Rival Technologies Signs Letter of Intent

    VANCOUVER, British Columbia--May 7, 2003--Rival Technologies Inc., (OTCBB: RVTIF), announced today that it has signed a Letter of Intent to acquire a diesel engine technology known as WIS from M.A. Turbo/Engine Ltd.
    WIS is designed as an external retrofit for diesel engines. It provides a simultaneous reduction in diesel emissions and increased fuel efficiency, while not affecting engine performance. Rival intends to develop and market WIS for the automotive transportation industry.
    WIS is currently being installed on large marine engines. Users of the technology include: BC Ferries, Blue & Gold Fleet of San Francisco, Algoma Central Marine, and Cargill International.
    The terms of the Letter of Intent provide for Rival acquiring a 100% interest in the WIS technology relating to the automotive transportation industry in exchange for common shares of Rival and a royalty on sales. Rival has a commitment to fund US$230,000 for further development. Rival also acquired has an option on the existing marine application for an additional US$500,000.
    M.A. Turbo/Engine Ltd. is a private Vancouver based company specializing in the development and marketing of engine emission control and fuel saving systems. The President, Anatoly Mezheritsky, PhD. PEng. has over 40 years of experience in engine emissions control. Dr. Mezheritsky and M.A. Turbo/Engine Ltd. will continue to be in charge of development and installations.
    The transaction is expected to close later this month.
    The Company has terminated its license agreement with Water Solutions Inc.

    On behalf of the Board of Directors
    Perry Gugliemi, President

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