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Global Technovations Receives Orders for Five OSA-II Units; Expanding MotorCheck OSA-II Presence in the Auto Auction Market

16 October 2000

Global Technovations Receives Orders for Five OSA-II Units; Expanding MotorCheck OSA-II Presence in the Auto Auction Market

    PALM BEACH GARDENS, Fla.--Oct. 16, 2000--Global Technovations, Inc. ("GTI" or the "Company") (AMEX:GTN) announced today that five more of its MotorCheck(TM) On-Site Used Oil Analyzers ("OSA-II") units have been requisitioned by automobile auctioneers under revenue generating leases. Four of the units will be placed at four separate Manheim Auto Auction, Inc. ("Manheim") locations throughout the United States, which will bring to eight the total number of OSA-II units in use at Manheim locations. The fifth unit is being shipped to Adesa Auctions at its Franklin, Ohio automobile auction group. This is the Company's first placement within the Adesa Auction Group.
    Manheim, headquartered in Atlanta, Georgia, is the largest, highest volume wholesale automobile auction company in the world. Currently, Manheim has over 60 auction locations in the USA and Canada, nine auction locations in the United Kingdom and a new location in Puerto Rico, plus additional locations through its subsidiary ADT.
    Will Willis, GTI's President and CEO, stated, "OSA-II awareness has significantly increased throughout the Manheim automobile chain resulting in growing OSA-II usage. We initially budgeted for 15 OSA-II placements at Manheim locations by mid-year 2001. We are running ahead of plan and making good progress toward our ultimate goal of getting OSA-IIs firmly entrenched in all 70 Mannheim auto auction centers. Last year, Manheim handled more than 5.2 million vehicles. We believe that this market segment will continue to develop into an important one for us, similar to that of our successful Speedco placements of 40 units throughout the U.S."
    Dave Rieger, Reconditioning Manager at Manheim's Metro Detroit Auto Action located in Flat Rock, Michigan, commented, "Dealers are increasingly asking for an OSA-II check-up to determine the internal condition of an engine. OSA-II analysis has revealed otherwise undetectable coolant leaks, fuel dilution, and general wear and tear. It's quick, accurate and performs like a blood test for an auto engine."
    Tom Knighten, Warranty Insurer, commented, "MotorCheck(TM) supplies an effective low cost solution in the marketplace for quality certification."
    Mr. Willis continued, "The Company is also in the process of working with two large Internet companies, to establish national certification network centers in major cities, which will verify the working condition of a used car before it is purchased via the Internet. In addition to this, the Company continues to work with an international warranty insurance company to offer automobile owners certification and warranty programs domestically and overseas."
    Global Technovations, Inc., develops, assembles, and markets the patented MotorCheck(TM) and TruckCheck(TM) On-Site Analyzer, "an oil analysis mini-lab in a box", and manufactures, assembles and distributes audio speakers for the automotive industry through its Onkyo America subsidiary, which is one of the largest manufacturers and distributors of audio speakers in North America.

    Forward-Looking Statements

    The statements discussed in this press release relating to the Company's expectations that it will place revenue generating OSA-II units in all 70 Manheim locations and that it will enter into an agreement with one or two large Internet companies to establish national certification centers in major cities are a forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
    Results anticipated by forward-looking statements may not occur. These statements are subject to risks and uncertainties that could cause results to differ materially from those contemplated in the above forward-looking statements. Such risks and uncertainties include the following: (1) the acceptance of the OSA-II technology by the marketplace, (2) potential future competition from third parties that may develop proprietary technology, which either does not violate the Company's proprietary rights or is claimed not to violate the Company's proprietary rights, (3) the decision by individual Manheim locations not to enter into OSA-II leases, (4) the continued reliability of the OSA-II technology over an extended period of time, (5) the Company's ability to market OSA-IIs, and (6) the inability of the Company to agree to contractual terms with one or two large Internet companies to establish national certification centers. Investors should also consider information contained in documents filed by the Company with the Securities and Exchange Commission.