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EXHIBIT 99.1
[TURBODYNE LOGO]
TURBODYNE ANNOUNCES SUSPENSION
OF TRADING ON EASDAQ
Carpinteria, California - August 4, 2000 - Turbodyne Technologies Inc.
(EASDAQ: TRBD) today announced that effective August 2, 2000, Easdaq has
suspended trading of Turbodyne shares pending a further review by Easdaq of the
facts underlying Turbodyne's press release of August 1, 2000. That release
reported on the Company's working capital position and the Company's
investigation into prior management's issuance in 1999 of approximately 8.7
million shares of Common Stock. Turbodyne is in contact with Easdaq regarding
this review and will provide further information concerning the status of
trading on Easdaq as this information becomes available to the Company.
Turbodyne Technologies Inc., a California based high technology company,
specializes in the development of charging technology for internal combustion
engines and the development and manufacturing of high-tech assemblies for
electrically assisted turbochargers and superchargers. Turbodyne Technologies
Inc.'s headquarters is located in Carpinteria, California, and its European
office is located in Frankfurt, Germany. Additional information about the
Company is available on the Internet at http://www.turbodyne.com.
Contacts:
Kenneth Fitzpatrick - Investor Relations at California Headquarters: (800)
566-1130
Markus Kumbrink - Investor Relations at Frankfurt office: +49-69-69-76-73-13
Peter Weichselbraun - Media Contact at California Headquarters: (800) 566-1130
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This release contains forward-looking statements as defined in Section 21E of
the Securities Exchange Act of 1934, including statements about future business
operations, financial performance and market conditions. Such forward-looking
statements involve risks and uncertainties inherent in business forecasts.
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