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Turbodyne Becomes a U.S. Based Corporation

27 July 1998

Turbodyne Becomes a U.S. Based Corporation

    WOODLAND HILLS, Calif., July 27 /CNW-PRN/ - Turbodyne Technologies Inc.
announced today it has completed the domestication
process into the United States from Canada, making Turbodyne a United States
company, incorporated in the State of Delaware.
    ``Becoming a U.S. company is certainly a milestone for Turbodyne,'' said
Chairman Edward M. Halimi. ``This is a natural move for us, since a
substantial amount of Turbodyne's operations, and its corporate headquarters,
are based in California.''
    Management expects the company's shares to begin trading on the NASDAQ
exchange without the ``F'', or foreign designation, by the end of the week.
The new trading symbol will be TRBD, the same symbol it now trades under on
the EASDAQ exchange.
    ``Management believes that this change will provide a larger marketplace,
improved visibility and greater flexibility for Turbodyne's common shares and
expects that it will attract new investors who might previously have been
prevented from investing in foreign companies,'' continued Halimi.
    Turbodyne Systems, the high technology division of Turbodyne,
manufactures, designs, markets and develops patented pollution-reduction, fuel
economy and performance enhancing technology for internal combustion engines
in the automotive, transportation, construction, marine, agriculture, mining,
military and power generation industries. Turbodyne's light metals division is
a manufacturer of machined aluminum castings and a leading supplier to the
automotive industry.
    Offices and plants are located in Carpinteria, La Mirada, Encinitas and
Woodland Hills, CA; Ensenada and Mexico City, Mexico; Northants, England;
Frankfurt, Germany; Vancouver, Canada; and Paris, France.
    Turbodyne's world wide web address is : http://www.turbodyne.com

    Except for the historical information contained in this news release, the
matters discussed herein include forward-looking statements that involve risks
and uncertainties. Among the important factors that could cause actual results
to differ from those indicated in the forward-looking statements are the
availability and acceptance of the Turbodyne products, the impact of
competitive products and pricing, the performance by the company under
existing purchase contracts and the ability to obtain new contracts, the
ability of the company to contain expenses, conditions within the global
automotive market, general economic conditions, and political changes both
domestically and overseas.