SOURCE: Axis Technologies Group, Inc.

September 13, 2007 16:01 ET

Axis Technologies and Energy Innovation Group Forecast Axis Ballast Sales of Over $4,000,000 Through 2008

Axis Technologies Signs Agreement With Energy Innovation Group to Market Daylight Harvesting Ballasts in California

LINCOLN, NE--(Marketwire - September 13, 2007) - Axis Technologies Group, Inc. (PINKSHEETS: AXTG), a green technology company that designs, manufactures and markets a proprietary line of energy saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry, announced today that the company has signed an agreement with Energy Innovation Group (EIG) (www.energyinnovation.net), headquartered in Culver City, CA, to develop the retrofit market in California for the Axis Dimming/Daylight Harvesting (DDH) fluorescent ballasts.

"We believe that the Axis DDH ballasts offer a level of potential to be our lead technology in our line of energy-saving products. EIG has already scheduled installations in several municipalities, and major corporations specifically using the Axis ballast. We fully expect to install over $4,000,000 of the Axis ballasts over the next 15 months, and have a target upwards to $28,000,000 nationally over the next 36 months," said Sid Pelston, managing partner of EIG. "Our network of lighting retrofit contractors and electrical engineering firms are expected to supply the Axis ballasts to their vast numbers of existing customers."

EIG is a supplier of innovative and emerging technologies and is contracted by various electric utility companies and energy commissions to bring these technologies to the commercial marketplace. EIG develops energy programs for a multitude of unique client facilities including property management companies, trade associations, major corporations, major building owners and municipalities. These programs and strategies include a complete building analysis to find potential energy efficient and cost-effective savings within a facility through technological advances, HVAC upgrades, control and sensor systems, power management, maintenance savings, window films, and indoor air quality. The installation of innovative technologies, such as the Axis ballasts, capitalizes in both key areas of reducing expenses and conserving energy use.

"We are very pleased to have the expertise and customer base of Energy Innovation Group behind our dimming/daylight harvesting ballast technology," said Jim Erickson, President of Axis Technologies, Inc. "We are preparing to increase production to meet the increasing demand for our ballasts. The growing interest in our patented energy saving technology has dramatically increased in the past few months and we look forward to working with EIG and their many clients," added Erickson.

This week, Business Week included Axis Technologies' ballasts in an article, "10 Green Technologies That Could Change Your Life," accessible at:

http://images.businessweek.com/ss/07/09/0910_greenenergy/index_01.htm?chan=technology_special+report+--+green+tech_green+tech

A demonstration video and TV News segment of the Axis Daylight Harvesting Ballast is accessible at:

http://www.axistechnologyinc.com/success.html

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 Energy Innovation Group

Energy Innovation Group, LLC (EIG) is the only company in the nation with a business model to commercialize proven performing, emerging energy efficiency technologies. To identify these technology opportunities, EIG works with utilities, testing laboratories, universities, and consulting engineers to learn of companies that have proven their performance, but lack the capability to effectively bring their products into the mainstream market. EIG becomes the channel for these products to become industry standards. Once a product is selected for EIG's technology showcase, special rebates are arranged with the utilities. EIG then works with property management companies, trade associations, cities, and energy service companies to communicate information of these technology and special rebate opportunities to businesses throughout the nation.

Through EIG, there are significant opportunities to reduce energy costs with the latest advances of emerging energy efficiency technologies and there are special rebate contracts through the utilities that often pay up to 300% of the standard utility payment.

Paybacks typically range from 12-36 months. Projects can be completed with no cash outlay. EIG coordinates the entire program to free their customers from any major resource commitment.

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.

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 a 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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