SOURCE: Axis Technologies Group, Inc.

August 27, 2007 15:46 ET

/ CORRECTION - Axis Technologies Group, Inc.

LINCOLN, NE--(Marketwire - August 27, 2007) - In the news release, "Axis Technologies Green Products Featured on Omaha ABC Affiliate KETV Channel 7 at 5PM Tonight," issued earlier today by Axis Technologies (PINKSHEETS: AXTG), we are advised by the company that the headline should read "Axis Technologies Green Products Featured on Omaha ABC Affiliate KETV Channel 7" rather than "Axis Technologies Green Products Featured on Omaha ABC Affiliate KETV Channel 7 at 5PM Tonight," as originally issued. Also, please be advised that the text of the first and second paragraphs have been updated accordingly. Complete corrected text follows.

Axis Technologies Green Products Featured on Omaha ABC Affiliate KETV Channel 7

LINCOLN, NE --(August 27, 2007) - Axis Technologies Group, Inc. (PINKSHEETS: AXTG) is pleased to announce that a feature about the recent installation of its Green technology products in the National Park Services Building aired on Omaha's ABC affiliate KETV Channel 7 news Friday, August 24, 2007.

"We feel this will be the first of many feature stories on the Axis ballast and the tremendous savings it can provide for lighting in the commercial sector!" said Jim Erickson, President of Axis. "I am confident that this continued coverage will enable us to reach our goal of making the Axis ballast the standard rather than the Green alternative," added Erickson.

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About Axis Technologies Group, Inc.

Axis Technologies Group, Inc. conducts its business through a wholly owned subsidiary, Axis Technologies, Inc., a Delaware corporation headquartered in Lincoln, Nebraska. Axis Technologies, Inc. designs, manufactures and markets a proprietary line of energy-saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry. The company's target market is small to large commercial users of fluorescent lighting including office buildings, wholesale and retail buildings, hospitals, schools, and government buildings. In 2002, Underwriters Laboratory (UL) approved Axis products for sale in both the United States and Canada. The Axis Dimming/Daylight Harvesting (DDH) ballast is priced competitively and is the only daylight harvesting ballast system that can be marketed as a replacement for a standard ballast.

About the Axis DDH Ballast

A "ballast" is an electronic component that regulates voltage in fluorescent lighting. Axis Technologies Group, Inc. has developed an innovative new ballast with the aim of expanding daylight harvesting into mainstream fluorescent lighting applications. The patented Axis Dimming/Daylight Harvesting Ballast is a new technology that transforms the ballast, a once standard lighting industry staple, into a dynamic energy-saving system that can reduce lighting energy costs by up to 70%. The Axis DDH Ballast utilizes an individual photo sensor to automatically adjust the amount of electrical current flowing to the light fixture, and then dims or increases lighting in conjunction with the amount of available sunlight that may be harvested from available windows and sunlight. The Axis DDH Ballast avoids "over-lit" conditions that increase energy costs by keeping lighting "tuned" to the desired level in a designated area.

Safe Harbor

Statements about the Company's future expectations and all other statements in this press release, other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.

The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.

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