AuGRID Corporation Announces Talks With Auto Suppliers

    CLEVELAND--Dec. 10, 2002--AuGRID Corporation (OTCBB:AGRD), a manufacturer and distributor of high-tech electronic display devices, today announced that they are in discussions with three major auto suppliers to produce a series of flat panel displays. Non-disclosure agreements have been signed.
    "We're now initiating activity to begin exposure of our products into the marketplace," stated M.J. Shaheed, President and CEO of AuGRID Corporation. "Interest in our organization is increasing rapidly and we are looking forward to the beginning of a very exciting 2003."

    FORWARD LOOKING STATEMENT: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AuGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AuGRID Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to AuGRID Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AuGRID Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AuGRID Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.