Advanced Engine Technologies Implements Enhancements to OX2 Engine; Testing Resumes as Design, Performance Improvements Are Initiated

22 November 2000
Advanced Engine Technologies Implements Enhancements to OX2 Engine; Testing Resumes as Design, Performance Improvements Are Initiated
    LOS ANGELES, Nov. 22 Advanced Engine Technologies, Inc.
(OTC Bulletin Board: AENG) today announced that it has implemented a number of
design and performance enhancements to its OX2 internal combustion engine.
    The modifications, made by inventor Steven Manthey, focus on changes to
the engine's intake ports in an effort to improve performance at higher RPMs.
Manthey, who will oversee testing at the University of California, Riverside's
CE-CERT laboratory, will examine three different cam profiles as part of the
refinement and development efforts that will involve three OX2 engines.
    "Initial testing of the OX2 engine has paved the way for new directions
that AET can take in the process to further enhance performance," said
Advisory Board Member Dr. Roberta Nichols, who recently joined the company's
Board after spending 16 years as a manager in the development of alternate
fuel vehicles at Ford Motor Company.
    AET also announced that automotive manufacturing and racing legend Carroll
Shelby has agreed to serve as the company's president while the engine
undergoes testing.  Operational policies and decisions, however, will continue
to be promulgated by AET's Board of Directors.
    Advanced Engine Technologies recently relocated its headquarters to
11150 W. Olympic Boulevard, Suite 1050, Los Angeles, California, 90064.
Investor inquiries can be directed to the company at (310) 914-1843.
Additional information pertaining to the OX2 engine can be accessed through
the company's Web site, http://www.oxtwo.com.

    Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995
    This release may contain forward-looking statement involving risks and
uncertainties that may cause actual future events or results to differ
materially and adversely from those described in the forward-looking
statements.  Important factors that may cause such a difference for AET
include, but are not limited to, whether our engine products are viable,
whether a market for our products develops, our ability to retain key
management, our ability to hire and retain the technical personnel necessary
to build our products, the availability of funding for future operating
requirements, our ability to effectively predict or react to rapid
technological changes that could render our products obsolete, product
development delays, dependence on suppliers, our potential exposure to product
liability and other tort claims if our products fail, our ability to protect
our intellectual property, intellectual property disputes, and other factors
discussed in AET filings from time to time with the Security and Exchange
Commission.  AET cautions that the foregoing list of important factors is not
exclusive.  AET disclaims any obligation to revise or update any
forward-looking statement that may be made from time to time by or on its
behalf.