Orbit Holds Annual Shareholder Meeting; Shareholders Approve All Proposals With Overwhelming Percentage of Voting Proxies.

Business/Technology Editors

CARLSBAD, Calif.--(BUSINESS WIRE)--June 27, 2000

Orbit Technologies, Inc. (OTC BB:OBTY) announced today that it completed its annual shareholder meeting on June 15, 2000. Almost 100% of voting shareholders approved all proposals as recommended by the Board of Directors. Shareholders ratified a settlement agreement previously completed in 1998 with two shareholders thereby ending any litigation before the Company. Shareholders also approved independent accountants of Tabb, Conigliaro & McGann, an increase in the authorized shares of the Company, and elected Board of Directors for the coming year. Shareholders also approved a change in the Company name to Technology Visions Group, Inc. This is part of a re-organization plan initiated and implemented in the fall of 1997. This provides an improved structure that would permit the spin off of developing technologies and business entities that can be properly financed and commercialized.

James B. Lahey, Chairman and President, discussed the Company's past history, present situation, and future vision in an Address to Shareholders. The text of that presentation follows:

PRESIDENT'S ADDRESS TO SHAREHOLDERS
ANNUAL SHAREHOLDER MEETING
JUNE 15, 2000

As I was beginning to put together some thoughts for my presentation today, I noted on the top of the yellow pad in capital letters "stay positive and look forward" and that is my plan today. And believe me or as the saying goes today, "TRUST ME", there are many things to be positive about as Orbit moves forward.

During the past four years, I've had an opportunity to talk to many of our shareholders and investors, a number of you sit here in the audience today. For those of you that have been part of the Orbit journey during that time you can well appreciate where we have been, where we are today, and might well say, it's been a "long and bumpy road back baby."

Let me take you back a few years and for those of you that have been following Orbit during those years, I would like to share a story that may be applied to the Orbit history.

I'm not sure how many of you saw the movie "THE CROSSING" but I could not help but draw parallel images with the dilemma that faced George Washington, but instead of the year being 1775, it was Orbit in 1996. General Washington has just experienced a number of very discouraging setbacks: defeats on the battleground, desertion by many of his troops and he had access to very few resources. While Washington is discussing the next move in his campaign, one of his generals was arguing the hopelessness of the situation and suggesting throwing in the towel and giving up. Washington listened, but was not persuaded. His resolve was strong and ultimately he went on with his plan for the crossing to his first victory - the rest is history.

In early 1996, Orbit was faced with many problems - a number of legal issues, insufficient funding and most importantly, no strategy for going forward. Orbit had an opportunity to also throw in the towel, but management and your board also had the resolve to proceed forward with that which was necessary to achieve success. The good news is that we are here today, we are having this shareholders meeting, albeit a little late, but better late than never - and we are marching forward with resolve.

To appreciate where are today, I'll spend just a couple of moments highlighting some of the issues we have put behind us. The Orbit archives will reflect that beginning in 1996, Orbit has successfully:

- Reached settlement agreements or winning results on five legal actions.

- Cancelled in excess of 10 million shares of common stock.

- Reduced annual overhead expenses by over $300,000.

- Cancelled $250,000 of past director and officer claimed liabilities.

- Reached lump sum settlement agreements on certain outstanding payables representing net savings of over $485,000.

And, I might add, you are voting today on the last of the legal issues that has burdened the company during this period.

In early 1996, the Company was challenged to develop a strategy for focusing on the strengths of its technology to generate a revenue stream. Orbit's very limited human resources and available funding dictated that we focus on a single technology that had a high potential for market acceptance, and a strong potential for generating revenue. With this in mind, management decided to pursue the Polymer Encapsulation Technology (PET), which exhibited application properties favorable in the waste cleanup market. Previously, Orbit was involved in various stages of development on several technologies which included the fusion of various metals onto welding caps to prolong cap life and reduce energy costs and second, an improved method of recovering nearly pure titanium from titanium ore. Both of these technologies required significant development funding for product commercialization. Therefore, the polymer-technology, PET as we know it today, was selected as that technology with the highest probability for commercialization.

