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Puradyn and American Funding Group Form Stragetic Alliance

23 February 2000

Puradyn and American Funding Group Form Stragetic Alliance Partnership to Offer Innovative Truck Leasing Program

    BOYNTON BEACH, Fla.--Feb. 23, 2000--Richard C. Ford, CEO of Puradyn Filter Technologies, Inc. (OTC BB: PFTI), today announced that American Funding Group (AFG), an equipment leasing organization, has joined with the Company in a lease incentive program now being offered by AFG to reduce maintenance costs and improve performance for truck lessees.
    Under this program, American Funding Group is including a free Puradyn(TM) On-Board filtration system, including installation, on every truck leased with a Preventative Maintenance Lease Option. This feature can save lessees thousands of dollars in preventative maintenance over the life of the lease. William Gruits, Chairman of AFG, stated, "We know and appreciate the value of preventative maintenance. We embrace our partnership with Puradyn as an opportunity to provide the latest technology to our customers from the most trusted name in oil filtration systems in our industry." American Funding Group, with national headquarters in Rochester, Michigan, specializes in leasing over-the-road vehicles to midsize fleet operators and contract carriers. It also leases heavy construction equipment and vehicles, as well as machine tools and warehouse equipment, such as forklifts and conveyor systems. AFG is responsible for putting over 2,500 trucks in service since its founding in 1990. Mr. Ford commented, "We are pleased to join with AFG in this innovative new leasing arrangement. This association is additional confirmation of the Puradyn Filter's effectiveness and the increasing acceptance of the technology in the industry."
    Puradyn Filter Technologies, Inc. manufactures and markets the Puradyn(TM) On-Board Oil Refiner, a unit that continuously purifies lubricating oil and greatly reduces (or eliminates) the necessity for oil changes. The refiner also extends the useful life of the equipment. The Puradyn system is effective for internal combustion engines, hydraulic applications and automatic transmissions in the automotive, transportation, construction, marine, agriculture, mining, military and power generating industries. In addition to the economies realized by the reduced purchases of new oil and the costs of disposing of used oil (up to 90%) and extended equipment life, the Puradyn(TM) On-Board Oil Refiner has been certified as a "Pollution Preventing Technology" by the California Environmental Protection Agency.

    This release contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may cause Puradyn's actual results and performance in future periods to be materially different from any future results or performance suggested by these statements.