ColorMax Technologies Announces the Appointment of New Board Members.

Business Editors

TUSTIN, Calif.--(BUSINESS WIRE)--Jan. 20, 2000

ColorMax(R) Technologies, Inc., (OTC BB:CXTE) Thursday announced that it was pleased to appoint Robert S. Iger, Esq. and Dr. Kenneth Michael Larkin, O.D., F.A.A.O. to its Board of Directors.

Iger holds a J.D. Degree from Western States University and a Masters Degree in Economics and Econometrics from the State University of New York at Buffalo. He is a successful Securities Attorney specializing in corporate law and finance, business development, mergers and acquisitions, and international trade negotiations. Iger has an extensive background in Strategic Planning and Marketing for XEROX Corporation, and serves on several boards for both the for-profit and non-profit sectors, as well as on the board of advisors for the Orange County Museum of Art and the Orange County High School of the Arts, where he is Chairman.

Iger teaches Cross Functional Management Requirements for Technical Entrepreneurs at the Business, Management and Corporate Education Department of UCI's University Extension, and is also an adjunct professor at the University of Phoenix where he teaches Economics and Business Law.

Larkin is a highly successful lecturer, professor, author, and researcher who has appeared on numerous TV and Radio programs. He obtained his O.D. Degree from the Southern California College of Optometry and is Assistant Professor in the Department of Ocular Disease there. A Fellow of the American Academy of Optometry and past member of the Harvard University Technical Consulting Group, Larkin served on the ad hoc health committee on health care reform under the Clinton administration.

In 1979 he had the honor of being named &uot;O.D. of the Year&uot; by the California Optometric Association and &uot;Teacher of the Year&uot; by the Southern California College of Optometry, as well as being named &uot;O.D. of the Year&uot; by the Orange County Optometric Society for 1985 and 1986. Larkin has been published in the Journal of the American Optometric Association, Optometric Weekly, Annals of Ophthalmology, and authored a managed column for the Southern Journal.

ColorMax(R) Technologies has the first and only FDA approved product with the ability to capture a virtually untapped product market in excess of $5 billion in the United States alone. Its Color Vision Enhancement lenses offer a unique and effective option for colorblindness, a condition that affects more than 12 million Americans and 250 million people worldwide.

The ColorMax(R) lenses were featured on more than 69 TV Segments on NBC, CBS, ABC, FOX, and UPN Networks, as well as in newspaper publications including the New York Times, USA Today, the Los Angeles Times, and the Orange County Register. NBC's Today show featured colorblind host Matt Lauer with his new pair of ColorMax(R) Color Vision Enhancement Lenses.

This release contains forward-looking statements with respect to the results of operations and business of ColorMax(R) Technologies Inc., that involves risks and uncertainties. The Company's actual future results could materially differ from those discussed herein. Risks and uncertainties of the Company will be detailed form time to time in the company's periodic reports. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to &uot;safe harbors&uot; provision of the Private Securities Litigation Reform Act of 1995.