*PRESS RELEASE*

TARPON SPRINGS, Fla., Feb 24, 2004 (BUSINESS WIRE) -- Solomon Technologies, Inc. announced today that it has commenced trading on the OTC Bulletin Board Exchange under the symbol "SOLM".

Dave Tether, CEO of Solomon, stated: "The commencement of trading is a positive corporate development in our efforts in creating greater worldwide exposure for the company, and its revolutionary electric propulsion systems and drive motor known as the Electric Wheel ® . We are pleased to see the favorable initial response from the investment community, which is a clear indication of investors' recognition of Solomon's patented technology and prospects. We look forward to bringing continued success resulting in promising returns for our shareholders."

Solomon has been successfully installing and supporting marine installation of its patented and proprietary electric motor drive systems around the world. Solomon now provides propulsion systems for new boat designers as well as for those replacing existing diesel motors and is responding to customer inquiries for high growth, high volume land-based vehicles and machinery applications.

Solomon Technologies, through its proprietary propulsion systems and patented Electric Wheel ® technology, offers a unique electric motor design with an ability to efficiently regenerate electricity and is leading the way in the recreational boating industry's adoption of this fundamental new technology.

FORWARD-LOOKING STATEMENTS: Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company's filings with the Securities and Exchange Commission.