TORONTO, Nov. 1 /PRNewswire-FirstCall/ - Hy-Drive Technologies Ltd.
(TSX-V: HGS) is pleased to announce that its agent, Sparta Capital Ltd., has
been invited to introduce Hy-Drive's commercial HGS product to the Australian
Truckers Association and Australian Road Transport Suppliers Association
conference in Melbourne, Australia, November 14-16, 2004.
    Sparta has been asked to address the conference to introduce the Hy-Drive
HGS system and resulting benefits to members of the two associations. The
conference will host more than 400 delegates representing truck fleet
operators from across Australia.
    "The results that have been achieved with our commercial product in
North America have stimulated interest in our system not only in Australia
but in countries around the world," said Hy-Drive President Tom Brown. "Fleet
operators are reporting fuel savings ranging from a low of 9% to in excess
of 30%. That equates to fuel economy gains of up to 10 litres per hour of
engine operation. With crude oil prices reaching highs over $55 US per barrel,
the market introduction of the Hy-Drive, Hydrogen Generating System is proving
to be the right product at the right time. Since the emissions reductions and
fuel savings are being achieved through the application of our hydrogen
technology onto today's internal combustion engines, the Hy-Drive HGS System
may be that needed 'Bridge to the Future in the Hydrogen Economy'."

    About Hy-Drive
    Hy-Drive is an energy technology firm that has developed a patented
Hydrogen Generating System (HGS). The HGS generates, on demand, and injects
small amounts of hydrogen gas into the combustion chamber of a regular
internal combustion engine, creating an enriched air mixture and a more
complete and faster burn of the air-fuel mixture. The result is reduced
emissions and improved fuel efficiency and torque. The company prides itself
on being able to "Stretch Fuels Farther."

    Forward-Looking Statements
    Certain information set forth in this news release may contain forward-
looking statements. All statements other than historical fact contained herein
are forward-looking statements, including, without limitation, statements
regarding the business of Hy-Drive. Readers are cautioned that the assumptions
used in the preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements. Actual results,
performance or achievement could differ materially from those expressed in, or
implied by, these forward-looking statements and, accordingly, no assurance
can be given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what benefits
will be derived therefrom. Hy-Drive disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this release.

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