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International Fuel Technology Inc. Holds Annual Shareholders' Meeting

5 May 1999

International Fuel Technology Inc. Holds Annual Shareholders' Meeting in Las Vegas

    LAS VEGAS--May 5, 1999--International Fuel Technology Inc. (OTC BB:IFUE) (IFT) held its annual shareholders meeting on April 26, 1999, in Las Vegas.
    Fred K. Jensen of Michigan, Jeffrey Slay and Glen Slay, both of St. Louis, and David Norris of Richmond, Texas, were all re-elected to the board of directors. Dan Willis of Brady, Texas was also elected as a director.
    Shareholders approved the continued engagement of California Environmental Engineers (CEE) to finalize testing of PEERDIESEL(R) (Performance Enhanced Emissions Reduced), IFT's reprocessed, cleaner-burning diesel fuel, at its Southern California laboratory to obtain California Air Resources Board (CARB) certification. CEE is the only recognized independent mobile emissions laboratory in Southern California that is both US EPA-recognized and CARB-certified.
    Shareholders further approved the engagement of a financial advisor to evaluate means to enhance shareholder value.
    Shareholders also retained William M. Hobby III to finalize a business patent. Previously, Hobby obtained the four trade and service marks of the corporation.
    McGladry & Pullen LLP, one of the largest certified public accounting firms in the United States, has been retained for a second year as IFT's independent auditors.
    Jensen, president, announced that the next annual meeting of shareholders will be held Aug. 14, 2000, in Las Vegas.
    Las Vegas-based International Fuel Technology is currently traded on OTC BB under the symbol IFUE. For more information on International Fuel Technology, call 702/873-5552 or visit its Web site at www.peerfuel.com.