Puradyn Receives Initial Orders for 176 Systems: Financial News

Puradyn Receives Initial Orders for 176 Systems
Wednesday October 1, 2008 12:33 pm ET

BOYNTON BEACH, FL--(MARKET WIRE)--Oct 1, 2008 -- Puradyn Filter Technologies Incorporated (OTC BB:PFTI.OB - News) announced today it has received initial orders for 176 systems from a major Heavy-Duty truck leasing and rental company. A retrofit program began in mid-September and is projected to outfit over 400 trucks before the end of 2009. This will turn into an ongoing program committed to outfitting new trucks as they are added to the fleet.

The company provides financing and a "rent to own" program for new owner operators starting in the trucking industry. In addition, it provides rental trucks for many small businesses with limited cash flow, but needing to expand their operations to meet demand.

Kevin G. Kroger, President and Chief Operating Officer, said, "The trucking industry has been slow to grasp these new concepts and, with the exception of a few progressive fleets, is a market we have not aggressively pursued in the past. The industry as a whole did not view bypass filtration as a necessity until escalating engine oil costs captured their attention. Trucking fleets are now being forced to look at innovative solutions such as bypass filtration to offset continuing high costs."

Wayne Clifton, Director of Sales for Puradyn, added, "This order represents a commitment to discover new ways to help owner operators and companies cope with the ever increasing cost of truck and fleet operations. This company is being pro-active in utilizing methods to help significantly reduce the impact of skyrocketing engine lubricating oil costs. Once all 400+ units are installed on existing equipment, we estimate we'll be shipping anywhere from 1,600 to 2,000 replacement filters each year."

Clifton continued, "This program began with a commitment to reduce operating costs, oil usage, and the waste oil generated from traditional maintenance methods. This new way of thinking will help owner operators and fleets cope with the challenges of today's costs of operations. The old way of thinking and operating is a thing of the past if you want to stay in business."

Kroger concluded: "The safe extension of the oil's life and therefore the vehicle's service interval, translates into a significant reduction in the owning and operating costs of a truck. It not only reduces the amount of oil required for the equipment's operation, it also reduces the amount of waste oil that needs to be properly disposed. The puraDYN® system provides far-reaching, indirect benefits."

About Puradyn Filter Technologies Incorporated

Puradyn (OTC BB:PFTI.OB - News) designs, manufactures and markets the puraDYN® Oil Filtration System, the most effective bypass oil filtration product on the market today. It continuously cleans lubricating oil and maintains oil viscosity to safely and significantly extend oil change intervals and engine life. Effective for internal combustion engines, transmissions and hydraulic applications, the Company's patented and proprietary system is a cost-effective and energy-conscious solution targeting an annual $15 billion potential industry. PuraDYN® equipment was selected as the manufacturer used by the US Department of Energy in a three-year evaluation to research and analyze the performance, benefits and cost analysis of bypass oil filtration technology.

STATEMENTS IN THIS PRESS RELEASE WHICH ARE NOT HISTORICAL DATA ARE FORWARD-LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES OR OTHER FACTORS NOT UNDER THE COMPANY'S CONTROL, INCLUDING BUT NOT LIMITED TO THE POSSIBLE INABILITY TO RAISE CAPITAL FUNDS, LACK OF PROTECTION FROM INTELLECTUAL PROPERTY, VULNERABILITY BECAUSE OF MANUFACTURING A LIMITED NUMBER OF PRODUCTS, DEPENDENCE ON DISTRIBUTORS, ORDERS PREVIOUSLY STATED IN THIS PRESS RELEASE MAY NOT MATERIALIZE, AND THE POSSIBILITY THAT THE PRODUCTS DO NOT MEET CUSTOMERS' NEEDS, WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE OR OTHER EXPECTATIONS IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT LIMITED TO, THOSE DETAILED IN THE COMPANY'S PERIODIC FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.