KleenAir Receives $2.1 million Investment From London Trust

IRVINE, Calif.--March 5, 2004--KleenAir Systems Inc. (OTCBB:KAIR), announces that it has concluded a transaction with Jubilee Investment Trust plc, a UK company listed on the London Stock Exchange. This involves an exchange of 910,569 Jubilee shares valued at $2.1 million for 10,026,666 Section 144 restricted common shares in the capital of KleenAir at $0.21 per share, the bid price on the day the transaction closed.

"This show of confidence by the Jubilee Investment Trust plc strengthens KleenAir's balance sheet and will provide some of the working capital resources required this year to meet the expense of EPA and CARB Retrofit Verification, necessary for the commercialization of KleenAir's technology," said Lionel Simons, President.

This investment by Jubilee is intended as a long-term hold of this stock in anticipation of appreciation as KleenAir products receive Environmental Protection Agency (EPA) and California Air Resource Board (CARB) Retrofit Verification in the coming months.

These EPA and CARB approvals will enable the Company to launch its NOxMaster(R) NOx Reduction System (SCR) combined with its Oxidizing Particulate Trap (OPT) throughout the US. It will also qualify to earn Emission Trading Credits and SIP grants in many EPA designated NOx Attainment Zones. The Company believes that its Selective Catalytic Reduction technology (SCR) combined with its Diesel Particulate Filter technology (DPF) will be the first approved system that achieves significant reduction of both particulate matter (PM) and Oxides of Nitrogen (NOx) in automotive exhaust.

PM and NOx have been identified by the EPA and CARB as pollutants that are a major public health problem. PM has been determined to be carcinogenic and NOx together with PM is a significant contributor to smog and many lung diseases such as asthma.

KleenAir is at the cutting edge of Selective Catalytic Reduction (SCR) technology that significantly reduces nitrogen oxides. KleenAir owns the patented and unique computer controlled ammonia system, the NOxMaster(R), which, when injected into the exhaust stream, interacts with NOx produced during combustion. The result converts environmentally hazardous NOx into harmless nitrogen and water. In addition, the Company's exclusive and unique converters significantly reduce particulates as well as hydrocarbons (HC) and carbon monoxide (CO). These pollutants have been shown to be a major contributor to heart and lung disease.