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Advanced Engine Technologies Announces Completion of 3 Internal Combustion Engines

5 July 2000

Advanced Engine Technologies Announces Completion of Three Lightweight Internal Combustion Engines

    LOS ANGELES - Advanced Engine Technologies, Inc. has announced the 
completion of three lightweight internal combustion engines in the United States 
and Australia.

    Working in conjunction with the University of California Riverside and
world-renown expert Dr. Roberta Nichols, AET is conducting full-scale testing
and development, and expects to report test results every 30 days.  In
addition, the company will provide a status report to shareholders on a
monthly basis.

    Separately, AET also announced the resignation of Mr. Murray Bailey from
its Board of Directors.  Under a consulting agreement, Mr. Bailey will
continue to work with the Board to realize the success of the OX2 engine
project, which he helped to initiate through the establishment of AET in the
United States.