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» July 5, 2000

Advanced Engine Technologies Announces Completion of Three Lightweight Internal Combustion Engines

LOS ANGELES, July 5 /PRNewswire/ -- Advanced Engine Technologies, Inc. (OTC Bulletin Board: AENG - news; AET) 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.

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