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The MOU encompasses a close relationship between AVEC and the RTA ensuring the government of Dubai will have "best of class" clean technology for improving the air and the ability to have Dubai continue its world leadership of vision and innovation. All of AVEC's clean technologies are applicable to the RTA, which includes Public buses, Taxis, Water Taxis, and Railway transport. This new MOU will give AVEC the ability to deploy its technology into the public transport arena ensuring high volume penetration in a relatively short period of time into the commercial market. Furthermore use of AVEC technologies in a public transport sector certifies that AVEC products are indeed reliable and durable. AVEC will aim to provide high quality infrastructure products to one of the world's fastest growing innovating populations and one of the most technologically advanced public transportation systems in the world today. AVEC will provide a smaller version of its proven multi fuel "workhorse engine" and combine with its ultra efficient AXIAL FLUX generators to modify all forms of transport that are deployable on a large scale, using any fuel including non fossil fuels such as "palm oil" and create almost no carbon dioxide and other dangerous contaminates to our atmosphere. Sanjai Chhaunker, President and CEO of AVEC, stated, "We are honored to receive this invitation to enter this MOU with RTA for deploying our state-of-the-art environmental technologies. Our ultra efficient and ultra clean technologies represents a continuation of the vision and innovation of Dubai, its rulers and business leaders and can provide a range of improvements including reduced electricity consumption, 40 % fuel savings, hybrid taxis, and other applications all environmentally sound with little or no carbon footprint." More details on deployment will be made available soon. About Axial Vector Energy Corporation Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world. About Roads and Transport Authority Since Dubai is one of the fastest growing cities in today's world, making the provision of high quality infrastructure facilities absolutely imperative, and since providing an advanced transport network for the people of Dubai has been high on the government's agenda, which is evident from its initiatives to enhance the public transport facilities and improve roads across the emirate to make travel safer and smoother, the Roads and Transport Authority (RTA) was formed by the decree number 17 for the year 2005. RTA is responsible for planning and providing the requirements of transport, roads & traffic in the Emirate of Dubai, and between Dubai and other Emirates of the UAE, neighboring countries in order to provide an effective & an integrated transport system capable of achieving Dubai's vision & serving the vital interests of the Emirate. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors and risks mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2007 and any subsequent SEC filings. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law. For further information, please contact: Samuel Higgins Chairman Axial Vector Energy Corporation Telephone: +9714 887 5351 Facsimile: +9714 881 7835 www.axialvectorenergy.com Jebel Ali Free Zone LOB21- F07 Dubai, United Arab Emirates www.axialvectorenergy.com CONTACT: Axial Vector Energy Corporation 971 4 887 5351 inquiry@axialvectorenergy.com SOURCE: Axial Vector Engine Corp. http://www.axialvectorenergy.com http://www.axialvectorenergy.com mailto:inquiry@axialvectorenergy.com For full details for AXVC click here.
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