Tice Announces Sale of MidSouth Sign Company

    KNOXVILLE, Tenn.--April 9, 2003--Tice Technology, Inc. (OTCBB:TICE) announced today it had sold its subsidiary, MidSouth Sign Company, Inc. ("MidSouth") effective March 31, 2003. MidSouth was purchased by its current manager, and will continue to operate at its Knoxville, Tennessee manufacturing facility. Tice sold its interests in MidSouth to comply with terms of its previously announced letter of intent to purchase the assets of Atmospheric Glow Technologies, LLC ("A-G Tech"). Tice will realize a gain on the disposal of MidSouth of approximately $175,000.
    On July 3, 2002, the Company signed a letter of intent with A-G Tech. Assuming execution of a definitive agreement, Tice will acquire the assets of A-G Tech, subject to Tice meeting certain conditions. These include Tice meeting a minimum threshold of $6.5 million in new funding, divesting itself of both LandOak and MidSouth, obtaining the approval of its shareholders for an increase the number of authorized shares, completing a definitive purchase agreement with A-G Tech by June 30, 2003, and other more minor conditions. If this transaction is successfully consummated, A-G Tech will receive approximately 87.5 million Tice common shares and 500,000 Tice Class B common shares. A portion of the new funding requirement has been met, and other conditions are expected to be met by June 30, 2003.
    A-G Tech is a Tennessee limited liability company formed to advance the patented One Atmosphere Uniform Glow Discharge Plasma (OAUGDP(TM)) technology and develop related products for commercialization in multiple large international markets. Management believes that the OAUGDP(TM) is an exciting breakthrough technology offering capabilities that other plasma technologies cannot provide. Because of its proprietary unique features, OAUGDP(TM) costs less to generate and therefore Tice management believes that its products will prove viable in a number of markets where other plasma technologies are too expensive and/or technologically impracticable. Moreover, AG Tech's OAUGDP(TM) is expanding the applicability of its technology and has targeted new market and product opportunities to create additional value.
    Tice is a publicly traded holding company now with two wholly owned subsidiaries:
    LandOak Company, Inc., until recently, an automobile and equipment rental and leasing Company for individual and commercial clients throughout the upper East Tennessee area. LandOak is expected to be divested by June 30, 2003.
    Tice Engineering and Sales, Inc. (founded in 1965), until August 2001, provided engineering and technical solutions for specialized, industrial sewing equipment and is widely known in the apparel industry for its patented Electronic Gearing Technology. Recently Tice Engineering and Sales was awarded another patent for its Electronic Gearing Technology, Inc. in Mexico. The Company receives royalty income on this patented technology through a license agreement with an international sewing machine manufacturer.

    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.