Hy-Drive Announces Appointment of New Member to the Company's Board of Directors

    TORONTO, Oct. 24 /CNW/ - Hy-Drive Technologies Ltd. (TSX-V: HGS) today
announced that Mr. Travis Bradford has been appointed to the Company's Board
of Directors.
    Mr. Bradford is the Founder and Managing Partner of Atlas Capital
Investments LP, a hedge fund based in Cambridge, Massachusetts that invests in
global companies that deploy energy, water, food and material solutions using
sustainable technologies. Atlas Capital currently owns 2.1 million shares of
Hy-Drive Technologies.
    Mr. Bradford currently serves as Director and President of the Prometheus
Institute for Sustainable Development (http://www.prometheus.org/). Founded in
2003 by Mr. Bradford, the Institute was created to fill a need for reliable
data, quantitative analysis and practical information about the renewable
energy industry. He also continues to act as Editor-in-Chief of PVNews, the
solar energy industry's oldest newsletter and is the author of Solar
Revolution: The Economic Transformation of the Global Energy Industry
published by MIT Press.
    Prior to his role with Atlas Capital and the Prometheus Institute, Mr.
Bradford was a Partner at Steel Partners II, L.P., a New York City based hedge
fund. In the past Mr. Bradford has worked for the Federal Reserve Bank, and
has lectured at top universities including Columbia University, Duke
University, New York University, and Harvard University on finance,
entrepreneurship, and alternative energy economics. Mr. Bradford holds a
Masters in Public Administration from Harvard's Kennedy School of Government
and received his M.B.A. from New York University, Leonard Stern School of

    About Hy-Drive

    Hy-Drive is an energy technology firm that has developed a proprietary,
patented hydrogen generating system. The Hy-Drive system 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 further information, visit www.hy-drive.com.

    Cautionary Note Regarding Forward-Looking Statements

    Certain statements contained in this press release may constitute
forward-looking statements. Such statements reflect Hy-Drive's current views
with respect to future events and are subject to certain risks, uncertainties
and assumptions. Many factors could cause Hy-Drive's actual results,
performance or achievements to be materially different from any future
results, performance or achievements that may be expressed or implied by such
forward-looking statements, including among other things, those which are
discussed under the headings "Risk Factors" and elsewhere in documents that
Hy-Drive files from time to time with securities regulatory authorities.
Should one or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking statements prove incorrect, actual
results may vary materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Hy-Drive does not intend, and
does not assume any obligation, to update these forward-looking statements.

    The TSX Venture Exchange has in no way approved nor disapproved the
    contents of this press release. The TSX Venture Exchange does not accept
    responsibility for the adequacy or accuracy of this release.

    %SEDAR: 00016984E

For further information:

For further information: Corporate Information: Tom Brown, President &
CEO, Tel: (905) 542-3024 x222, tbrown@hy-drive.com

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