Power Efficiency's Common Stock Begins Trading on Bulletin Board.

Business Editors

ANN ARBOR, Mich.--(BUSINESS WIRE)--Sept. 24, 2002

The common shares of Power Efficiency Corp. have begun trading on the OTC Bulletin Board Service under the symbol PREF.

The move from "Pink Sheet" trading to the Bulletin Board was facilitated by the clearing last week of all the company's filings by the Securities and Exchange Commission, Raymond J. Skiptunis, president and CEO, reported.

"Our achieving full reporting status and a Bulletin Board listing are important steps in our aggressive corporate development program," said Skiptunis. Recent acquisition of $2.5 million in new funding and the appointment of Skiptunis to head a new management team will also accelerate this program, according to a statement by the company's board of directors.

"This Bulletin Board listing will not only help trading and liquidity of our stock," said Skiptunis, "but also positions the company for its next step which will be a move to the NASDAQ Small Cap market or possibly to the American Stock Exchange."

Power Efficiency is the developer and international marketer of patented energy-saving "Performance Controllers," which reduce the electric energy required to run alternating current motors by 15 to 35 percent, Skiptunis explained. Installed at low cost, these electronic devices can be fitted to both new and existing motors, providing such energy savings as long as they are operated.

Although actively marketed less than two years, they are already reducing electric bills for companies and government agencies in more than 3,500 installations here and abroad.

NOTE: Any statements in this release which are not statements of fact may be considered "forward-looking statements" as that term is defined under U.S. federal security laws. Forward-looking statements are only predictions and may differ materially from actual events or results.