Airtrax Awarded Third Omni-Directional Wheel Patent

HAMMONTON, N.J., May 29, 2003 -- Airtrax Corporation (BULLETIN BOARD: AITX) has been granted Patent 6,547,340 by the United States Patent and Trademark Office. This Patent is the third of four applications regarding enhancements to the Omni-Directional wheel.

Patents 6,340,065 and 6,394,203 were issued by the US Patent and Trademark Office in 2002 (see Press Release September 2002) and relate to Airtrax's non round omni wheel concept and the design method. The non round wheel feature is engineered to minimize ride height fluctuation and increases load capacity.

According to D.B. Harris, Airtrax VP, "This patent contains claims that will thwart competitors attempting to mimic Airtrax's omni wheel performance by using materials of differing compliance or via surface treatments such as grooves or siping. These techniques could be used to achieve the level ride height of the non round omni wheel, but at reduced load capacity."

Airtrax develops, markets, and sells products incorporating omni directional vehicle technology. A key ingredient in any omni directional vehicle is the wheel. Engineers have wrestled with the omni wheel to increase load capacity and improve high-speed ride quality for decades. Past omni wheel technology has emphasized roller profiles that, when assembled in the wheel frame, present an unbroken round profile to the ground surface. In April of 2000, Airtrax applied for patent protection for its omni wheel design that deviates from the round exterior profile traditionally pursued by omni wheel designers.

Airtrax recently announced a mid-year US production schedule for the ATX Sidewinder commercial omni directional forklift. Pilot models of the ATX-Series are undergoing final testing.

"The ATX-3000 will sell at prices very competitive with any forklift on the market today," explained Peter Amico, President. The Company is also developing product lines incorporating omni-directional vehicle technology for use in material handling, construction, health care, and entertainment.

A three (3) minute video showing the ATX-Sidewinder forklift in action can be seen on the Company website, at: www.airtrax.com. For more information or to receive an interactive CD-ROM about Airtrax, Contact: Airtrax, POB 1237, Hammonton, NJ 08037-1237 or e-mail: info@airtrax.com

This document contains forward-looking statements that are subject to risks and uncertainties. For such statements Airtrax claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act. The Company intends that such statements about the Company's future expectations including future revenues and earnings and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Readers should refer to the Company reports filed with the Securities and Exchange Commission, which includes its Form 10-KSB for the period ended December 31, 2002 and subsequent filings, for a discussion of risks and uncertainties regarding the Company and its business.