Orbit Technologies Announces Feasibility Study With Korean Electric Power Corp; First Test Phase Implemented.

Business/Technology Editors

CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 2, 2000

Orbit Technologies, Inc. (OTC BB: OBTY) announced today that it has entered into an agreement with the Nuclear Environment Technology Institute (NETEC) of the Korean Electric Power Corporation (KEPCO) to test and submit for review three samples of waste materials, which have been delivered to Orbit and require final disposal. KEPCO is seeking an improved final disposal solution for the radioactive waste from its nuclear power plants to minimize, or eliminate, potential environmental risks to the population.

Orbit will treat the sample wastes utilizing its proprietary Polymer Encapsulation Technology (PET). This process will include a determination of a specific PET formulation for these specific wastes. Upon completion of the treatment of these wastes, Orbit will submit the samples to NETEC for review to determine the viability of utilizing Orbit's technology as a method of final disposal.

Mr. Myung Jae Song, Ph.D., from the Nuclear Environmental Technology Institute (NETEC) of KEPCO said, "Orbit's technology appears well suited for the encapsulation of certain power plant radioactive wastes. We will examine Orbit's PET for the encapsulation of bottom and fly ash."

James B. Lahey, President of Orbit Technologies, commented, "The delivery of NETEC's waste samples to Orbit comes as a result of our product development team's introduction of our proprietary and patent-pending technology to KEPCO's executive management, engineers and scientists last January. Based upon preliminary investigation of our Polymer Encapsulation Technology (PET), and the results of a January 2000 report published by Bechtel BWXT Idaho and the Idaho National Engineering and Environmental Laboratory to the U.S. Department of Energy, by NETEC substantiating the effectiveness of our technology, we are pleased that NETEC selected Orbit to treat its waste samples. We look forward to reporting the results of this study and are confident that our technology will meet the high standards of NETEC."

KEPCO has accumulated world-class nuclear technologies through the construction, operation, and maintenance of diversified nuclear reactors since April 1978 and places safety and economics as top priorities.

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 for the Company, new products and technological changes, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. The application of new and revolutionary technologies is frequently subject to industrial acceptance and governmental regulations, and therefore there is no guarantee products will attain market recognition.