Torvec, Inc. Announces Management Changes

ROCHESTER, N.Y., Aug. 22, 2005 -- Torvec, Inc. announced today that Philip Fain has been removed from the positions of Chief Executive Officer and Chief Financial Officer and Read McNamara has been removed as Chairman of the Board. The removal was voted on by the Executive Committee of the Company's Board of Directors, which is composed of a majority of the entire Board of Directors of the company and a majority of its current independent number of directors. The Executive Committee has engaged an independent special counsel to conduct an investigation involving Messrs. McNamara and Fain. While Messrs. Fain and McNamara continue to serve as directors of the Company, based upon the contents of a report received from such independent counsel, the Executive Committee removed Mr. Fain from his officer positions and removed Mr. McNamara as Chairman effective August 19, 2005. The Executive Committee has elected Gary Siconolfi as Chairman of the Board, and James Gleasman as Chief Executive Officer and interim Chief Financial Officer, effective August 19, 2005.

The Executive Committee's actions are intended to permit the Company to return to normal operations. Due to the circumstances, the Company will not file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2005 in a timely manner. The Company expects to file this Quarterly Report next week.

About Torvec, Inc.

Torvec, Inc., based in Rochester, New York, develops advanced automotive technologies that increase transportation safety, mobility, fuel efficiency and reduce soot emissions. Torvec owns the technologies for an Infinitely Variable Transmission that reduces diesel soot emissions, a Fast Tracked Vehicle (FTV(TM)) that goes where no 4x4 can, novel designs of hydraulic pumps and constant velocity joints, and Ice Technology to increase tire traction on ice and de-ice windshields. Torvec's founders invented the famous Torsen(R) differential used in high-performance vehicles. To learn more about Torvec's many technologies and view a video of its FTV(TM), visit http://www.torvec.com/.

This news release contains forward-looking statements that are based on current expectations, estimates and projections about the company and its plans for future operation, as well as management's beliefs and assumptions. Words such as "expects," "anticipates," intends," "plans," "believes," "seeks," "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.