OX2 Engine Reaches New Performance Thresholds Advanced Engine Technologies Inc. Engineers Reach New Performance Levels in Development of the OX2 Engine LOS ANGELES, April 22 /PRNewswire-FirstCall/ -- Advanced Engine Technologies Inc. (BULLETIN BOARD: AENG) announced today that testing and developmental progress on the OX2 engine continues as scheduled. As presented at the company's annual shareholder meeting in Los Angeles, California in November 2003, the current OX2 engine continues to out perform each of its previous test engines in overall horsepower and torque. The latest of AET's engines is its design level #2, OX2 engine #4 (OX2#4), where AET's engineers report a maximum horsepower of 35.5 hp at 1065 RPMs while also achieving maximum torque of 193 ft. lbs. at 900 RPMs. These baseline performance results were achieved without the retro-fitting of the OX2's newly designed port plate, which provides modifications to the port shape and size. This new port design is expected to improve the performance of OX2#4 based upon the test results achieved during its testing on OX2 engine #2, where intake and exhaust air flow velocity dramatically improved performance overall. Also unveiled at the company's shareholder meeting was AET engineer's concept and design of an OX2 Generator prototype. This design utilizes a separate generator head driven by an OX2 engine. The Company has begun beta testing and will report on progress in the company's next development update. The OX2 is a 4-stroke, 1.1-liter internal combustion engine that is 17 inches in diameter with a length of 13 inches and a total weight of 179 pounds in normally aspirated form. The compact engine weighs 75 percent less than and is half the size of traditional internal combustion engines. In addition, it offers the flexibility of being able to run on a variety of fossil fuels including gasoline, diesel, natural gas, liquid propane or methane. In addition, with far fewer moving parts than traditional engine designs, the OX2 engine could offer the further advantages of significantly enhanced operation and maintenance costs and a longer useful life. With its expected higher power-to-weight ratio, multi-fuel capacity and anticipated low emissions and fuel efficiency, the OX2 has a practical and much needed application in the commercial and industrial generator markets. Additional future applications may include marine, light-duty farm and construction equipment, light aircraft, and the hybrid electric vehicle market. However, the near term focus remains electrical generator applications. Investor inquiries can be directed to the company at (310) 914-9599. To update the investment community and all interested parties about the progress of the OX2 engine, Advanced Engine Technologies has established a hotline at 310/323-2895. Additional information pertaining to the OX2 engine can be accessed through the company's Web site at http://www.ox2engine.com/. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This release may contain forward-looking statements 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 made 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 technology 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 Securities 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. DATASOURCE: Advanced Engine Technologies Inc. CONTACT: Jake Jundef, , or Soon Nguyen, , both of JMPR, Inc., +1-818-992-4353, for Advanced Engine Technologies Inc. Web site: http://www.ox2engine.com/

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