Clean Diesel Technologies Signs License With Global Companies LLC for Bulk Treatment of Diesel Fuel With Platinum Plus Fuel Additive.

Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--Sept. 20, 2001

First Shipment of Treated Fuel Expected Within 60 Days

Clean Diesel Technologies Inc. (EBB:CDTI) (CDT) today announced that it has licensed Global Companies LLC of Waltham, Mass. as the exclusive terminal blender of its Platinum Plus(R) diesel fuel combustion catalyst in New England.

Global is a major marketer of diesel and gasoline in New England and is a division of Repsol YPF, S.A. Under the agreement, Global will treat diesel fuel at its terminals with Platinum Plus for delivery to select fuel marketers and fleet customers. Global is already a large marketer of premium diesel fuel in New England and the addition of Platinum Plus creates a new super performance premium diesel fuel providing improved fuel economy and emissions reduction to end users.

"This agreement represents our first license for bulk fuel treatment with Platinum Plus," said Clean Diesel Technologies Chief Operating Officer James M. Valentine, "and we are looking to Global to serve as a template for other terminal fuel distributors in North America."

The addition of Platinum Plus to fuel supplies not only improves fuel economy, but also reduces diesel emissions and improves the performance of diesel emission control devices.

"It's good for the end user and good for the environment," said Duane McLevedge, premium fuel manager of Global Companies LLC. "We expect to start shipment of treated fuel in the next 60 days once injection equipment is installed," he added.

According to CDT, the patented fuel additive introduces small amounts of platinum/cerium-based catalysts into the engine where they catalyze fuel combustion. Platinum and cerium are the same catalysts used in automobile catalytic converters, diesel oxidation catalysts and catalyzed soot filters. Platinum Plus moves this chemistry to the engine where it can improve fuel economy as well as reduce emissions.

Platinum Plus was developed by CDT and registered with the U.S. EPA after thousands of hours of engine and emissions tests which documented no harmful by-products or secondary emissions resulting from the use of Platinum Plus treated fuel. The trace amount of platinum emitted is the same as that lost from current platinum-based automobile catalytic converters.

Commercial fleet tests on more than 400 trucks have demonstrated 3-10 percent fuel economy improvement; averaging 7 percent. Regional testing between CDT and Global on delivery vehicles for Anheuser Busch out of Medford, Mass. yielded more than 10 percent in improved fuel economy.

Platinum Plus alone can reduce diesel particulate matter (PM) by 10-25 percent and up to 95 percent when used with diesel particulate filters. Platinum Plus helps filters regenerate at low temperatures thus preventing plugging with soot. It allows the use of lower cost uncatalyzed or lightly catalyzed filters that cost thousands less than heavily catalyzed systems.

In Europe, CDT is marketing Platinum Plus for use with filters in conjunction with Lubrizol and is working to have the Platinum Plus filter system approved by the U.S. EPA and California Air Resources Board (CARB) for retrofit credit. Under its risk reduction plan, California is looking to retrofit more than 1 million diesel engines and the EPA has announced a voluntary retrofit plan to encourage clean up of existing diesels. Platinum Plus provides the lowest cost option for cost effective diesel emission control.

About Global Companies LLC

Global Companies LLC is a diversified petroleum and energy marketing organization serving the fuel needs of a broad range of commercial and industrial interests throughout the United States and overseas.

Customers range in size and scope of activity from local independent heating oil and gasoline distributors to major power and public utilities. Global Companies LLC has a proven history of dedicated service to its customers under all market conditions. New business activities together with established strength in petroleum markets form the core of a multi-fuel energy company whose growth continues a tradition of excellence and a nurturing of customer relationships.

About Clean Diesel Technologies Inc.

Clean Diesel Technologies is a specialty chemical company with patented products that reduce emissions from diesel engines while simultaneously improving fuel economy and power. Products include Platinum Plus(R) fuel catalysts and the ARIS(TM) 2000 urea injection systems for selective catalytic reduction of NOx.

Platinum Plus is a registered trademark of Clean Diesel Technologies Inc.

Certain statements in this news release constitute "forward-looking statement" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statement involve known or unknown risks, including those detailed in the company's filings with the Securities and Exchange Commission, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.