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Gold/Mining/Energy : Alternative Fuel Systems ATF:VSE -- Ignore unavailable to you. Want to Upgrade?

To: timester who wrote (4476)	8/9/2000 2:38:11 PM
From: Stew	Read Replies (1) \| Respond to of 4605

By Gosh . . Whaddya know? . . . Subject: Stockwatch: Alternative Fuel Systems Inc - News Release Date: Wed, 9 Aug 2000 11:23:39 -0700 From: newsout@stockwatch.com To: <smurray@videon.wave.ca> Alternative Fuel has plans for new head office Alternative Fuel Systems Inc ATF Shares issued 27,762,865 Aug 8 close $1.56 Wed 9 Aug 2000 News Release Ms. Paula Kinch reports Alternative Fuel Systems plans for a new head office and engineering facility in Calgary. This new site will include a state-of-the-art testing and research facility and allow room for the growing company staff. Under the terms of a 15-year lease, AFS will relocate to the 43,000-square-foot facility in early 2001. In the last year, increasing demand for AFS products around the world has proved too great for the current facilities. This larger location will provide the much needed room and equipment to meet these growing needs while allowing AFS's three locations, one in Burlington, Ont., the others in Calgary, Alta., to be consolidated into one building. This new facility, currently under construction, is located along a main thoroughfare in the northern portion of the city. In other AFS news, the company announced some significant personnel changes. Regarding these key additions to the company, AFS president, John C. Anderson, said: "These appointments are keys steps in our strategy to evolve from a small but promising company to a world class, worldwide technology company. I know these changes will pave the way for many new opportunities for AFS." Laurel Belanger will be joining AFS's financial department as the controller and will report to AFS's chief financial officer. Ms. Belanger has a broad range of financial and operational accounting experience, most recently with Altrade Canada Inc. Although for years AFS has been one of the leaders in environmental technologies, the company has often failed to garner the attention of the worldwide press. To change what Mr. Anderson calls AFS's position as the quiet leader of the clean air industry, Kathy Gieck has been appointed AFS's director of communications. Ms. Gieck comes to AFS with six years experience in public relations, most recently as director of community relations for the Calgary Flames National Hockey League Team and executive director of the Calgary Flames Foundation. In her new role with AFS, Ms. Gieck will develop and execute a comprehensive communications plan aimed at creating broad media and public awareness of AFS as an industry leader in environmental technology. Rick Schmidt has been appointed sales manager at AFS where he will be reporting to AFS's director of sales. Mr. Schmidt has worked for the past 17 years at Cummins Alberta working his way up from apprentice diesel mechanic to his recent position within Cummins's sales division. Nel J. Storey of General Motors of Canada Limited has accepted an advisory position in AFS's technical advisory committee. With 31 years of experience in the automotive industry, Ms. Storey brings extensive sales and marketing expertise and insight to AFS's technical planning group. In other personnel news, Arie van der Lee, executive vice-president, sales, and a founding member of the company has elected to retire from the company. AFS would like to thank Mr. van der Lee for his contribution to the company and wish him well in his retirement. AFS also announces that it has received approval from the board of directors to amend its stock option plan. The amendment provides for the increase in the number of shares available for distribution under the plan to 7.3 million shares. This amendment is subject to shareholder ratification and the approval of the Canadian Venture Exchange Inc. Stock options are an important remuneration component for the employees at AFS, providing the growing staff with the opportunity to take an ownership position in the company. These options have proved to be a significant incentive in hiring and retaining high quality employees. Each staff member at AFS is granted stock options. This ensures that all of the personnel of the company are working toward the common goal of increasing shareholder value. (c) Copyright 2000 Canjex Publishing Ltd. stockwatch.com