Turbodyne Announces Share Buy-Back Plan

17 September 1998
Turbodyne Announces Share Buy-Back Plan
    WOODLAND HILLS, Calif., Sept. 17 -- Turbodyne Technologies
Inc. (Nasdaq: TRBD; EASDAQ) announced today that its board of directors has
authorized the company to buy up to $3.5 million of its shares of common
stock.  The Company has approximately 41 million shares of common stock
outstanding.
    "The repurchase program demonstrates our confidence in the company's
future and supports management's belief that the company's common stock is
significantly undervalued at current market levels," said Turbodyne's Chairman
Edward Halimi.  "Additionally, at its current trading levels, we believe the
stock is an excellent value and that the repurchase program will serve well
our stockholders and the company.
    "The actual number of shares repurchased, and the timing of the purchases,
will be based on the company's stock price, general economic conditions and
other factors," he added.  "The company remains in a strong financial
position.  If share prices remain at current levels, we will look to make
repurchases of our stock, which we feel is a proper way to maximize
stockholder value."
    Turbodyne Systems, the Engine Technology Division of Turbodyne, develops,
manufactures, designs and markets patented pollution-reduction, fuel economy
and performance enhancing products 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, Calif.; Ensenada and Mexico City, Mexico; Vancouver, Canada;
Northants, England; Paris, France and Frankfurt, Germany.
    Please visit Turbodyne's website.  The 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 and other factors detailed from time to time in the
company's SEC reports, including its 1997 Form 20-F.