Energy & Engine Technology Announces Execution of Definitive Agreement to Acquire BMZ Generators and Related Intellectual Property

PLANO, Texas, May 19, 2004 -- Energy & Engine Technology Corporation (BULLETIN BOARD: EENT) (EENT) today announced that it has executed a definitive agreement to acquire the assets of BMZ Generators & Welders, Inc. (www.bmzgenerators.com ), its supplier of generators and contract assembler for the AXP 1000 product. The purchase price is a total of up to $2,000,000, with $500,000 cash subject to prepaid deposits and $200,000 to be paid directly by EENT to the contractor in the process of building out the interior of the new production facility to be occupied by EENT. The Facility is owned by Freddy Pereira, BMZ's owner who will lease to EENT on market terms. Additionally $500,000 in EENT restricted stock is due at the time of closing and presentation of complete documentation on the intellectual property being purchased, with up to $1,000,000 of restricted stock due over a period of 5 years, based on various performance criteria comprising the balance of the acquisition.

The acquisition will include the assembly facility for the AXP 1000 product (not including the underlying real estate), other assets of BMZ, and related intellectual property. The transaction is expected to close within the next 60 days, and the exact date is based upon certain practicalities, including, ability to move into the new facility and completion of an audit on BMZ's historical financials. EENT is to lease the 10,000 square foot Pompano Beach facility owned and currently being built out by BMZ's owner, Freddy Pereira.

BMZ, located in Pompano Beach, Florida, has been manufacturing generators for the automotive, marine, and other industries for over 30 years. Through the acquisition, EENT is not only securing its supply chain but will also be able to expand its business into the other industries in which BMZ has operated, with much interest in the military and marine sectors.

While assembly of AXP 1000 units has been slower than expected due to the existing strict space limitations at the current BMZ location, it is anticipated that, at full capacity, with more than one shift running per day, the facility could eventually produce 500 units per month, although initial capacity in the new facility is anticipated to be 100 units per month.

"Although the process has taken longer than originally anticipated, EENT's patience will pay off as the result is that the acquisition will enable EENT to better control production and assembly operations, which is necessary to meet anticipated increased demand for its AXP 1000 product line," stated Will McAndrew III, Chief Executive Officer of Energy & Engine Technology Corporation. "While the short and medium term goals of expansion of the AXP 1000 product are critical, there is also a long term play here. BMZ generators meet a wide range of needs for portable, stand-alone power units in the RV, marine, industrial and aviation industries that should allow us to target additional power generation opportunities in the future."

About Energy & Engine Technology Corporation (EENT)

EENT (www.eent.net ), headquartered in Plano, Texas, develops and markets auxiliary power generators for the long haul trucking industry. The Company's common stock is traded on the OTC Bulletin Board under the symbol "EENT".

The Company's flagship product, the AXP 1000, is an idle-reduction technology device, designed for new and retrofit installation on semi truck tractors, that provides power generation without requiring the operation of the truck's engine. Powered by an EPA-approved and CARB-certified engine, the AXP 1000 maintains the truck's battery power while delivering electricity for air conditioning, heating, and the operation of televisions, appliances and other devices, to the sleeper cab, thereby reducing fuel consumption, air/noise pollution and long-term truck maintenance costs. (Instead of the 10-15 gallons of diesel fuel consumed through idling each day, the AXP 1000 consumes approximately 1 gallon of diesel fuel in an equivalent amount of time.) The Company is targeting a significant market opportunity created by governmental mandates that limit the aggregate amount of idling time available to long haul truckers. Management believes that Federal and State regulations, along with new and more stringent legislation that became effective in January 2004, have paved the way for a $2.5 billion industry. There are an estimated 500,000 or more Class 8 sleeper trucks currently operating in the U.S., with over 80,000 new Class 8 trucks being produced each year. Management believes that even moderate penetration of the market for anti-idling devices could result in significant sales and earnings for the Company. Anticipated metrics on unit sales suggest that for each 1,000 AXP 1000 units sold (at $5,000 each), the Company should generate gross revenue of approximately $5,000,000.

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.