First American Clock Co. Issues Letter to Shareholders

28 January 1999

First American Clock Co. Issues Letter to Shareholders

    SALT LAKE CITY--Jan. 28, 1999--

    LETTER TO SHAREHOLDERS

Dear Shareholder:

    We are pleased to announce that the Company has entered into a Letter of Intent to acquire all of the issued and outstanding common stock of EVX, Inc., a privately-held Nevada corporation with its principal headquarters located in New York City.
    The proposed acquisition of EVX is subject to numerous conditions including the Company raising a minimum of $4,000,000 and other matters. The proposed acquisition will involve recapitalization of the Company, change of management, change of corporate name, a 3.3 for 1 forward split, change of corporate headquarters and other significant matters, if the acquisition is completed.
    EVX was founded in January 1998, by Malcolm Bricklin to serve as an electric vehicle, sales, marketing and design enterprise. Mr. Bricklin currently serves as chairman of the board and CEO of EVX. Mr. Bricklin is known throughout the world as one of the motor vehicle industry's leading entrepreneurs and marketers. He has over thirty years of experience in designing engineering, manufacturing, importing, and marketing automobiles and electric bicycles.
    The business of EVX is proposed to include: (1) conversion of existing commercial and government vehicle fleets from internal combustion to electric power utilizing advanced hybrid fuel cell technology; (2) integration of the best alternate fuel technologies and strategic alliances into practical transportation applications; (3) the development and distribution of new special purpose vehicles employing state of the art hybrid-electrical-chemical propulsion systems; and (4) acquisitions of companies developing alternative fuel systems. EVX is a development stage enterprise.
    Additional information regarding this proposed transaction and the business of EVX will be provided to shareholders as work on this proposed transaction proceeds. We appreciate your continued support and confidence as shareholders of the Company.

    Sincerely yours,

    FIRST AMERICAN CLOCK, CO.
    By: Mick Jardine, President