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» December 8, 2000

Advanced Engine Technologies Files Proxy Statement With SEC

LOS ANGELES, Dec. 8 /PRNewswire/ -- Advanced Engine Technologies Inc. (OTC Bulletin Board: AENG - news) today announced it has filed a proxy statement with the Securities and Exchange Commission for its annual shareholder meeting. The meeting will be held at 10 a.m. PT, on Thursday, December 28, 2000, at the Hilton-Los Angeles Airport, in Los Angeles, California. Shareholders will be asked to consider and vote on several issues and proposals as outlined within the proxy statement. The proxy statement shall be mailed to all shareholders of record, as of December 6, 2000, no later than Thursday, December 7, 2000.

Investor inquiries can be directed to the company at (310) 914-9599. Additional information pertaining to the OX2 engine can be accessed through the company's Web site, www.ox2engine.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.

SOURCE: Advanced Engine Technologies Inc.

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