The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Turbodyne Technologies Announces Halt in Trading

25 January 1999

Turbodyne Technologies Announces Halt in Trading on the Easdaq Market and the Nasdaq SmallCap Market


    WOODLAND HILLS, Calif.--Jan. 22, 1999--Turbodyne Technologies Inc. Friday announced that trading in its shares on the Easdaq Market as well as the Nasdaq SmallCap Market has been halted.
    Easdaq has advised the company of its initiation of disciplinary proceedings against the company. Nasdaq has advised the company of its initiation of proceedings relating to a possible delisting of the company's shares.
    The company has arranged for a hearing with Nasdaq relating to this matter and intends to request a hearing with Easdaq relating to the potential withdrawal of admission to trading in that market. Management of the company strongly believes that it will make a compelling presentation for continued listing.
    Turbodyne Systems, the Engine and Pollution Technology Division of Turbodyne, designs, develops, manufactures 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.; New York; Ensenada and Mexico City, Mexico; Vancouver, Canada; Northants, England; Paris; and Frankfurt, Germany.
    Turbodyne's World Wide Web address is:www.turbodyne.com.


    With the exception of the historical information contained in this news release, the matters discussed above 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 ability of the company to prepare a comprehensive and detailed response to Nasdaq and Easdaq within the time permitted by these authorities. The failure of any of these factors would cause actual results to differ materially from the forward-looking statements discussed above.