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Indy 500 Team Cheever Selects Innovative Technologies' Subsidiary

24 June 1998

Indy 500 Winner Team Cheever Selects Innovative Technologies' Subsidiary As Its Official Data Radio Provider

    WINTER PARK, Fla., June 24 -- Innovative Holdings &
Technologies, Inc. (OTC Bulletin Board: IHTL), today announced that its Biocam
Company, Inc. subsidiary will be providing 1998 Indy 500 winner Team Cheever
with its state-of-the-art MS 900 data telemetry radios. The first scheduled
use is at the June 28, 1998 Indy Racing League event at New Hampshire
International Speedway.
    "After our win at this year's Indy 500," Eddie Cheever said, "I have the
opportunity to equip Team Cheever with the best technology in motorsports...
and that includes the outstanding Biocam All Sports Telemetry data radios.
The use of market-leading technology, such as Biocam provides, is critical in
mounting a race-winning effort, and I believe that the use of such cutting-
edge technology can mean the difference in determining who sits in the
winner's circle.
    "And with the amazing new technologies Biocam is constantly creating,"
Cheever added, "don't be surprised if TV viewers, as well as my team members,
will, in the future, be feeling as if they are right there in the car with me
during the race, virtually experiencing every twist, turn and physical
reaction."
    Biocam Company is the official supplier of data radios to the Indy Racing
League.  In addition, for the second year in a row, the Biocam AST Wireless
Modem System is being used within the IRL to distribute timing and scoring
information to the teams, the press and VIP suites.
    Biocam provides Broadcast Telemetry services to ESPN/ABC-TV for the NASCAR
Winston Cup Series, the Busch Grand National Series and the NASCAR Truck
Series.  Plus, the company provides its AST data radios to many of the teams
in the FedEx CART Series.
    Biocam's AST System provides "real time" race car performance data (speed,
RPMs and braking action) that can be seen along with the in-car camera view
during NASCAR races broadcast by ESPN/ABC-TV.  Biocam's information site on
the in-car camera view is sponsored by Tabasco and is called "The Tabasco Hot
Zone."
    Innovative Holdings & Technologies, Inc. identifies, acquires and
incubates early stage niche technology companies with outstanding growth
potential.