SOURCE: Axis Technologies Group, Inc.

October 19, 2007 06:00 ET

Axis Technologies Announces Collaboration With Crescent/Stonco on New Energy-Efficient Lighting Fixture

Crescent/Stonco Utilizes Axis Ballast for Expansion in $40 Billion Lighting Marketplace

LINCOLN, NE--(Marketwire - October 19, 2007) - Axis Technologies Group, Inc. (PINKSHEETS: AXTG) announced today that Crescent/Stonco, a division of the Genlyte Group, Inc. will introduce their own daylight harvesting fixtures that will be equipped with Axis Technologies, Inc.'s Dimming/Daylight Harvesting (DDH) ballast. These fixtures will position Crescent/Stonco with green technology for the linear fluorescent interior lighting market place.

Axis Technologies, Inc. enables businesses to easily embrace the economic benefits of environmental responsibility with the company's DDH ballast. Quick installation, no commissioning, and individually integrated automatic controls incorporating ambient light sensors makes the Axis DDH Ballast unique in the lighting marketplace. As noted in a recent article from the Environmental Energy Technologies Division, the electronic ballast today has captured a nearly 25% market share, with annual U.S. sales of about 24 million units and has already saved $400 million in consumer energy bills. Net energy savings from the use of electronic ballasts savings will grow to $13 billion by the year 2015. Significantly, the Axis ballast is up to 40% more energy efficient than standard electronic ballasts.

Phil Henry, VP of Marketing stated, "I have personally been an advocate for some time of daylight harvesting as an energy-saving measure, and am pleased to incorporate the Axis ballasts into the Crescent/Stonco line of fluorescent fixtures as an economical and extremely energy-efficient option for our customers."

"Axis is honored and excited to work with Crescent/Stonco to expand their market. Americans spend 90% of their time indoors and lighting energy use is growing rapidly, along with the resulting emissions. By incorporating the Axis DDH Ballasts' green design to lighting, indoor air quality can be significantly improved. This benefits everyone, and now is the time to start making a difference for the future," said Jim Erickson, President of Axis Technologies, Inc.

About Crescent/Stonco, a division of the Genlyte Group, Inc. www.stoncolighting.com

The Genlyte Supply Division combines two leaders of the lighting industry, Crescent Lighting and Stonco Lighting, in one location for the best selection of HID and fluorescent lighting products. They provide lighting solutions for professionals in commercial, industrial and institutional markets with luminaires that are the hallmark of the industry.

Installation-friendly features were incorporated into many of the Crescent products. In 1986 the GP troffer was redesigned and included the first troffer with hemmed edges. Crescent re-engineered the GP2 troffer again in 2002 with the most contractor friendly features in the industry.

About the Axis Technologies Ballast

Axis Technologies Group, Inc. has developed an innovative new ballast, an electronic component that regulates voltage in fluorescent lighting that focuses on 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.

About Axis Technologies Group, Inc.

Axis Technologies Group, Inc. (www.axistechnologyinc.com) 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 standard ballast.

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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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