SOURCE: Axis Technologies Group, Inc.

October 29, 2007 07:15 ET

Axis Technologies Receives Initial Purchase Order From Electra-Save, Inc.

Relationship Expands Energy Efficient Product Distribution to America's 70 Billion Square Feet of Commercial Floor Space

LINCOLN, NE--(Marketwire - October 29, 2007) - Axis Technologies Group, Inc. (PINKSHEETS: AXTG), a green technology company, announced today that Electra-Save, Inc. (www.electrasave.com) will expand into an energy efficient product line with the Axis Dimming/Daylight Harvesting (DDH) fluorescent ballasts.

Jim Kistler, Founder of Electra-Save, said, "Electra-Save has historically taken great pride in working with owners and contractors to improve the energy efficiency of their buildings. Lighting in commercial and industrial buildings accounts for up to 50 percent of America's $75 billion lighting bill. So addressing the need for energy efficient lighting is how we can best expand our business to help others."

The Energy Efficient Lighting Association (EELA) recently noted that 90 percent of the estimated 4.8 million commercial buildings in the United States are over 10 years old, but most energy efficient lighting products have been developed within the last 10 years. The EELA maintains that upgrading with quality energy efficient lighting products can save businesses about 50 cents per square foot with an average payback of only 2 1/2 years, resulting in a 40 percent return on investment. Significantly, the upgrading cost can usually be paid from the energy dollars saved.

"Axis Technologies and Electra-Save, Inc. feel that we can overcome barriers and challenges encountered on 'green' building projects with our excellent customer service. By introducing the Axis DDH ballasts through respected businesses like Electra-Save, we can bring the marketplace up to speed with energy efficient products they are looking for," said Jim Erickson, President of Axis Technologies, Inc.

About Electra-Save, Inc.

Electra-Save, Inc. (www.electrasave.com), Bloomsburg, PA, is an authorized distributor and re-seller that has been servicing the residential, commercial and industrial community for 26 years. Electra-Save, Inc. is expanding its electrical and pneumatic distribution to a new level by offering competitive pricing, along with new alliances with major electrical manufacturing companies, rep agencies and master distributors.

Jim Kistler, Jr. and Ed Long have joined the Electra-Save, Inc. ranks, and offer their experience in system design, installation and proper insulation requirements to create a building climate that is comfortable and affordable. Building owners and contractors rely on Jim's knowledge to provide them with the training and on-site hand holding to make their project successful.

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About the Axis Technologies Ballast

Axis Technologies Group, Inc. has developed 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.

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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