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September 2, 2003
FOR IMMEDIATE RELEASE

Xootr LLC Acquires All of Assets of Nova Cruz Products, Inc.

On August 12 several of the original founders of Nova Cruz Products, Inc. acquired all of the assets of the company from creditors. This investor group formed a new entity Xootr LLC to assume production, marketing, and sales of the Xootr scooter product line.

Nova Cruz had experienced financial difficulties at the end of 2002 due to negative cash flow from its electric vehicle business and the challenging venture capital environment at the time. Its secured creditors assumed control of the company in early 2003 and chose to sell the company's assets.

The management of Xootr LLC is primarily focused on growing and developing the Xootr kick scooter product line, which has developed an extremely passionate customer base since 1999.

Nova Cruz founders Dr. Karl Ulrich and Dr. Nathan Ulrich are key members of the leadership team of the new company and bring with them their enthusiasm and deep knowledge of personal transportation.

A closely affiliated company, Volo Development LLC, is focused on disseminating the pioneering technology embodied in Nova Cruz's eX3 electric scooter and Voloci electric motorbike. Volo's strategy is to engage in joint ventures with transportation companies with strong existing sales and marketing channels.

Xootr scooter manufacturing and distribution operations are now operating normally in the company's facility in Scranton, Pennsylvania.

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