SOURCE: Coates International, Ltd.

May 20, 2008 07:00 ET

Coates International, Ltd. Plans to Attempt Land Speed Record With the CSRV Internal Combustion Piston Engine at the Bonneville Dry Lake Speed Trials

WALL TOWNSHIP, NJ--(Marketwire - May 20, 2008) - Coates International, Ltd. (Coates) (OTCBB: COTE) -- Coates has been contacted by literally thousands of people and companies in the racing and motor sport world, expressing interest to purchase CSRV Engines of all descriptions for performance racing, in many different categories.

The Company's Management has decided that this niche market is extremely lucrative and a good fit for the CSRV Engine. We plan to prove the merits of the CSRV capabilities by attempting a land speed record.

This is a costly project that is not included in our company budget; however, this project must be funded by independent sponsors and may cost between $5 - 10 million USD.

The Company will be interviewing potential sponsors. There are many Rules and Regulations presented by The Southern California Timing Association for the salt flats speed trials; we believe that we will be able to meet them all. Getting sponsors should not pose a problem, as this will be the first time ever that an Internal Combustion Piston Engine (WITHOUT POPPET VALVES), springs, rockers, pushrods, camshafts, including pressurized engine oil to the heads, are all eliminated, and are replaced with only two moving parts in the CSRV Valve System (THIS WOULD BE A FIRST EVER IN THE WORLD) and we should make the Guinness Book of Records, just for the attempt.

SECTION 5 CAR CLASSES

The car classes are divided into six general categories: Special Construction, Vintage, Classic, Modified, Production and Diesel Truck. The general rules for each category apply to all classes in that category.

5.A SPECIAL CONSTRUCTION CATEGORY

This category is the pinnacle of the straightaway racer's art. It contains two groups, the unlimited Streamliners and open wheeled Lakesters, running both blown and unblown, gas or fuel engines. These are all-out straightaway vehicles with non-stock engine blocks allowed. Innovation is unlimited. Modified production bodies are forbidden. Four-wheel drive is allowed.

It is strongly recommended that all new vehicles be submitted for a pre-event inspection by appointment with the Technical Committee. If not practical because of distance, photographs and drawings may be submitted to the Technical Committee Chairman.

5.A.1 STREAMLINER - /BFS,/FS,/BGS,/GS,/DS

This class is for the all-out land speed record car. Cars in this class shall have at least four wheels, but they need not be arranged in a rectangular configuration. The design of the body is restricted only to the extent that at least two (2) wheels shall be covered. Turbochargers, superchargers and any choice of fuel are allowed.

About Coates International, Ltd.: Coates has recently completed development of its patented spherical rotary valve CSRV Industrial Internal Combustion Engine developed over a period of more than 6 years and other CSRV applications over 10 years. The underlying CSRV technology was invented by George J. Coates and his son Gregory. The CSRV system is adaptable to combustion engines of many types. This technology is currently adapted to a number of practical applications including industrial generators powered by engines incorporating the CSRV technology and designed to run on flare-off gas from oil wells, landfill gas and raw natural gas. The company is actively engaged in planning for production and rollout of these engines.

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include market conditions, regulatory approvals, and other risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC may be viewed and printed on the website maintained by the SEC at http://www.sec.gov.

Contact Information