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Amerityre Corporation News

Amerityre Initiates Commercial Production of Solid Polyurethane Elastomer Tires

BOULDER CITY, Nev., May 1 PRNewswire-FirstCall — Amerityre Corporation (Nasdaq: AMTY), a leading developer of polyurethane tire technologies and tire products, today announced that it has initiated commercial production of solid polyurethane elastomer tires. After successful completion of a rigorous development program, Amerityre has been awarded the production business by Oxbo International Corporation to supply 15"x 13" solid polyurethane elastomer gage tires for use in farm implements employed in chopping or baling alfalfa or hay. Oxbo is a major manufacturer of specialized agricultural equipment and currently supplies products worldwide to more than 20 countries.

"We are very pleased with the polyurethane elastomer tires developed for us by Amerityre. We believe Amerityre's tire technology will allow us to achieve greater customer satisfaction through improvements in the durability and performance of our products," commented Gary Stich, President and CEO of Oxbo.

"We have been working with Oxbo for the past year to develop a tire-wheel combination that would be tough enough to replace the steel gage wheels that have previously been used in this application. We're happy that the tire we've developed is more than up to the job, and we're currently working with Oxbo on other tire projects utilizing our solid polyurethane tire technology," added Gary N. Benninger, Amerityre's President and CEO.

"What is significant here is that we have now launched the first of several solid polyurethane elastomer tire products that Amerityre has been developing for the commercial markets. We have recently demonstrated the capability of making solid polyurethane elastomer forklift tires at the rate of a tire per minute, using Amerityre's advanced production technology. We hope to see this product go commercial in the near future," explained Benninger.

Amerityre has begun producing the gage tires in commercial volume for Oxbo. The first year volume for the 50-lb. gage tire is estimated to be 1,200 units or approximately $200,000 in revenue. Other potential commercial applications for the solid polyurethane elastomer tires include forklift and aperture tires used in the construction and material handling industry.

Amerityre is actively engaged in the development of polyurethane tire technologies. Amerityre commercializes its technologies through sale of tires and tire products, license agreements with strategic partners, co-development projects and the sale of equipment and its proprietary chemical formulations. For more information on Amerityre visit its website at http://www.amerityre.com. For more information on Oxbo visit its website at http://www.oxbocorp.com.

This release may contain statements that are forward-looking. Such statements, including those related to the prospects for and/or the benefits of Amerityre's polyurethane elastomer tire business, are made based upon current expectations that are subject to risks and uncertainties. Such risks and uncertainties include the factors discussed in our Annual Report on Form 10-K for the year ended June 30, 2007, as well as Forms 10-Q and other filings with the Securities and Exchange Commission. Amerityre does not undertake to update forward-looking statements in this news release to reflect actual results of and changes in assumptions or changes in other factors affecting such forward-looking information.

Amerityre Contact: Oxbo Contact: David P. Martin Gary Stich dpmartin@amerityre.com accts@oxbocorp.com (702) 293-1930 x121 (585) 548-2665

SOURCE Amerityre Corporation

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