Zevotek Clears Path for New Financing


NEW YORK, Oct. 7, 2009 (GLOBE NEWSWIRE) -- Zevotek, Inc. (Pink Sheets:ZVTK) (Frankfurt:T5V1), a designer, developer, and worldwide direct marketer and distributor of innovative personal and home care items, announced today that it has terminated its factoring agreement with Star Funding, Inc. and severed the lender's security interest in Zevotek's Ionic Bulb sales program. Zevotek announced that the termination and release was achieved by mutual agreement and did not require payment by either party.

Commenting on the announcement, Zevotek's CEO, Adam Engel, said, "I look forward to announcing a new funding deal, which will have been made possible by terminating the Star Funding agreement. Zevotek is no longer subject to their control over our Ionic Bulb business. The factoring agreement Zevotek had in place was not designed to finance our business of selling Ionic Bulbs using our new TV ad. Zevotek's new financing will fit the mass market sales program we are rolling out."

Zevotek plans to sell Ionic Bulbs using a new 2-minute TV infomercial. The Ionic Bulb combines the performance features of ionic air cleaning technology with those of a 10,000 hour reduced energy use compact fluorescent light bulb (CFL). The new Ionic Bulb infomercial is expected to be ready to for TV and Internet audiences in November 2009. When Zevotek's Ionic Bulb infomercial is broadcast, viewers in homes across the U.S. can see the vivid demonstration of the bulb's ionizing action and immediately contact Zevotek to buy the Ionic Bulb and take advantage of its excellent value and many uses.

About the Company:

Zevotek, Inc. plans to market and sell a range of innovative personal and home care items. Zevotek has a license to sell an energy saving compact fluorescent light bulb named the Ionic Bulb. The Company plans to market the Ionic Bulb through TV infomercials, catalogs, magazines and major U.S. retail and specialty stores and the Internet. Zevotek's Ionic Bulb infomercial airs on www.asseenontv.com and the Company's www.zevo-tek.com website.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this release with respect to the Zevotek, Inc.'s business, financial condition and results of operations, as well as matters of timing and effectiveness of marketing the Ionic Bulb are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond Zevotek, Inc.'s control with respect to market acceptance of their products, whether financing will be available, the plans for Zevotek, Inc. to market and sell products as well as certain other risk factors which are and may be detailed from time to time in Zevotek, Inc.'s filings with the Securities and Exchange Commission.

This press release contains forward-looking statements. The words or phrases 'may,' 'intends,' 'expects,' 'estimate,' 'indicate,' 'plans,' 'anticipates,' 'could,' 'if,' 'will,' 'should' or similar expressions are intended to identify 'forward-looking statements.' Actual results could differ materially from those projected in forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Zevotek, Inc. cautions readers not to place undue reliance on such statements. Unless otherwise required by applicable law, Zevotek, Inc. does not undertake, and Zevotek, Inc. specifically disclaims any obligation to update any forward- looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.



            

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