Amerityre Corporation Forms Advisory Group

Lee Iacocca and Joseph Grano, Jr. Become First Members

Publishers Disclosure: Certain of the owners of The Auto Channel also hold an equity position in Amerityre.

AKRON, Ohio, Sept. 22 -- Amerityre Corporation (BULLETIN BOARD: AMTY) announced today from ITEC 2004 that Lee Iacocca and Joseph Grano, Jr. will become the first members of the company's advisory group.

The advisory group is established to consult with Amerityre's board of directors on key areas such as strategic planning and partnering. Mr. Iacocca will serve as chairman of the advisory group and Mr. Grano will serve as vice chairman. The advisory group will meet with the board of directors at least once per fiscal quarter.

"We are pleased to establish an advisory group anchored with two industry icons such as Lee and Joe," said Richard Steinke, president and chairman of Amerityre. "Lee's reputation as a successful manager and problem solver along with Joe's recognized position as one of Wall Street's best strategic planning and marketing executives will provide us with the guidance necessary to launch Amerityre's industry-changing tire technology."

Known as "The Father of the Mustang," Mr. Iacocca served as president of Ford Motor Company from 1970 to 1978. After leaving Ford, Mr. Iacocca became president and chairman of the Chrysler Corporation, where he initiated a fiscal program that helped the financially struggling automaker out of bankruptcy, including the repayment of all government loans and the successful introduction of the first car-based minivan.

"In my 40-plus years experience in the automotive industry, Amerityre's car tire technology has the most potential to change the industry as we know it," said Mr. Iacocca.

Mr. Grano has been one of the financial service industry's leading executives over the past 30 years. He currently heads Centurion Holdings, LLC and serves as chairman of the President's Homeland Security Advisory Council. Previously, Mr. Grano was chairman and CEO of UBS PaineWebber and prior to the two companies' merger, Mr. Grano was president of the PaineWebber Group where he oversaw the acquisition of Kidder, Peabody and J.C. Bradford and was instrumental in the merger of PaineWebber and UBS.

"Amerityre is in the unique position with the development of their industry-changing tire technology," said Mr. Grano. "I look forward to helping management and the board of directors build the necessary tools to bring this revolutionary technology to market."

About Amerityre Corporation

Amerityre is the developer and owner of proprietary and patented technology for manufacturing tires from polyurethane. Amerityre has two distinct technologies for tires: Closed-cell polyurethane foam; and Polyurethane elastomer. In April 2004, Amerityre announced that it had developed a polyurethane passenger car tire and manufacturing technology to manufacture automobile tires from polyurethane that comply with Federal Motor Vehicle Safety Standard No. 109 for new pneumatic tires.