Keros Capital Update: Axis Technologies Group, Inc. Gets EIG Approval, Sees Half Million 500,000 Unit California Requirement Annually for Axis' Ballast Product

    LOS ANGELES, May 5 /CNW/ - Axis Technologies Group, Inc. (Pinksheets:
AXTG), Energy Innovation Group (EIG), a leading energy efficiency integrator,
advised today that Axis Technologies Group, Inc.'s. load shedding demand
response ballast recently announced for introduction at this week's Lightfair
International trade show in New York City could become a standard tool for use
by utilities to help control energy use during high energy demand periods.
    EIG Managing Director, Sid Pelston, said, "The marketplace has long
waited for a product with these ballast specifications as indicated by Axis.
The new Axis load shedding ballast will be the first energy savings lighting
product of its type, which can reduce energy generally an average 40% to 50%
use through all daylight hours, but which also allows utilities and energy
users to immediately further reduce power use remotely through the load
shedding control of the Axis ballast when there is an energy alert indicating
supply may become insufficient to meet the immediate requirements for energy.
Utility incentive programs generally provide rebates for reduction in kilowatt
hour usage to encourage an overall reduction in energy use."
    Mr. Pelston continued, "To our knowledge, the Axis ballast has been the
only proven reliable product available with individual photo-sensor control
which automatically reduces power in all areas with daylight entering the
space to maintain light levels and significantly reduce power use.
    "In California alone, we can see an annual market demand of 500,000
ballasts statewide over the next few years as more utilities act upon State
and Federal mandates to pursue energy efficient technologies that maximize the
management of their power grids. We look forward to significantly expanding
the incorporation of Axis's ballasts in our energy audit plans."

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    About Axis Technologies Group, Inc.

    Axis Technologies Group, Inc. (, through its
wholly owned subsidiary, Axis Technologies, Inc., designs, manufactures and
markets a proprietary line of energy-saving and daylight harvesting electronic
dimming ballasts for the commercial lighting industry.

    Stocks to watch today are: M-Phase Technologies (OTCBB: XDSL) up 57% on
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shares, Xinhua China LTD (OTCBB: XHUA) up 67% on 21.4 million shares,
Spongetech (OTCBB: SPNG) up 7% on 82 million shares.
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million shares, Oceanfreight Inc (Nasdaq:   OCNF) up 27% on 23.7 million shares,
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shares, Wells Fargo (NYSE:   WFC) up 24% on 294 million shares, JP Morgan Chase
(NYSE:   JPM) up 10% on 101 million shares.

    Disclosure: All material herein was prepared by Keros Capital Inc.
(Keros) based upon information believed to be reliable. The information
contained herein is not guaranteed by Keros to be accurate, and should not be
considered to be all-inclusive. The companies that are discussed in this
opinion have not approved the statements made in this opinion. This opinion
contains forward-looking statements that involve risks and uncertainties. This
material is for informational purposes only and should not be construed as an
offer or solicitation of an offer to buy or sell securities. Keros is not a
licensed broker, broker dealer, market maker, investment banker, investment
advisor, analyst or underwriter. Please consult a broker before purchasing or
selling any securities viewed on or mentioned
herein. Keros has been compensated forty five thousand shares of AXIS for
promotional services. Keros affiliates, officers, directors and employees may
own shares and may buy and sell additional shares of the company mentioned
herein and may profit in the event those shares rise in value. Keros will not
advise as to when it decides to sell and does not and will not offer any
opinion as to when others should sell; each investor must make that decision
based on his or her judgment of the market.

For further information:

For further information: Jim Mav, (973) 464-1747

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