SOURCE: Axis Technologies Group, Inc.

September 27, 2007 16:05 ET

Axis Technologies, Inc. to Distribute Products Through Graybar Electric

LINCOLN, NE--(Marketwire - September 27, 2007) - Axis Technologies Group, Inc. (PINKSHEETS: AXTG) is pleased to introduce Graybar Electric Company, Inc., an international Fortune 500 company, as an acclaimed member of the Axis national distribution network. The company received initial purchase orders from Graybar for the Axis Dimming/Daylight Harvesting Ballast (DDH) to be installed at various locations where Green initiatives are being implemented.

"We are pleased to have our products being distributed by an industry giant like Graybar. The fact that this Fortune 500 company is beginning to order our ballasts is very exciting to us, as they have a vast and diverse distribution network throughout North America," said Jim Erickson, President of Axis Technologies, Inc.

About Graybar Electric Company, Inc.

Graybar, a Fortune 500 company, specializes in supply chain management services and is a leading North American distributor of high-quality components, equipment and materials for the electrical and telecommunications industries. With more than $5 billion in revenue (2006), Graybar employs nearly 8,000 men and women at more than 250 distribution centers throughout the U.S., Canada, Mexico, and Puerto Rico. As one of North America's largest employee-owned companies, Graybar has the power and stability of a big company and the integrity and drive of a neighborhood business. The company is ranked #450 on the 2007 Fortune 500 ranking of America's largest companies and #50 on Forbes' 2006 ranking of the 500 Largest Private Companies. Graybar was also listed the Fortune America's Most Admired Companies list for the sixth consecutive year in 2006. Graybar is headquartered in St. Louis, Missouri. More information on the company may be found on

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.

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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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