March 15, 2004

News Release: Dynetek Industries Ltd. Delivers Hydrogen Fuel Storage System to MAZDA

Dynetek Industries Ltd. ('Dynetek'), a leader in developing, producing and marketing lightweight compressed natural gas (CNG) storage cylinders and compressed hydrogen storage cylinders, announced today it has delivered an on-board hydrogen fuel storage system to MAZDA for use in its RX-8 Hydrogen RE, running test vehicle. Dynetek is providing the fuel storage solution using its certified 350bar (5000psi) hydrogen fuel storage system. The storage system has been certified in Japan to Reijikijyun Betten-9 standard with approval by KHK and in Germany under TUV. The vehicle was on display at the 2003 Tokyo Motor Show and received wide spread attention. As the world's only manufacturer of rotary engines, the RENESIS Hydrogen Rotary Engine is a MAZDA-unique alternative-fuel vehicle. This vehicle presents the flexibility of their rotary engine, while maintaining a traditional driving feel, yet realizing extremely clean emissions through the use of hydrogen. The engine has been developed with a dual-fuel system, allowing it to run on either gasoline or hydrogen by one-touch switching. MAZDA believes flexible automotive choices will help effectively promote the usage of hydrogen fuel and the development of a supporting infrastructure.

'We are honored to be working with MAZDA and their innovative dual-fuel system technology,'said Robb Thompson, Dynetek's President and CEO. 'This introduction of their electronically-controlled hydrogen direct-injection rotary engine demonstrates their commitment to develop and explore all the potential and possibilities of their unique internal combustion engine by balancing the dual needs of both the environment and the driving enthusiast.'

Dynetek Industries Ltd. designs, produces and markets one of the lightest and most advanced fuel storage and refueling systems for compressed natural gas, low emission vehicles and compressed hydrogen, zero-emission fuel cell vehicles. Dynetek is recognized around the world for its solutions-of-choice to the alternate fuel vehicle sector, evidenced by strategic relationships with major manufacturers around the globe. Dynetek is listed on the Toronto Stock Exchange, symbol: DNK.

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For further information: Robb Thompson, President and Chief Executive Officer, (403) 720-0262 or 1-888-396-3835 (toll free in North America),

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