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DuraSwitch Grants Delphi an Option to Take $11.5M Common Stock

27 April 2000

DuraSwitch Grants Delphi an Option to Take $11.5 Million Common Stock Position

    PHOENIX, April 25 DuraSwitch Industries Inc. (Amex: DRA)
granted Delphi Automotive Systems (NYSE: DPH) a short term option to purchase
1.65 million shares of non-registered common stock at $7 per share.  The
option period is through June 30, 2000 to allow for Delphi's due diligence on
the transaction.  A Form 8-K is being filed by DuraSwitch with the SEC with
details and exhibits.
    The exclusive license signed with Delphi will bring in $4 million to
DuraSwitch within the next 30 days for the exclusive rights to utilize and
manufacture DuraSwitch's revolutionary magnetically coupled switch technology
for the automotive industry.  The initial term of the agreement runs through
June 30, 2007 and during this period Delphi is required to pay a minimum
$12 million in royalties to DuraSwitch.  Delphi also has a 2 year Warrant to
purchase 225,000 shares of common stock at $7 per share that will extend to a
4 year term if the above option to purchase 1.65 million shares is exercised.
    "We are excited to be part of the Delphi Team, combining our switch
technology with their state-of-the-art manufacturing capabilities," said Terry
Dunlap, Chief Executive Officer and Chairman, DuraSwitch.  "I'm confident that
by working together the opportunities to apply this technology will quickly
extend well beyond the automotive market."
    "We see Delphi as the perfect partner and it has been a pleasure working
through the structure of the exclusive licensing and equity stake agreements,"
said Bob Brilon, President and Chief Financial Officer, DuraSwitch.  "Their
strong global presence and resources will help us achieve our vision of
enhancing shareholder value through licensing our patented technology."