Torvec and City of Rochester Working Together
17 February 2000
Torvec and City of Rochester Working TogetherTorvec Plans to Locate Manufacturing Site in Rochester 'A Solid Future for the Company and the People of Rochester' ROCHESTER, N.Y., Feb. 16 -- Torvec, Inc. (OTC Bulletin Board: TOVC), developer of advanced automotive technologies, today announced that it plans to locate a manufacturing site in the City of Rochester to produce Torvec's Fast Tracked Vehicle. Keith Gleasman, President of Torvec, said, "Rochester is blessed with an abundance of highly skilled people and a welcoming business environment. Many of Torvec's key technologies were developed right here in Rochester, and the Fast Tracked Vehicle will be Rochester's own. The City's Economic Development Department has given us a powerful leg up in selecting appropriate sites and working with us to close a deal." Fashun Ku, Commissioner of the City of Rochester Economic Development Department, is an enthusiastic supporter of Torvec's FTV(TM) and of the Company's decision to locate their manufacturing site in Rochester. When recently contacted, Mr. Ku said, "We are extremely pleased that Torvec and the Gleasman family have decided to honor their home town with this significant investment of their futures, their technology and intellectual property and their hard work, which will benefit our City and our whole region with new jobs and an infusion of new intellectual and economic capital. We feel strongly that the state-of-the-art engineering and breakthrough products developed by Torvec represent a solid future for the Company and the people of Rochester who will work in it and benefit from it. For these reasons, the City welcomes Torvec and will do everything we can to support its start here, and to be an on-going partner in its continued success in the City of Rochester." Torvec is preliminary discussions to acquire a manufacturing site for the Company's unique Fast Tracked Vehicle. In bringing the FTV to market, Torvec may form a joint venture or enter into a licensing agreement with a major automotive company. The Company is currently negotiating with several such companies and makes no guarantee that these negotiations will be successfully completed. Torvec's FTV brings its own road with it, making it ideal for unpaved areas comprising most of Asia, Africa and South America where millions of trucks and 4x4s are sold each year. Torvec believes that the FTV could capture a meaningful share of these markets. The FTV is designed to be competitive in price with light trucks. The FTV smoothly navigates the roughest terrain off-road with higher payloads than 4x4s and trucks. The FTV can reach highway speeds on paved roads, and leaves no ruts due to its very low ground pressure. None of the millions of four-wheel drive vehicles produced every year, and no track vehicle, combine all the FTV's advantages. The FTV can be viewed at Joseph Niri Chevrolet on Route 104 in Williamson, New York. Readers are encouraged to visit http://www.torvec.com. For more information contact Mr. Jim Gleasman at 716-248-8549. This press release contains forward-looking statements based on current expectations that are subject to risks and uncertainties, especially in regards to sale, stock exchange, merger or licensing negotiations and others outlined in the Company's 10-K statement.