What is the Polymer Encapsulation Technology, or PET? PET is a liquid polyorganic siloxane resin based foam to which certain proprietary materials have been added for performance enhancement. Why use PET? PET is used because it has unique applications in the containment of radioactive and toxic wastes. The PET formulation combines the thermo-stability, chemical and radiation resistance of silicone materials with the elasticity of organic components to form a barrier ideally suited for stabilization and encapsulation. PET is also non-toxic, radiation resistant, and does not become contaminated when exposed to radiation. BOTTOM LINE - a technology that most nearly meets the needs of the waste encapsulation market.

Let's now take a look at the waste encapsulation market, the market where we see applications for PET. The market size is HUGE! A snapshot of cleanup costs for radioactive, toxic, hazardous wastes are estimated to be greater than $200 billion.

Radioactive, toxic and hazardous wastes generated by past and future nuclear defense and research activities are stored at various sites through out the U.S. Like most industrial and manufacturing operations, the production of nuclear weapons has generated a variety of waste materials. However, there are significant differences when we look at DOE nuclear operations as they have problems such as radiation hazards, structures with radioactive contamination, for example nuclear reactors, and chemical plants that processed nuclear materials. Many of these waste materials are stored at DOE sites located throughout the U.S. Because the DOE has now shifted its mission to environmental restoration, the development of technologies that will help with cleanup and final disposition has become a major focus of the DOE's efforts. This is where we feel PET has an application.

Let me just take a moment to share with you what a waste storage site may look like. In this case, we'll look at the Idaho National Engineering and Environmental Laboratory. This facility, a nuclear research facility, from 1952 to 1991 reprocessed spent nuclear reactor fuel through its Idaho Nuclear Technology and Engineering Center.

The site occupies roughly 890 square miles. There are nearly 375 DOE employees at this site and the managing contractor, a joint venture between Bechtel Babcock & Wilcox employing approximately 6,500 employees. This site is one of nearly 54 Waste Management Sites located throughout the U. S. - some smaller, some larger but all containing waste materials that require processing for final disposal.

Wastes stored at a site may be classified into one or more of the following classifications -

- Low-Level Mixed Waste

- Low-Level Waste

- Transuranic Waste

- High-Level Waste

- Hazardous Waste

For our discussion today, it's not important to understand the definition of each of these wastes, but it is important to understand that there are a significant number of waste sites; each containing a significant quantity of waste that will require processing for final disposal and completed in a safe and economical manner.

Does PET provide a solution for processing all of these wastes? The answer is no. But what Orbit has done, is focus its efforts on niche waste markets where our technology has demonstrated its ability to perform. And what we have also done is identify those waste markets where existing technologies may not presently serve the need and a modified PET product could potentially be successful.

So how is PET used? The application process for PET is relatively simple. It involves the mixing of dry waste and PET in proportions that will meet end product environmental specifications. If I might draw a simplistic analogy here - the process is similar to mixing fruit into Jell-O. The final or resultant mixture is then extruded into a mold to form a monolithic shape suitable for transportation and final disposal. Where radioactive materials exist, special handling is required.

PET has an experience factor that I would like to share with you.

An early formulation of PET was introduced in an evaluation for the Landfill Stabilization Project - a project for treating existing Hazardous Waste

Based on the success of this work, PET was evaluated as a stabilizing media for sodium and nitrate salts, including heavy metals from the Idaho National Engineering and Environmental Laboratory Radioactive Waste Management Complex. This work was completed in 1997 for Lockheed Martin who concluded that PET was "suitable for stabilization of DOE complex salt wastes."

In March 1998, Lockheed Martin awarded Orbit another contract for low-level surrogate calcine waste encapsulation. The report concluded, "PET has potential for a solution leading to final disposal and recommended exploration of further treatment."

