SOURCE: US Energy Initiatives Corporation

January 08, 2007 09:50 ET

US Energy Initiatives 2006 Revenues Exceed Combined Prior Seven Years

Board of Directors Proposes Name Change to Hybrid Fuel Systems

TAMPA, FL -- (MARKET WIRE) -- January 8, 2007 -- US Energy Initiatives Corporation ("US Energy" or the "Company") (OTCBB: USEI), an ISO-9001 certified manufacturer of a patent dual-fuel system today reported estimated revenues for the year ended 2006 are $2,541,000. The Company's revenues for the combined period 1999 through 2005 were $2,200,663.

The following table reflects the Company's revenues for the period 1999 - 2006

              1999         2000         2001         2002
Revenue       $560,124     $288,874     $205,570     $123,702

              2003         2004         2005         2006
Revenue       $231,269     $138,714     $652,400     $2,541,000
"In our opinion, two key measures of our success are the acceptance of our technology by industry leaders and growth in revenues," said USEI CEO Mark Clancy. "During 2006, we announced an agreement with the world's largest automotive OEM as well as a $54,000,000 contract with a five-year implementation program. As demonstrated in the chart above, our revenues for 2006 exceed the past seven years combined. Between the years 1999 through 2005, our audited financial statements reflect combined revenue of $2,200,663. We are estimating our 2006 revenues will be $2,541,000 which means we will post $340,337 more in 2006 revenues than the past seven years combined. While we still face challenges ahead in migrating the Company from development to an operating stage, our technology is now clearly accepted by industry leaders and our revenue trends show a strong upward curve. We are also announcing today our intention to adopt our corporate name Hybrid Fuel Systems. We have continued using the moniker Hybrid Fuel Systems in our overseas markets and after much discussion with our clients both domestic and foreign, we believe adopting a single identifier brings a clear focus to our business mission. During the next two to three weeks, we intend to layout our current state of operations and objectives for 2007 in a series of updates," concluded Mr. Clancy.

About US Energy Initiatives Corporation (OTCBB: USEI)

US Energy, formed in 1996, commercializes a patent dual-fuel diesel to natural gas conversion technology through the automotive aftermarket and through certain original equipment manufacturers. The Company's facilities include a state-of-the-art systems development and testing lab in PeachTree City, Georgia and an ISO-9001 certified manufacturing facility in Tampa, Florida.

Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future US Energy Initiatives actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance.

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