May 24, 2004

Hy-Drive signs marketing deal with IntraLink Associates

TORONTO, ONT-Hy-Drive Technologies has signed an agreement with IntraLink Associates to provide direct marketing and sales support for Hy-Drive's Hydrogen Generating Systems (HGS(tm)). IntraLink is a Canadian engineering technical sales and marketing firm with more than 25 years experience in the direct marketing and sales of engineered products, throughout Canada and the United States. Under the 3-year agreement, IntraLink will be granted exclusive marketing and distribution rights for the HGS in the transportation industry in Canada and the U.S. The company will concentrate on the direct sales and marketing of the HGS to bus and truck fleet customers throughout North America. By contract, IntraLink must sell a minimum of 2,000 HGS units over the next 12 months. Achieving this target will result in an estimated $20 million in revenues for Hy-Drive. Hy-Drive's HGS generates and injects small amounts of hydrogen gas into the combustion chamber of a regular internal combustion engine, creating an enriched air mixture and a faster, more complete burn of the air-fuel mixture. Based on testing trials to date, the HGS has shown significant performance enhancements on a wide variety of internal combustion engines, including substantial reductions of harmful emissions, such as carbon monoxide, particulate matter and nitrous oxides.
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