Hy-Drive marketing initiatives

Hy-Drive Technologies Ltd. (HGS-V)

MISSISSAUGA, ON, March 24 /CNW/ - In conjunction with Hy-Drive's official commercial launch tomorrow at the Mid-America Trucking Show in Louisville Kentucky, BKV, Hy-Drive's full-service marketing agency, has today released the initial tranche of a targeted direct mail customer solicitation program. "This marketing initiative is the first in a series of strategically-focused direct marketing campaigns with phone follow-up being targeted to Fleet customers who specifically use Caterpillar engines," said Frank Weyforth BKV's Chairman. "The lead generation program is designed to develop early sales traction for Hy-Drive's HGS and is being distributed to a total of 1500 targeted transport companies."

BKV is a Kansas City and Atlanta based full-service agency that specializes in Distributor and Dealer Networks plus Direct Response campaigns. Weyforth added, "BKV has been successful with marketing and direct mail campaigns in the truck market with such companies as Caterpillar, International, Freightliner, Peterbilt and Kenworth as just some of its past and current clients."

BKV also initiated a "pull type" strategy to attract prospective customers to the Hy-Drive display booth at the Louisville Truck Show and additionally has arranged several media interviews for Hy-Drive in an attempt to garner higher market profile for HGS technology. "With a renewed degree of confidence in the reliability of the product plus third-party product validation tests, we are eager and ready to commercially launch the Hy-Drive product," commented newly appointed Chief Operating Officer, Fred Florence.

"The newly-enhanced HGS product and the comprehensive marketing approach is starting to get some traction," commented Florence, "even before the show has started, we have signed two new fleets to test HGS units on their trucks."

About Hy-Drive

Hy-Drive is a technology firm that has developed a proprietary, patented hydrogen generating system. Hy-Drive's Hydrogen Generating System ("HGS(TM)") generates and injects hydrogen gas into a regular internal combustion engine, enhancing the combustion process by allowing fuel to burn more efficiently and completely. For more information, please visit www.hy-drive.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information concerning Hy-Drive's marketing and technological development efforts. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of Hy-Drive and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information include risks associated with the marketing, development and commercialization of Hy-Drive existing and prospective product lines, numerous risks associated with best efforts financing activities, including agreement on the size and terms of any offering, the ability to raise sufficient funds as well as receipt of all required regulatory and other approvals as well as those risk factors discussed in Hy-Drive's Management's Discussion and Analysis for the period ended September 30, 2009 at www.sedar.com. Although Hy-Drive has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Hy-Drive undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: Hugo Sorensen, President & CEO, Hy-Drive Technologies Ltd., Tel: [phone], [email protected]; Fred Florence, CA, COO & CFO, Hy-Drive Technologies Ltd., Tel: [phone], [email protected]