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Gold/Mining/Energy : Westport Innovations ASE -- Ignore unavailable to you. Want to Upgrade?

To: John Marcinko who wrote (204)	3/17/2000 10:08:00 AM
From: John Marcinko	Respond to of 210

3/17/00 - Purchases Full Title to Technology From UBC WESTPORT INNOVATIONS INC ("WPT-T;WPIVF-L") - Purchases Full Title to Technology From UBC Westport Innovations Inc. announced that it has purchased full title to a patented technology previously licensed by Westport from the University of British Columbia. Under the terms of the agreement, Westport purchased from UBC all rights to the original patents on which Westport has developed its high pressure direct injection (HPDI) technology. In exchange for the technology, Westport has granted to UBC a five-year right to receive common shares of Westport with a value of up to $1.5 million. UBC can exercise its right after Westport has announced a commercialization agreement involving HPDI. The number of common shares issued to UBC will be based on the average of the closing prices for Westport of the shares on The Toronto Stock Exchange for the 20 days prior to the exercise of UBC's right. The technology purchased by Westport was originally invented at UBC by a team led by Dr. Philip Hill, now Westport's Senior Scientific Advisor. The purchase of full title by Westport supercedes a 1994 exclusive license agreement under which Westport committed to pay royalties to UBC on certain gross revenues from products that use the technology. "Westport is pleased with the technology purchase," said David Demers, Westport's President and Chief Executive Officer. "With this transaction we maintain our close relationship with UBC. In addition the transaction makes it easier for Westport to plan for the commercialization of the company's low-emissions fuel systems." Westport HPDI technology uses clean-burning natural gas as the primary fuel for diesel engines. The natural gas is ignited by a separate, prior injection of a small amount of diesel fuel. The technology is intended to retain all of the performance and fuel economy of diesel engines while meeting future U.S. Environmental Protection Agency emissions targets for oxides of nitrogen (NOx) and particulate matter (PM). Westport's fuel systems are also intended to significantly reduce carbon dioxide (CO2) emissions to meet proposed global warming initiatives. Westport's strategy is to develop natural gas technology for diesel engines through key strategic alliances. Westport Innovations is working with Cummins Engine Company, Inc. of Columbus, Indiana to develop natural gas- fuelled diesel engines for heavy-duty trucking and electric power generation. Separately, with Ford Motor Company of Dearborn, Michigan, Westport Innovations is developing the enabling technologies for a natural gas fuelled diesel engine for light-duty vehicles. Note: This news release contains forward-looking statements about Westport's plans for its technology based on the current expectations of management. Westport cautions investors that due to risks and uncertainties, actual events may differ materially from current expectations. TEL: (604) 718-2016 Alan Bayless, Manager, Investor Relations FAX: (604) 718-2001 e-mail abayless@westport.com _____________________________ (c) Corporate Dissemination Services Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106 RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041.

To: John Marcinko who wrote (204)	3/17/2000 5:22:00 PM
From: stockinAmajor	Respond to of 210

Agreed, the pull back in the price is normal for a stock that has had as major a move in valuation as this. The technical picture of the market pricing remains bullish. The volume is steady and the consolidation reasonably well mannered especially given what has been happening in the general markets(particularly techs). The technology that WPT now owns is so badly needed world wide,if they can commercialize it today's stock price will look like the buying opportunity of a lifetime. I too am surprised how quite this board is given what this stock has done and the remaining potential it has. I remain long the stock.