Update on Nu Age Electric, Inc.

Energy Editors/Business Editors

SUGARLAND, Texas--(BUSINESS WIRE)--Jan. 6, 2003

In addition to the first press release concerning the proposed merger between SMI Products, Inc. (OTCBB:SMIP) and Nu Age Electric, Inc., SMI releases the following information about the Nu Age Electric company business:

Nu Age Electric Inc. (hereafter referred to as (Nu Age), is a private Nevada Corporation formed to acquire the North American 'exclusive rights' to license and operate NuPow'r LLC Power Service Stations (dealerships) in the USA, Canada and Mexico. NuPow'r LLC is a separate private Nevada corporation owned 100% by the renowned electrical physicist engineer, Chaz Haba of Van Nuys, California. He is the patent engineer who designed, developed and patented his new electrical technology including lithium-ion battery storage systems, super quick charging systems, electrical micro processor control panels, new electrical motors with little friction, virtually no heat and exceptional use of electrical power, and new non friction gears.

Essentially the use of this Power System in our electrical vehicles cuts the weight of the battery packs in our vehicles up to 75%, doubles or triples the range and speed of our electrical vehicles compared to any on the market today or any that may consider competing with our products, and cuts the recharge time by up to 75%. These three features are extremely critical now and for the future of commercially viable and acceptable electric powered vehicles.

Under certain special arrangements, Nu Age will also receive the exclusive rights for the manufacture, assembly and distribution of all NuPow'r LLC vehicles and products worldwide. Revenues from the proposed North American distributorship licenses and International Licenses and residual royalty income from the sale of all Nu Age vehicles and/or other electrical products sold worldwide will be significant to the company.

Included in this information are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are indicated by words such as 'expect', 'should', 'anticipate', and similar words indicating uncertainty in facts or figures. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurances that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of various factors, including the general economy, consumer demand and spending patterns, sales levels, distribution and competition trends and other market factors.