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

To: Jim Bishop who wrote (4525)	10/18/2000 5:46:45 PM
From: Buckey	Read Replies (1) \| Respond to of 4605

Alternative Fuel completes first shipment IDEM Alternative Fuel Systems Inc ATF Shares issued 27,762,865 Oct 17 close $1.81 Wed 18 Oct 2000 News Release Mr. John Anderson reports Alternative Fuel Systems (AFS) has shipped the initial batch of Sparrow IM Fuel Management Systems to DaimlerChrysler licensee, IDEM. The shipment left AFS' loading docks on schedule and within budget. This first shipment will result in $800,000 in sales revenue for the Sparrow Systems and associated services. Part of a multiyear agreement with IDEM, this is the first of several AFS Sparrow IM System shipments scheduled as part of a $6.5-million purchase and service agreement between the two companies. The Sparrow IM Systems will be factory installed on Mercedes diesel engines manufactured by IDEM. The AFS Sparrow IM System includes a spark ignition system that was specially developed by AFS for this project in addition to customized Sparrow software and hardware. The Sparrow IM will enable the new Mercedes diesel engines to operate using 100 per cent natural gas to reduce emissions and take advantage of Iran's substantial domestic natural gas supplies. Early on road and laboratory test results from the initial Sparrow IM Systems installations in Tehran have been excellent and AFS has received great customer feedback. AFS also reiterated a key point from its Oct. 11, 2000, press release seen in Stockwatch, regarding the development of a dual fuel management system to operate the Cummins ISC diesel engine using natural gas. AFS was commissioned by a customer to undertake this dual fuel engineering project. AFS did not, in any way, imply that there was a commercial relationship between AFS and Cummins Inc.