Bullet to Acquire Wireless Video Compression Technology.

Business Editors and Technology Writers

WEST CHESTER, Pa.--(BUSINESS WIRE)--Feb. 11, 2002

Bullet Environmental Technologies, Inc. (OTCBB:BLLE), today announced new details describing the business of its intended acquisition of ComCam International, Inc., a leading developer of advanced compact video systems that utilize built in digital compression technology to facilitate rapid video signal transmission through conventional transmission networks and applicable to a diverse array of security and consumer related applications.

The incorporation of full-motion video for mobile observation applications is a next step in the evolution of the high-tech industry. Full-motion video is on the rise. Conventional communications and office productivity applications are rapidly evolving to include entertainment, security and other market sectors. The advent of digital cameras in combination with powerful personal computers and networks has made full motion video possible. However, digital video requires a staggering amount of storage space. Even when using available compression technology, digital video creates serious performance problems with corporate transmission networks and is prohibitive for slower networks such as telephone, wireless, radio or satellite.

ComCam has solved these problems by embedding sophisticated video compression technology into its proprietary computer architecture. The core computing technology compresses the broadband video signal, reducing the video file size by 300%. Current generation wireless networks, radio spectrum frequencies or landlines, then transmit the compressed signal. The video is decompressed and displayed on any type of screen or display device, including personal computers, personal display devices or cell phone screens.

The SmartCam system offers certain technical advantages over the technology currently available. Digital signals are compressed in the camera, not in the personal computer, server or other device, permitting a more efficient use of network distribution. The SmartCam is a low-cost, high performance system, more cost effective than any other similar device on the market. SmartCam's can be deployed for either fixed or mobile usage, using wired or wireless signal distribution. The core technology is compliant with global wireless standards and can be deployed in over 90 countries including the United States, Europe and Japan. ComCam's software enables easy data transcoding to any data format, or localization to meet individual country-language requirements, or the ability to run specialized applications such as facial recognition or motion tracking.

ComCam is introducing the SmartCam system on a worldwide basis and believes it is well positioned to dominate a growing market for full motion video surveillance. J.P. Freeman, an industry research firm, estimates that by the year 2004, $2.4 billion dollars will be spent on fixed network cameras in the United States alone. ComCam believes its SmartCam system will be successful competing in the fixed network camera market, but places its projections of rapid revenue growth on the emerging market for mobile surveillance systems. Mobile surveillance cameras are in their infancy, but are expected to exceed the demand for their fixed network counterparts, as the transition to wireless technology is made possible with the SmartCam system and other evolving technologies.

ComCam's business model relies on a multi-stream revenue base including the sale of SmartCam systems, licensing of the core technology to industry leaders for integration with their products and fees from back-end support services realized through international sales by qualified third party distributors. ComCam has already realized revenues, entered into committed partnerships and has a growing number of international distributors eager to utilize SmartCam systems.

International distributors in partnership with ComCam are building, integrating or selling several different applications of the core technology, focusing on both security and consumer driven applications. Currently, wireless SmartCam systems are used for air cargo security by a European air carrier; airport security and highway traffic monitoring in Italy and Hong Kong; truck cargo security in Spain and South Africa; taxi cab security in Korea and Australia with a similar program approved for New York City; and by the US Department of Defense in a classified military application.

ComCam continues to explore, with prospective partners and distributors, additional applications for the SmartCam system. Compelling possibilities under consideration include; on-board airline SmartCam's for real time video security monitoring; wearable miniaturized SmartCam systems for law enforcement and military personnel to enable the direction of real events from centralized command centers; and the integration of SmartCam video technology with biometric facial recognition software systems.

Applications outside of the security industry include interactive video cam capabilities for wireless telephony, wide-angle lens video for retail kiosks and wireless LAN video. ComCam is working with a partner and distributor in Taiwan to develop a wireless video conferencing system.

Bullet believes the SmartCam system is the best video system on the market today. Management is in the process of completing a formal agreement to acquire ComCam. Once formalized, Bullet's expansion agenda includes plans to sharply increase the manufacture and global distribution of the SmartCam system, and aggressive licensing of ComCam's core technology to industry giants for integration into their own products.

Bullet will continue to seek partners to expand the possibilities for ComCam's technological breakthrough and expects to compete at the forefront of wireless video compression technology well into the future.

A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results that Bullet may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Further, statements in this release should be evaluated in light of important factors that could affect the business and financial results included in our Annual Report on Form 10-KSB for the fiscal year ended February 28, 2001, including (without limitation) under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations," and our quarterly report on Form 10-QSB for the three-month period ended November 30, 2001, both of which are on file with the Securities and Exchange Commission.