SOURCE: Coates International, Ltd.

December 30, 2015 07:00 ET

Mr. Jack Perkowski, Corporate Director of Coates International, Ltd., Returned From China and Attended a Meeting at the Coates Headquarters on December 29, 2015, and Presented a New Business - Licensing Transaction to the Company

WALL TOWNSHIP, NJ--(Marketwired - Dec 30, 2015) - Coates International, Ltd. (OTC PINK: COTE) (the "Company") is pleased to announce that Mr. Jack Perkowski, Corporate Director, returned from China and attended a meeting at the Company's headquarters on Tuesday, December 29, 2015. He presented a new licensing agreement covering CSRV retrofitting of engines by the Company. Two engines for different applications are being delivered to the Company from China for retrofitting with the Coates CSRV technology. Mr. Perkowski will be overseeing the entire transaction in China. Millions of these engines are manufactured in China and used in Asia as well as other parts of the world.

Company President and CEO, Mr. George J. Coates, comments: "Mr. Perkowski is a world-renowned businessman and author of a number of published books, including 'Managing the Dragon'. He was Chairman and CEO of ASIMCO Technologies, one of China's largest automobile component manufacturers with twelve thousand employees working in seventeen plants in eight provinces in China.

"This transaction has been consummated by a verbal agreement of the parties. Two engines are being shipped to Coates headquarters and definitive agreements are being drawn up. This transaction is expected to be finalized in writing, shortly. Mr. Perkowski will return to China next Thursday, January 7, 2016."

"We currently have several other opportunities in progress. The Company has agreed to arrange for the first 100 gen sets to be built in China. They will be delivered to the Coates headquarters for finishing and shipped out to our end-user customers. This will represent a significant business opportunity for the Company. We will be able to generate sales, cash flow and profits once we start shipping the units."

There can be no assurance that the Company will be successful in any of its endeavors.

Safe Harbor Statement:

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. 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.

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