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Revision History For: IHTL Innovative Holdings&Technologies Telemetry in Sports

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Wednesday June 24, 1:50 pm Eastern Time

Company Press Release

SOURCE: Innovative Holdings & Technologies, Inc.

Indy 500 Winner Team Cheever Selects Innovative Technologies' Subsidiary As Its Official
Data Radio Provider

WINTER PARK, Fla., June 24 /PRNewswire/ -- Innovative Holdings & Technologies, Inc. (OTC Bulletin Board: IHTL - news), today announced that its Biocam Company, Inc. subsidiary will be providing 1998 Indy 500 winner Team Cheever with its state-of-the-art MS 900 data telemetry radios. The first scheduled use is at the June 28, 1998 Indy Racing League event at New Hampshire International Speedway.

''And with the amazing new technologies Biocam is constantly creating,'' Cheever added, ''don't be surprised if TV viewers, as well as my team members, will, in the future, be feeling as if they are right there in the car with me during the race, virtually experiencing every twist, turn and physical reaction.''

Innovative Holdings & Technologies, Inc. identifies, acquires and incubates early stage niche technology companies with outstanding growthpotential.

See Yahoo for the complete news release;http://biz.yahoo.com/prnews/980624/fl_innovat_1.html