Energy & Engine Technology Corporation Announces New Publicity Initiative And Reports on Progress of AXP 1000 Program

PLANO, Texas, July 22 -- Energy & Engine Technology Corporation's (BULLETIN BOARD: EENT) (EENT) President & CEO, Willard G. McAndrew, III, has announced today that it has initiated an aggressive investor relations and public relations campaign. With its ir/pr firm, it will embark on a multi faceted strategy, which will include seminars, visiting investment clubs and an investor awareness campaign.

EENT has made significant progress with its AXP 1000 Program. In June 2003, BMZ was named as the exclusive contract manufacturer for EENT's AXP 1000, entitling BMZ to assemble, package and ship AXP 1000 units. In a recent meeting in Florida with BMZ, McAndrew and EENT CFO, Roger Wurtele, were present for the first "side rail" installation of an AXP 1000 unit, on a truck which is part of an 8,000 truck fleet. Upon successful testing of this side rail mounted unit over the next several months, EENT will gain access to the entire fleet. For each 1,000 units sold, EENT generates gross revenues of approximately $5,000,000 and net revenue of approximately $1,000,000. The size of the long haul trucking industry in the U.S. is approximately $2.5 billion in annual revenues.

EENT has also engaged in further discussions with BMZ regarding a possible equity purchase by EENT in BMZ. EENT has prepaid deposits for 180 generators with BMZ and 150 engines with Lombardini, both to be delivered by the end of August 2003.

EENT's new product, the AXP 1000, is an idle reduction technology device designed for new installation and retrofit to semi truck tractors which provides power generation without running the truck engine. The AXP 1000 maintains battery power and powers the sleeper cab thereby reducing fuel consumption, pollution and long term truck maintenance costs.

BMZ (www.bmzgenerators.com ) is a Pompano Beach, FL manufacturing concern which has over 30 years of experience providing customers with equipment and service in the areas of power generators and custom designed/built power equipment for various industrial, military, and trucking applications.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Energy & Engine Technology Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology and energy industries, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Energy & Engine Technology Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors.