International Fuel Technology Enters Into License Agreement With Ada Resources to Distribute First NOx-Reducing Fuel Without Oxygenates

Business Wire, June 17, 2002

Business Editors & Energy Writers

ST. LOUIS--(BUSINESS WIRE)--June 17, 2002

IFT's Clean Diesel Brings NOx Reduction Solutions to Houston Area

International Fuel Technology, Inc. (OTCBB:IFUE)(IFT), the developer of a series of fuel blends designed to improve fuel economy and reduce harmful emissions, announced today that the Company has signed a license agreement with Ada Resources, Inc., a subsidiary of Adams Resources and Energy, Inc. (AMEX:AE), for the distribution of the complete line of IFT proprietary fuel blends. The license agreement provides Ada Resources with exclusive distribution rights for the Houston, Texas market.

Ada Resources, Inc. supplies branded and unbranded refined petroleum products to the auto, aviation, rail and marine industries in the Texas Gulf Coast and southern Louisiana markets. Lee Beauchamp, President of Ada Resources said, "Ada has been a fuel distributor to the Houston market for 56 years. The addition of IFT fuel blends, specifically IFT Clean Diesel, will bring cost-effective fuels to the city that reduce nitrogen oxide (NOx) emissions without the use of oxygenates."

IFT's Clean Diesel is designed to reduce NOx, a main component of ground-level ozone, by 10 percent. The fuel is expected to qualify for state funding under the Texas Emission Reduction Program (TERP), which reimburses fleet owners for using NOx-reducing fuel in their on and off-road vehicles. Eight counties in the Houston area are under a state mandate to reduce ozone pollution and meet federal clean air standards by 2007. If the standards are not met, the state could stand to lose federal highway funds.

"IFT Clean Diesel is ideally suited for the Houston area because it will effectively address the city's ozone non-attainment status without being an emulsified diesel. Clean Diesel is an extremely cost-effective way to reduce NOx emissions, and most importantly can be implemented immediately because it works within the city's existing fuel delivery infrastructure. Those who currently use conventional diesel will experience no loss of performance when using IFT Clean Diesel," stated Jonathan R. Burst, President and CEO of IFT.

In addition to IFT Clean Diesel, Ada will distribute IFT Performance Diesel, a fuel formulated to boost fuel economy by up to 7 percent and reduce harmful emissions, including NOx, particulate matter (PM) and carbon dioxide (CO2). Distribution of IFT proprietary fuels will be available to other fuel marketers through sub-license agreements with Ada Resources.

Statements contained in this release that are not strictly historical are forward-looking within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to obtain financing adequate to fund its operations, the company's ability to generate revenues, the company's ability to develop a market for its products and other factors more fully described in the Company's literature and its filings with the Securities and Exchange Commission.