WaveCrest to Exhibit Latest Technology in Electric Drive at SAE World Congress

              Global Automotive Event Will be Forum to Tout
                     Benefits of WaveCrest Technology

During the world's largest forum of automotive executives and engineers, the Society of Automotive Engineers (SAE) 2004 World Congress in Detroit, Mich., WaveCrest will demonstrate the newest technology in advanced electric propulsion, including their new prototype roadster powered by the company's in-wheel hub electric motors.

  WHAT:     WaveCrest, a leading-edge technology company, will display its
            Adaptive Motor(R) system in a prototype roadster, new advanced
            battery technology as well as its high-performance electric
            bicycle, which is already being used by law enforcement and the
            military.

            WaveCrest will be located at booth #1759.

  WHO:      Rich Schaum, WaveCrest's Vice President & General Manager for
            Vehicle Systems, as well as SAE Vice President of Automotive,
            and other WaveCrest senior management personnel will be on hand
            to discuss WaveCrest technology.

  WHEN:     Monday, March 8 to Thursday, March 11
            9:00 a.m. to 5:00 p.m.

  WHERE:    Cobo Hall, Booth 1759
            One Washington Blvd.
            Detroit, Mich.
            (313) 877-8777

WaveCrest Laboratories is a leading-edge technology company specializing in electric propulsion systems. The company's WaveCrest Adaptive Motor system transforms electrical energy into mechanical motion -- and vice versa -- with exceptional power and efficiency. This adaptive electric propulsion system will launch a new generation of transportation, as well as wide-ranging industrial and commercial applications. WaveCrest Laboratories employs a staff of world-renowned scientists and engineers. Additional information is available on the company's Web site at www.wavecrestlabs.com.

For SAE 2004 World Congress information, please click http://www.sae.org/congress/.

PRNewswire -- March 3