Turbodyne continues to promote non-existing UN endorsement.

The United Nations Development Programme (“UNDP”) has denied that it endorses Turbodyne Technologies, Inc.’s (NASDAQ Symbol: TRBD) (Price: $7.1562) technology or related financing. The UNDP has also confirmed that it did not authorize any Turbodyne press releases claiming UNDP or UN Flag Technology Program (“UNFTP”) endorsement. Despite these conclusive statements Turbodyne continues to mention the UNDP regularly in its stock promotion programs. In an August 17, 1998 release Turbodyne’s Chairman claimed he spent 10 days traveling with Joseph Ben-Dak of the UNDP. Mr. Joseph Ben-Dak has not been a UNDP official since April 1, 1997. Even after the UNDP’s condemnation, Turbodyne continues to claim it was awarded a UNFTP endorsement and its Internet site contains an audio interview of Mr. Halimi where he claims that the UN is assisting Turbodyne.

At least one other group of penny stock promoters received a UNFTP designation after Mr. Ben-Dak’s April 1, 1997 departure from the UNDP. On February 19, 1998 InvestAmerica, Inc. (NASDAQ/BB Symbol: INVT) announced that in December 1997 its Supramics process received UNFTP designation. In addition, on August 4, 1997 Capella Computers Ltd. announced that it had also received UNFTP designation. The release referred to Joseph D. Ben-Dak as the director of the UNDP’s Global Technology and Business Group.

Short selling involves a risk not associated with the purchase of stock including, but not only limited to, unlimited loss and stock borrowing risks. Additional information is available upon request.