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Axial Vector Engine Corporation News

Initial Orders for Axial Vector GENSET Multi-Fuel Power Systems Total 80 Megawatts Representing $96 million in Revenue Each Year; Options are Signed for Additional 150 Megawatts

DUBAI, United Arab Emirates, March 19 PRNewswire-FirstCall — Axial Vector Engine Corporation ("AVEC") (Pink Sheets: AXVC) (Frankfurt: BAE1) is proud to announce it has already received its first signed lease agreements for its new multi-fuel GENSET power generation systems. These four year lease agreements with annual escalator clauses will in turn provide true multi-fuel power production capabilities to the end user for the first time. The GENSET's ability to run on clean fuels and obtain carbon credits is viewed as an innovative development and is produced significant interest from attendees of last week's WETEX conference.

Annual revenue per megawatt has been calculated to be US$1.2 million using a $.15 per kilowatt-hour price resulting in a 200% profit margin at current market prices. Based on firm orders for 80 megawatts at this time, Axial Vector is expecting to see $96 million per year in annual revenue once delivery of these units is made. Diesel fired emergency power in Africa has averaged $0.28 per kilowatt-hour.

Further revenue is generated by selling the carbon credits resulting from use of clean fuels by these GENSETS. The current price of carbon credits is at US$30 per carbon credit; we believe that this is the lowest price and will rise significantly in the near future.

The extremely positive response to AVEC GENSETS has resulted in the decision by management to move ahead with a leasing program for AVEC products. The logic behind this course of action comes from that it protects our technology at all times, increases revenues substantially for the corporation and its shareholders, and ensures us a steady flow of income that can be used in part to further research and development of more AVEC products.

Orders were received from the following countries: Indonesia, Malaysia, Democratic Republic of Congo, Cambodia, Tanzania and Sierra Leone. In addition to our leasing model, the biggest advantage of AVEC GENSETS over the competition is the ability to deploy in areas with already available palm oil as opposed to having to transport, often with great logistical difficulty and expense, diesel or other fossil fuels. At this time, we do not see any competitors to the multi-fuel GENSETS provided by Axial Vector.

Mr. Ahmed Khalifa, Chairman of AVEC stated, "Today is a major milestone for Axial Vector Engine Corporation. We have transformed from a research and development company to production facility overnight, and will be working hard to deliver these orders on time. In particular, the ability of our GENSETS to run on fuel like palm oil is an advantage that our clients have tremendous interest."

A press release to discuss new manufacturing plans and a new webcast interview with EICA Senior Managing Director Arash Masom by TheGreenBaron.com is expected next week.

About Axial Vector(TM) Engine Corporation:

Axial Vector(TM) Engine Corporation is a publicly traded company (Pink Sheets: AXVC.PK) that owns, develops and licenses proprietary intellectual property regarding unique internal combustion engine technologies. AVEC is applying these technologies to develop an exciting, new, smaller and lighter internal combustion engine that produces significantly greater horsepower and three times more torque on less fuel than conventional engines of similar size.

Forward-Looking Statements

This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.

CONTACT: Axial Vector Engine Corporation 503-471-1348 avec@emiratescapital.net One World Trade Center 121 SW Salmon Street, Suite 1100 Portland, Oregon USA www.axialvectorengine.com

SOURCE Axial Vector Engine Corporation

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