Axial Vector Engine Changes Name to Axial Vector Energy

Corporation to reflect new product offerings and international branding program.

(PORTLAND, Ore.) - Axial Vector Engine Corporation (Pink Sheets: AXVC)(Frankfurt: BAE1) announces that effective today it is changing its name to Axial Vector Energy Corporation to reflect the commencement of its international branding program and more new product offerings.

The Company has secured the website address axialvectorenergy.com/ that is now live and will soon begin implementing changes on the site to effectively communicate its businesses.

Axial Vector will manufacture, license, and support its engines, generators, motors, and various subcomponents. Each product line will have full service and spare parts support. Production lines are opening in Detroit and Dubai. Several firms around the globe are currently negotiating manufacturing and marketing licenses for not just engines and generators, but a number of AVEC subcomponents as well.

Mr. Ahmed Khalifa, Chairman and CEO, stated, "Last year, we announced a 200 unit production run of our multi-fuel engines in the U.K. The success of that production run allowed us to proceed with adding generator components or sets to the engine resulting in an ultra-efficient lower cost generator.

Recently, we announced investment potentially in the hundreds of millions of U.S. dollars to mass produce engines and generators."

Mr. Khalifa continued, "Today, we're announcing that we're in negotiations with a number of firms to license and manufacture not just engines and generators, but a number of AVEC subcomponents.

These subcomponents include the control components that facilitate the use of multiple fuels and the generator components, which can either be used with our engine or with other manufacturers' systems. Given the versatility in our technology, we will open up small motor production lines at some point in the future as well and provide full parts and service support for all product offerings.

"Since the emphasis is not just engines but generators, control devices and electric motors for small appliances, we thought it best to substitute 'energy' for 'engine' in our name now as we begin the branding process. Hence, we're changing our name from Axial Vector Engine Corporation to Axial Vector Energy Corporation."

By making a number of subcomponents available now, AVEC will be addressing the retrofit of existing generator installed base markets, accelerating acceptance and adoption of all of the product lines. All of these systems are patented or patent pending and sufficient precaution is being taken to preclude reverse engineering and patent infringement.

Mr. Khalifa added, "Our Axial Flux generator technology is 'disruptive' and it's significantly more efficient than existing iron core generators. Many of our potential customers, however, have considerable investment in competitor generators and would readily retrofit those generators now in order to access our far greater performance.

To help lower their cost and increase their profits in their existing systems, we're making our generator subcomponents available separately. The 'Axial Flux Generator Kit' is easy to install and will provide multiple voltage outputs for AC/DC from existing single power generators.

"Axial Vector notes that our branding program is in full swing. Our advertising and public relations partners are preparing a full blown campaign, which will be launched shortly."

Mr. Khalifa concluded, "We're excited. These technologies really make a difference and we're not seeing resistance in the market place. As production figures become clearer, we will update our guidance going forward. We also look forward to providing much more detail on our webcast this week that will be available shortly on thegreenbaron.com/.

Axial Vector(TM) Engine Corporation is a publicly traded company (OTC Pink Sheets: AXVC.PK) that owns, develops and licenses proprietary intellectual property regarding unique internal combustion engine, generator and electric motor technologies. AVEC is applying these technologies to develop an exciting, new, smaller and lighter internal combustion engine that produces significantly greater horsepower and three times more torque on less fuel than conventional engines of similar size. It also owns the worlds first "coreless" power generator and ultra efficient electric motors.

This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors.

Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.