Based on the success of the 1998 contract, Orbit was awarded a contract to do additional evaluation work on a pilot scale calcine encapsulation, a project that was most recently, successfully completed. This contract involved not only the use of PET as a final disposal alternative, but also examined PET's potential as a transportation medium. The elastomeric properties and material characteristics provided by PET offer benefits in eliminating potential risks that would occur in the transportation of waste from one site to another.

The final report from Bechtel to the DOE stated "the concept of using Orbit's PET to encapsulate calcine waste for disposal at a permanent high-level waste depository has shown a positive proof of concept." It further stated, "a positive proof of concept was obtained for using Orbit's PET for creating a waste form suitable for transportation to an offsite melter."

Where do we go from here? There is still work to be completed. Included in the Bechtel Report that was submitted to the DOE, Bechtel included several recommendations for furthering the use of PET as an encapsulating material for calcine waste. One of the recommendations stated that a pilot plant should be constructed. A pilot plant construction demonstrates a proof of process - mixing, extruding and molding.

The DOE is currently in the final stages of completing the Environmental Impact Statement or EIS as it is commonly referred to. The EIS provides a detailed environmental analysis for any action, in this case, methods for cleanup that could significantly affect the quality of the human environment. Orbit has been advised that PET will be included in the EIS Report, which should be available at the beginning of the government fiscal year in October.

In the meantime, management continues to focus on a number of other areas. These areas include additional funding for the company; continuing on the work begun with the Korea Electric Power Corporation; identifying potential partners for accelerating our technology development; furthering our complimentary technology development; project managing a potential grout project with the University of Akron and Bechtel; and identifying and weighing the benefits of working with a Washington-based lobbying firm.

The Company has recently completed a due diligence for an investment group in New York. Funding on a best effort basis would be provided in traunches in exchange for an equity position in the Company. Proceeds from this funding would be directed to completing several of the recommendations submitted by Bechtel, and second, for the completion of the laboratory work and the preliminary marketing to bring our newly developing complimentary environmental treatment technologies to market.

As was recently reported, Mr. K. T. Chu, our representative in Korea has been successful in introducing PET to the Korean nuclear industry. These results were achieved after much time and effort in dealing with the Korea Electric Power Co. and Korean Atomic Energy and Research Institute. The Korea Electric Power Corp. is currently seeking an improved final disposal solution for the radioactive wastes from its nuclear power plants to minimize the potential environment risks to the population. Orbit has received, just this week, samples of materials for encapsulation using PET. This work will be completed at the Microscale Physiochemical Laboratory at the University of Akron where most of all our evaluation work is performed.

The Company's strategy for its environmental cleanup business is to provide a broad base of integrated technologies for treating a wide spectrum of radioactive, toxic, and hazardous waste market needs. The first of these technologies to be developed is PET as it will serve as the building block for other technologies.

Out of the research completed on PET, some complimentary systems have emerged that have the potential to be used where cleanup needs may be different and less severe and where a binding-based system may more nearly satisfy the need. For example, there are many non-radioactive wastes requiring the heavy metal components to be contained to prevent leaching. Liquid wastes requiring a PET type of treatment now require a drying process prior to treatment.

Orbit has recently begun a process for identifying potential candidate companies to either accelerate the development of Orbit's technology or to participate with Orbit as a joint venture industry partner.

In closing, I must say that management desires to provide the most valuable of assets to the shareholders, that is, a higher stock price. We are working hard toward that goal. We feel that with the success in those areas I have described, with a contract in hand, our share price will improve and be more representative of the real value of the Company.

I also want to thank you, our shareholders and investors for the support you have provided your management and Board of Directors.

Orbit Technologies, Inc. is an intellectual property holding company that identifies, develops and acquires new and innovative technologies and devises applications for commercialization through licensing or joint ventures.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including, without limitation, increased levels of competition, new products and technological changes, intellectual property rights, industrial acceptance, government regulations and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.