Turbodyne Announces Passing Away of Founder

CARPINTERIA, Calif., July 22 -- Turbodyne Technologies, Inc. (BULLETIN BOARD: TRBD, Berlin: TUD) (the "Company") regrets to report that the Company's founder, Mr. Edward Halimi, has passed away after a lengthy illness. Mr. Halimi was one of the inventors of the Company's original patented technology and assisted in the development of the Company's original products. Mr. Halimi served as the chairman of the Company's board of directors until October 1999 and as president and chief executive officer until March 1998. Mr. Halimi has served as a consultant to the Company in recent years. The Company extends its condolences to Mr. Halimi's family.