduced fuel consumption, resulting in better fuel economy."

The early phase testing also allowed AET to identify airflow issues with the OX2 block. Design modifications to the engine's inner block have been made to improve airflow and increase compression. The re-cast blocks will be retro-fitted to the current OX2 engines and are expected to result in increased overall power.

The OX2 is a 4-stroke, 41.36 cubic-inch internal combustion engine 17 inches in diameter with a length 13 inches and a total weight of a 125 pounds. The compact engine weighs 75 percent less than and is half the size of traditional internal combustion engines. In addition, it offers the flexibility of being able to run on a variety of fossil fuels including gasoline, diesel, natural gas, liquid propane or methane. The OX2 engine also has half the moving parts of other types of engines, which means less wear and tear and reduced maintenance costs.

With its higher power to weight ratio, multi-fuel capability, low emissions and fuel efficiency, the OX2 has a practical and much needed application in the commercial and industrial generator markets. Additional applications may include marine, light duty farm and construction equipment, light aircraft, and as a possible long-tern solution in the hybrid electric vehicle market, however the focus remains electrical generator applications in the near term.

Investor inquiries can be directed to the company at (310) 914-9599. To update the investment community and all interested parties about the progress of the OX2 engine, Advanced Engine Technologies has established a hotline at 310/323-2895. Additional information pertaining to the OX2 engine can be accessed through the company's Web site at www.ox2engine.com .