SOURCE: Axis Technologies, Inc.

October 30, 2006 16:28 ET

Axis Technologies, Inc. Now a Publicly Traded Company (AXTG)

LINCOLN, NE -- (MARKET WIRE) -- October 30, 2006 -- Axis Technologies, Inc., a wholly owned subsidiary of Axis Technologies Group, Inc., announced today that the company is now publicly traded on the OTC exchange under the ticker symbol AXTG.PK (PINKSHEETS: AXTG)

Axis Technologies, Inc. was founded nearly five years ago when a group of forward-thinking individuals decided to develop a dimming/daylight harvesting fluorescent ballast that is regarded by many as the most energy-efficient, cost-effective, reliable, and easy to install fluorescent dimming ballast on the market today.

The company's patented control system is installed in each individual ballast creating a dimming/daylight harvesting system out of each individual fluorescent fixture that requires no external control system. The Axis ballast also reduces the considerable extra labor cost associated with installing and adjusting dimming systems that are used with conventional dimming ballasts.

The Axis ballast provides a high level of control to each individual fixture in two ways: first an attached patented dipswitch allows the fixture's light output to be set in seven increments from 100% output, down to 40% of output (with a corresponding reduction in electrical energy). This becomes a fixed "ceiling" that the fixture will never go above. This feature is important in reducing "over lit" conditions, or adjusting light levels downward over computer monitors or hallways. The other feature of the Axis ballast is the patented integrated photocell that measures outside light coming in windows or skylights. This photocell automatically lowers the fixture output from the dipswitch set point down to as much as a 20% output (80% reduction), again with a corresponding reduction in electrical energy. This dimming is done continuously and is unnoticed by room occupants. When the outside light source is diminished (as on cloudy days or at night) the fixture immediately brightens back to the dipswitch set point.

"The Axis ballast is timely and well-positioned to capitalize on the heightened awareness of the need to reduce energy consumption with the initiatives to build 'green,' mandated lighting controls, and federal, state, and local initiatives and/or rebates available for energy-efficient product," said Jim Erickson (principal).

"ATI has spent considerable time and money in proving that the system operates as advertised, and can provide lists of installations and testimonials on request," Erickson added.

About Axis Technologies Group, Inc.: Axis Technologies Group, Inc. conducts its business through its wholly owned subsidiary Axis Technologies, Inc., a Delaware corporation headquartered in Lincoln, Nebraska. Axis Technologies, Inc. designs, manufactures and markets a proprietary patented energy-saving daylight dimming ballast for the commercial lighting industry. The company's target market is small to large commercial users of fluorescent lighting; examples would include office buildings, wholesale and retail buildings, hospitals, schools, and government buildings. Axis Technologies has obtained the Underwriters Laboratory (UL) seal of approval for the firm to market its products in both the United States and Canada.

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