RONKONKOMA, N.Y., March 29, 2004 (PRIMEZONE) -- Perma-Tune Electronics, Inc., a wholly owned subsidiary of Trans Max Technologies, Inc. (OTCBB:TMXT), today announced the signing of a Letter of Intent with an international marine service company to distribute the entire product line from Perma-Tune Electronics. The Letter of Intent will be converted to an order when the configurations and product mixes are finalized. This is anticipated to begin within thirty days, depending on the final product mix and is valued, initially, between $750,000 and $1,000,000. The products included in the Letter of Intent are:
PLASMA DRIVE IGNITION SYSTEM: The Plasma Drive Ignition system is a new kind of ignition that can either be used by Original Equipment Manufacturers (OEM) or retrofitted to most non-diesel gas engines. Tests show that significant increases in fuel mileage are immediately recognized along with increasing horsepower and reducing harmful emissions. This product is currently in production.
PLASMA DRIVE FUEL MANAGEMENT SYSTEM: The Plasma/Fuel Management System is an advanced engine management computer system which will be able to provide a comprehensive and real time management software system for up to 12 cylinders. The entire fuel management process can be individually monitored for each cylinder and changed as required in order to provide maximum fuel efficiency and horsepower for the engine.
Also of significant importance is the Company's:
VESSEL SMART WIRING SYSTEM: The Vessel Smart Wiring system will combine state-of-the-art technologies and wireless technologies to create a complete fuel management system to replace the bulky wiring harnesses currently used today in the trucking and boating industries. Currently, these industries use heavy cables and wiring that run from the controls of the boat or truck to the engines and other parts of the vessel. By using wireless technologies to implement our wiring assemblies we will save on space, weight and reduce maintenance requirements significantly over what is considered the industry standard today.
To round out its dazzling display of products and services, the Company plans to unveil its:
FLAT PANEL DISPLAY: Perma-Tune Electronics is currently designing a revolutionary new touch-screen, flat-panel pilot instrumentation display for the marine industry. The panel will be fully visible in all light conditions, including direct sunlight. A wide variety of engine performance parameters can be simultaneously monitored by the pilot, while concurrently displaying global positioning, sonar and radar data. This one central display simplifies the pilot's job and un-clutters the dashboard. Bulky, failure-prone wiring harness bundles can be eliminated with this product, since a single RS-232 computer cable connects the engine management system to the display. Additional devices can be connected with a single RS-232 computer cable.
Said Lonnie Lenarduzzi, President and Chief Scientist for Plasmatronics, a division of Perma-Tune Electronics, Inc., "To understand what we've done with the Plasma Drive Ignition, you must throw out everything you knew about spark ignition. This is a completely new way of achieving incredibly efficient combustion. Using never-before exploited principles of physics, the PDI produces a cleaner burn than ever before possible, converting nearly all available fuel, whatever it may be, to torque. This process results in a thrilling, measurable increase in performance, dramatically better fuel economy and as a result, reduced emissions." Trans Max Technologies, Inc. and its wholly-owned subsidiary Perma-Tune Electronics, Inc. through its Plasmatronics division is a developmental Company engaged in the automotive and marine electronics industry and has several cutting edge products that were recently introduced at the Miami International Boat Show. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "will," "anticipated," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Trans Max Technologies Inc. takes no obligation to update or correct forward-looking statements and also takes no obligation to update or correct information prepared by third parties which is not paid for by the Company.