Turbodyne News 04.01.02 (Reacquires Patent and Intellectual Property Rights) - 500 Beiträge pro Seite

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Turbodyne Reacquires Patent and Intellectual Property Rights

CARPINTERIA, Calif., Jan 4, 2002 /PRNewswire via COMTEX/ -- Turbodyne Technologies Inc. (OTC: TRBD) ("Turbodyne") announced today
that effective January 1, 2002 it has reacquired on at least a nonexclusive basis all of the patent, intellectual-property and manufacturing rights
which were the subject of licensing and joint-development agreements made in 1999 with Honeywell International, Inc. Turbodyne said the
reacquired rights include sublicensing rights with respect to the entire portfolio.

In a multibillion-dollar suit pending in United States District Court in Los Angeles, Turbodyne contends that the agreements with Honeywell
were invalid in their inception under federal antitrust laws because they were made and used by Honeywell not to develop the Turbodyne
technology but to suppress it and exclude Turbodyne from the market. If Turbodyne`s contentions are sustained in the suit it will have regained
exclusive rights to the technology. However, Turbodyne said that because Honeywell failed to obtain production commitments for the
Dynacharger(TM) and Turbopac(TM)?product lines by certain dates, all of which have now passed, Turbodyne has regained the rights on a
nonexclusive basis regardless of the outcome of the suit.

Turbodyne said that its reacquisition of patent and intellectual-property rights would enable it to proceed with negotiations with several
interested parties for nonexclusive licensing of the technology and with interested auto and engine manufacturers for development and supply
contracts. The company warned that there could be no assurance at the present time that any such agreements will be concluded.

Turbodyne also announced the appointment of Edward M. Halimi and Dr. William E. Woollenweber, principal engineers and inventors of the
Turbodyne technology, as consultants to lead the company`s efforts to reestablish relationships with the auto industry and develop new product
lines.

Mr. Halimi is the founder of Turbodyne and a veteran of more than thirty years of experience as a mechanical and automotive engineer. He
holds several patents in the automotive and high-technology fields.

Dr. Woollenweber is a veteran executive and engineering manager in the international turbocharger industry. He is widely recognized as the
innovator of the modern turbocharger and one of his designs is on display at the Smithsonian Institute. He is a past general manager of the
Holset Corporation (U.S.), a subsidiary of Cummins Engine Company and a leading manufacturer of turbochargers.

Turbodyne also announced the appointment of Kenneth Fitzpatrick as Vice President, Corporate Finance and Gary Reid of Montecito,
California as Director of Investor Relations. Both men are executives with more than thirty years of experience in the fields of finance and
investments.

This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements
about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties
inherent in business forecasts.


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SOURCE Turbodyne Technologies Inc.


CONTACT: Laura Ricci of Turbodyne Technologies, Inc., [phone]

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