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Turbodyne Reports the Sale of its Light Metals Division

4 January 2000

Turbodyne Reports the Sale of its Light Metals Division

    CARPINTERIA, Calif.--Jan. 4, 2000--Turbodyne Technologies Inc. (EASDAQ:TRBD) today reported that on Dec. 14, 1999, the Bankruptcy Court entered an order approving the sale of substantially all of the assets of Pacific Baja Light Metals Corp. ("PBLM"), debtor in a pending Chapter 11 case, to Hawthorne Partners II LLC or its assignee ("Hawthorne").
    The order required the sale to close on or before Dec. 31, 1999. The order also authorized Hawthorne to take control of PBLM's operations as of Dec. 13, 1999. While the decision for the sale has been made binding, the financial details are in the process of being finalized.
    Turbodyne Technologies Inc., a California-based high-technology company, specializes in the development, manufacture and marketing of proprietary pollution control, fuel economy and performance enhancement products for internal combustion engines in the global automotive, transportation, construction, marine, mining and military industries.
    Turbodyne Technologies Inc.'s headquarters and plant are located in Carpinteria; additional offices are located in Syosset, N.Y.; Paris; and Frankfurt, Germany.
    Turbodyne's World Wide Web address is: www.turbodyne.com