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American Electric Auto Electric Vehicle to be at Financial Fest

24 March 2000

American Electric Automobile Co. Inc. Electric Vehicle to be Showcased At Financial Fest

    SAN DIEGO--March 23, 2000--American Electric Automobile Co. Inc. (NQB Non-OTC:AEAM), successful developers and manufacturers of Electric Vehicles, zero emission and super low emission vehicles Thursday announced that the company and its electric vehicles will be featured at the popular San Diego, California Financial Fest on April 1, 2000.
    The two most popular vehicles are the converted Volkswagen Cabriolet(TM) and the Hyundai Accent(TM) 4-door.
    American Electric Automobile Co., in conjunction with its wholly owned subsidiary, California Electric Automobile, recently opened a design center and showroom in downtown San Diego featuring their custom-designed automobiles.
    Each automobile is designed using standard bodies with fully functioning air conditioning, heating and off-the-shelf electric motors, which are used in combination with a custom proprietary computerized electric drive. These well-equipped automobiles are economically priced in the $16,000 to $22,000 range.
    Gary G. DeGano, president of American Electric Automobile Co., commented on the company's heightened exposure by stating, "Financial Fest is a positive forum for spotlighting our highly acclaimed, economically priced, environmentally friendly cars while also presenting the ambitious growth strategies of our company.
    "We want to provide both our current and potential consumers and investors the pleasure of seeing our automobiles and kicking the tires."
    Recently, American Electric Automobile Co. announced the joint venture automobile being produced for introduction into the lucrative Chinese market. The company's EV has been licensed for use on all roads in China. The Chinese government has recognized the need for Electric Vehicles by mandating the purchase of zero emission vehicles under a five-year program which calls for one in every five or 20% of all vehicles produced in China to be an Electric Vehicle.

    Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995: This announcement contains "forward-looking" statements. The words "anticipate," "look forward to," "believe," "will be," "estimate," "projected," "expected to" and other similar expressions as they relate to the company and its management are intended to identify such forward-looking statements. Although the company and its management believe that the statements contained in this announcement are reasonable, it can give no assurances that such statements will prove correct. Factors that could affect the occurrence of events or results discussed herein include those mentioned in the company's submissions to regulatory agencies.