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Reg Technologies -- License Agreement Completed With Coltec

24 October 2000

Reg Technologies, Inc. -- License Agreement Completed With Coltec, Inc. For Rand Cam Internal Combustion Engine

    VANCOUVER, B.C.--Oct. 23, 2000--Reg Technologies, Inc. (OTCBB:REGRF) (CDNX:RRE.) wishes to announce that its US subsidiary company REGI U.S. Inc., (OTCBB:RGUS) has entered into a 5-year license agreement with Coltec, Inc. wherein REGI and Coltec have jointly agreed to participate in government sponsored research and development programs utilizing REGI's proprietary Rand Cam(TM) technology.
    REGI U.S., Inc. agrees to protect certain government and military products by granting a 5-year licence to Coltec.
    In consideration for the license agreement for the Rand Cam(TM) technology for certain military / government use, Coltec agrees to pay REGI U.S., Inc. 5% of the gross sales of all products sold. Coltec also agrees to reimburse REGI for its labour for phase I and phase II from the funds received by the government / military grants. It also agrees that all inventions that are improvements to the Rand Cam(TM) technology shall be granted to REGI under a perpetual, no-cost license for its products.
    Pat Badgley, Chief Engineer for REGI, stated that he is very pleased that we are working with Coltec's team of creative, high energy engineers with over 25 years combined expertise in the rotary engine development and engineering services.