SOURCE: Axial Vector Energy Corp.

March 07, 2011 06:12 ET

Axial Vector Announces Reverse Stock Split, Name Change to "AVEC Corporation" and New Trading Symbol (AVEC)

DUBAI, UAE--(Marketwire - March 7, 2011) -  Axial Vector Energy Corporation ("AVEC") (PINKSHEETS: AXVC) (PINKSHEETS: AVECD) (FRANKFURT: BAE1) announced today it has changed the name of the company to "AVEC Corporation" and completed at 1-for-150 share reverse stock split and will begin trading today under the symbol (AVECD)

Description of Corporate Action: 1-150 reverse split
Pre-Split TSO: 412,077,249
Post-Split TSO: 2,747,688
Name Change: AVEC Corporation
New symbol AVEC
Daily List Date: 3/04/2011
Market Effective Date: 03/07/2011

At the Effective Date, immediately and without further action by Axial Vector stockholders, every one hundred fifty (150) shares of Axial Vector pre-split common stock, par value $0.001 per share, will automatically be converted into one (1) share of post-split common stock, par value $0.001 per share. The reverse stock split affects all issued and outstanding shares of the Company's common stock immediately prior to the effective date of the reverse stock split. The split-adjusted shares of "AVEC Corporation" common stock will begin trading on March 7th, 2011. The Company's shares will trade under the symbol "AVEC," with a "D" added for 20 trading days to signify that the reverse stock split has occurred. A new CUSIP number has been assigned to the Company's common stock as a result of the reverse split.

The Board of Directors of AVEC Corporation decided to implement the reverse split at this time to enable the company to pursue commercialization of its existing alternative energy products and to acquire new products, which are "revenue ready." The company is reviewing offers for new debt and equity financing and will advise when completed.

About AVEC Corporation
AVEC Corporation (PINKSHEETS: AVECD) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward- looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors and risks mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2007 and any subsequent SEC filings. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.

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