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Technology Stocks : Advanced Engine Technologies (AENG) -- Ignore unavailable to you. Want to Upgrade?

To: Gerald L. Kerr who wrote (225)	5/20/1998 3:47:00 PM
From: Joseph Waligore	Read Replies (1) \| Respond to of 3383

Advanced Engine Technologies Enters Joint Venture With Carroll Shelby Enterprises HOLLYWOOD, Calif.--(BUSINESS WIRE)--May 20, 1998--''Emerging Company Report,'' the nationally syndicated television program which profiles emerging-growth companies, has learned Carroll Shelby, member of the automotive Hall of Fame, legendary racing driver and developer of the world-famous Shelby Cobra, Shelby Ford (NYSE:F - news) Mustangs and other high-performance automobiles, has entered into a joint-venture arrangement with Advanced Engine Technologies Inc. (OTC/BB:AENG - news). AENG, a Colorado company, owns the U.S. rights to promote and market a revolutionary new internal combustion engine, known as the OX-2. The current prototype of the OX-2 engine has approximately 30 total parts. It is 12 inches in diameter, 10 inches wide and weighs less than 140 lbs. It has the capacity of 66.25 cubic inches. It operates on a full four-stroke system, however, it uses porting rather than valves. It has no camshaft, no distributor, no oil pump and no water pump. It requires about one cup of oil for lubrication and no part of the engine requires viscosity support. An eight-cylinder engine, the OX-2 has only three moving parts. Each piston fires twice every revolution of the output shaft and at no stage do they come into contact with the bores. Rev for rev, the 66-cubic-inch OX-2 is capable of producing more horsepower and torque than a 350-cubic-inch conventional engine. The purpose of the joint venture is to develop vehicles and engines to demonstrate the advantages of the OX-2 engine over conventional technology. ''If the performance figures are correct, the OX-2 engine is the most significant advancement in combustion engine technology that I have seen in my lifetime,'' said Shelby, ''and it has the potential to revolutionize the world's engine industry. ''We recognize that a tremendous amount has been invested in present engine technology and that an alternate would need to be a vast improvement over what is currently available. We are also aware we need to show advantages over hybrid systems. We are confident this has been achieved with the OX-2 engine.'' At several demonstrations across the country, the OX-2 engine impressed industry representatives with its performance according to instrumentation, producing 170 ft./lbs. of torque at 1,250 RPM using 8.5 lbs. of gasoline per hour. These figures give a break specific of an unbelievable .21. At this stage of the company's development, it is not its intention to approach the automobile industry, as experience has shown it is difficult to introduce significant changes in technology from outside sources. It is believed, however, the OX-2 technology will be accepted by the auto industry when the environmental, emission and cost advantages are proven. The flexibility of the OX-2 engine is adaptable for use in generators, pumps, aircraft, marine and other applications.