American IR to Acquire Dashlite Brand.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--Feb. 2, 2001

American IR Technologies Inc. (OTCBB:ATLI) today announced it has entered into a Letter of Intent with LHI Inc. to acquire the assets of the company, including its "Dashlite" brand of products (www.dashlite.com).

Over the last eight years, Dashlite products have achieved shelf space in major national retailers such as Wal-Mart, Ace Hardware, Pep Boys and national specialty catalogs. As well, they have enjoyed large custom imprint business with North American auto manufacturers and suppliers.

The Letter of Intent calls for expanded due diligence and financial examination for both companies. Final terms are to be negotiated.

President and chief executive officer of American IR, Ron Ryan, stated: "The Dashlite brand is well recognized in its field. Through this acquisition we take advantage of their consistent revenue stream, drop their costing by as much as 50 percent and dramatically improve their profitability.

"The net result to our shareholders is expected to be an exponential, near-term return on a per-share basis. The combined product lines of our two companies allows American IR to drive towards the inevitable merging of the 'Home Health and Safety' with 'Portable Lighting' categories, creating a much larger opportunity for not only our corporate efforts but for the categories at large."

Martin Lee, CEO of LHI Inc., added: "We're pleased to be involved with a young company like American IR. They have demonstrated a clear and efficient ability to identify product opportunities and to capitalize on them, driving from concept to revenue very quickly.

"That they are a public company gives them access to the capital markets in a way that our company could not. We see them as a rapidly expanding company with an experienced initial team. Their sourcing and manufacturing skills already give us a cost advantage that will help us drive our existing product line into even more places."

Ryan continued: "Over more than eight years LHI has achieved a repeat customer base and historical revenues. These qualities add stability to our performance projections. More so, they bring us significant opportunity. We gain executives who bring proven abilities in product design and marketing & sales.

"Our products complement each other's allowing us to expand sales into each other's existing and potential customers. We gain the operational economies of scale that result from combined development and marketing efforts. In a variety of ways, there is an increased potential for American IR in the acquisition of LHI and the Dashlite brand."

About American IR Technologies Inc.

"Technology Putting You First"

American IR Technologies Inc. is in the business of designing and developing proprietary products and technologies. Through its unique Intellectual Property development process, American IR develops technology and consumer products primarily for the "Home, Health & Safety" and "Quality of Life & Leisure" categories.

The full catalog of products is marketed through major national retail chains and catalogs, joint venture and license agreements and private label programs.

Forward-looking statements and comments in this news release are made pursuant to safe harbor provisions of the Securities Exchange Act of 1934. Such statements relating to, among other things, the prospects for the company, including the completion of any acquisition transaction or the achievement of future operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These risks may be further discussed in periodic reports and registration statements to be filed by the company from time to time with the Securities and Exchange Commission in the future.