AR ASSOCIATES, INC. Signs Agreement in Principal to Acquire GreenWave Inc.

    RENO, Nevada--Oct. 7, 2002--AR ASSOCIATES, INC. (OTC-PinkSheets: ARAI) is pleased to announce that it has executed an Agreement in Principal acquiring 100% of the issued and outstanding shares of GreenWave Inc. of Calgary, Alberta, Canada.
    GreenWave provides a variety of revolutionary and innovative, technical solutions to the many traffic problems that plague our transportation routes today.
    GreenWave's primary system is the adaptive self-evaluating and self-adjusting Wireless Adaptive Gray Scale System (WAGSMS). GreenWave's secondary system is the Wireless Traffic Synchronization System (WTSS) that utilizes a process that calculates and recommends the speed that will enable the driver to travel unimpeded through major traffic corridors within the 'Green Wave'.