SOURCE: Axis Technologies, Inc.

November 13, 2006 16:01 ET

Harrah's Casinos to Install Axis Ballast Systems

LINCOLN, NE -- (MARKET WIRE) -- November 13, 2006 -- Axis Technologies Group, Inc. (PINKSHEETS: AXTG) announced today that it will install the Axis Dimming/Daylight Harvesting (DDH) ballasts in two Harrah's Casinos parking garages in New Jersey. Additional installations are expected to follow at various Harrah's locations.

"We are thrilled to have established this relationship with Harrah's and feel the installation of Axis products in their facilities is a significant milestone for our company," said Kip Hirschbach, CEO of Axis. "With revenues of over $7.1 billion in 2005 and 39 locations we feel that Harrah's is an account that will provide Axis with enormous growth potential in the near term," added Hirschbach.

A ballast is an electronic component that regulates voltage in fluorescent light fixtures. Axis incorporates a patented technology which transforms this once standard lighting industry staple into a dynamic energy saving system. The Axis DDH ballast can reduce lighting energy costs by up to 70%. The Axis DDH ballast incorporates a patented dipswitch that allows fixed level dimming in 10% increments from 100% of output to 40% output, with a corresponding reduction in electrical energy. This means the fixture can be "tuned" to the light level desired, or to reduce "over-lit" conditions.

For further information on Axis Technologies, Inc., visit www.axistechnologyinc.com.

About Harrah's Entertainment, Inc.:

Harrah's Entertainment, Inc. is the world's largest provider of branded casino entertainment through operating subsidiaries. Since its beginning in Reno, Nevada 68 years ago, Harrah's has grown through development of new properties, expansions and acquisitions. Harrah's Entertainment is focused on building loyalty and value with its customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership.

About Axis Technologies Group, Inc.:

Axis Technologies Group, Inc. conducts its business through this wholly owned subsidiary Axis Technology, Inc., a Delaware corporation headquartered in Lincoln, Nebraska. Axis Technology, 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 DDH ballast is priced competitively and is the only daylight harvesting ballast system that can be marketed as a replacement for a standard ballast.

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.

Contact Information

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