SOURCE: Axis Technologies Group, Inc.

November 08, 2007 09:39 ET

Axis Technologies and Coronet, Inc. Join Efficiency Plans; Coronet Promotes Incentive Payments for Axis Energy-Efficiency Upgrades

15 Million New Buildings Anticipated Before 2015

LINCOLN, NE--(Marketwire - November 8, 2007) - Axis Technologies Group, Inc. (PINKSHEETS: AXTG), a green technology company, and Coronet, Inc. (www.coronetnj.com) announced today that the two companies will work together to dramatically expand energy efficiency and increase product awareness with the Axis Dimming/Daylight Harvesting (DDH) fluorescent ballasts.

Coronet, Inc. is offering cash savings through prescriptive lighting which is a per-unit basis rebate for common energy saving technologies, such as the Axis DDH ballast. For example, the T-5 and T-8 High Bay Fixtures (New Fixtures meeting requirement 8.2 on application) would qualify for a $75 per fixture incentive payment. Find more information at the New Jersey Smart Start Building web site www.njsmartstartbuildings.com

"Coronet is confident that the addition of the Axis ballast to our product offering will not only enhance our reputation as an energy-saving company, but will also offer our customers an elegant, economical method to become more energy-efficient," stated Russell Osur, President of Coronet.

The US Department of Energy estimates that lighting makes up 20-30% of total energy consumption for the average commercial building. Retrofitting to T-8 high efficiency fixtures with the Axis Dimming and Daylight Harvesting electronic ballasts and installing lighting control systems are wise investments resulting in reduced energy and demand costs and often enhancing the quality of lighting for better customer experiences and improved employee productivity.

Jim Erickson, President of Axis Technologies, Inc., said, "Axis Technologies feels strongly that improving energy efficiency for existing and future buildings is the quickest and most cost effective method to reducing greenhouse gas emissions, and promote significant savings for our economy and consumers. One American chemical company implemented an energy efficiency program in 1990 that cut its energy bills by $3 billion, and reduced pollution by 72 percent. Now is the time for companies to be proactive in their stated corporate goals of 'going green' and making the decisions to start being proactive."

About Coronet, Inc.

Coronet, Inc (www.coronetnj.com) located in Paterson, N.J., specializes in assembly of fluorescent and slim line fixtures and has over 50 years experience serving the lighting industry. Coronet's energy saving lighting fixtures can save clients up to 50% on their energy bills. The incremental cost for installing these fixtures yields a quick return on investment through the n'eduction of energy consumption. All Coronet fixtures are union wired and carry Underwriters Laboratory (UL) approval. Interested parties can contact the customer service department at 973-345-7660 to assist in identifying and implementing a lighting plan.

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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.

To be included in the corporate e-mail database for press releases and industry updates, please send an e-mail to ir@axistechnologyinc.com

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.

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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