Johnson Matthey and Clean Diesel Technologies Announce Agreement

14 June 1999

Johnson Matthey and Clean Diesel Technologies Announce License Agreement Under Johnson Matthey Patents for Use of Platinum Fuel Additive With Diesel Particulate Filters

    STAMFORD, Conn.--June 14, 1999--The Catalytic Systems Division of Johnson Matthey PLC (JM) and Clean Diesel Technologies Inc (EBB:CDTI), of Stamford, have announced that they have agreed a non-exclusive license under Johnson Matthey's patent rights to its Continuously Regenerating Technology.

    The license, which involves the payment by Clean Diesel Technology of an undisclosed sum and royalty payments until the expiry of the CRT(TM) patents, is regarded by Johnson Matthey as confirming the importance of its patent rights to its unique CRT(TM) diesel particulate removal system.
    Neil Carson, director of JM's Catalytic Systems Division said, "JM's Continuously Regenerating Technology is the system of choice in removing particulates from the exhausts of heavy duty diesel engines. JM is progressing with many new developments in this field to continue to meet the future requirements of legislation and the marketplace. This agreement with Clean Diesel Technologies supports our intentions to be world leaders in diesel exhaust technology."
    Commenting on the license, Jeremy Peter-Hoblyn, president of Clean Diesel Technologies said, "This license agreement with JM, combined with CDT's patents and patent applications, enhances our proprietary position on the use of our platinum-based fuel additives for improving the performance of diesel particulate filters and it provides customers with another option in their selection of the most suitable diesel emission control technology."
    He added, "Clean Diesel Technologies is working with Johnson Matthey to develop future technologies for the benefit of the environment, and we're looking forward to increased business links in the years to come."
    Clean Diesel Technologies is a development stage company with patent protected products that reduce emissions from diesel engines while simultaneously improving fuel economy and power. R&D efforts and products are grouped into two categories: PFCs and NOx Reduction Systems.

    Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

    Note to Editors: Platinum Plus is a registered trademark of Clean Diesel Technologies.