AuGRID and DiModica Introduce Plasma Display Model; Targets Commercial Release for Mid-July.

Business Editors/High-Tech Writers

CLEVELAND--(BUSINESS WIRE)--May 8, 2003

AuGRID Corporation (OTCBB:AGRD) announces the introduction of its forty-two inch plasma display model as part of its representation agreement with DiModica and Associates.

AuGRID's distribution subsidiary's forty-two inch plasma display was showcased by DiModica and Innovative Home Theatre as part of a display package at a Home and Garden show in Orlando, Florida.

"We introduced an exceptional product into the market place and the response was immediate," said JC Gonzalez, Commercial & Residential Contracting Manager for DiModica and Associates. "The reaction to AuGRID's high-end product was phenomenal; it possesses a superior quality that will make a recognizable footprint in the marketplace."

Identification and tooling costs are targeted for completion in forty-five days as the product will become commercially available. AuGRID has a target release date of mid-July in order to take advantage of the holiday season.

AuGRID's distribution subsidiary delivers next generation LCD and plasma displays for end users in consumer and commercial electronic markets.

AuGRID Corporation is a technology-based organization engaged in the distribution and development of electronic and display devices. AuGRID is committed to the production of products that are exclusively designed to change the way people see things.

FORWARD LOOKING STATEMENT: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AuGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AuGRID Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to AuGRID Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AuGRID Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AuGRID Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.