puraDYN To Delay 2004 Form 10-K Filing

    Business Editors/Energy Editors

    BOYNTON BEACH, Fla.--(BUSINESS WIRE)--March 31, 2005--puraDYN Filter Technologies Incorporated (AMEX:PFT) announced today that it will file a notice of late filing with the Securities and Exchange Commission as permitted by Rule 12b-25 under the Securities Exchange Act of 1934, as amended, with regard to the filing of its Form 10-KSB for the fiscal year ended December 31, 2004.
    The delay in filing is primarily due to two recent events. In November 2004, puraDYN and Ernst & Young, LLP mutually agreed to dissolve their relationship and the Company retained the firm of DaskalBolton LLP as its new independent registered public accounting firm. Additionally, in late February 2005, the Company's Chief Financial Officer resigned her position and a new CFO was hired. With changes in both CFO and auditor, the Company requires additional time to complete the audit results.
    puraDYN currently anticipates filing its 2004 Annual Report on or before the extended deadline of April 15, 2005. The short delay does not impact or change the Company's financial results for the fourth quarter and fiscal year 2004.

    About puraDYN Filter Technologies Incorporated

    puraDYN (AMEX:PFT) designs, manufactures and markets the puraDYN(R) Bypass Oil Filtration System, the most effective filtration product on the market today. It continuously cleans lubricating oil and maintains oil viscosity to safely and significantly extend oil change intervals and engine life. Effective for internal combustion engines, transmissions and hydraulic applications, the Company's patented and proprietary system is a cost-effective and energy-conscious solution targeting an annual $13 billion potential industry. The Company has established aftermarket programs with several of the transportation industry leaders such as Volvo Trucks NA, Mack Trucks, PACCAR; a strategic alliance with Honeywell Consumer Products Group, producers of FRAM(R) filtration products; and continues to market to major commercial fleets. puraDYN(R) equipment has been certified as a 'Pollution Prevention Technology' by the California Environmental Protection Agency and was selected as the manufacturer used by the US Department of Energy in a three-year evaluation to research and analyze performance, benefits and cost analysis of bypass oil filtration technology.
    Statements in this press release which are not historical data are Forward-Looking Statements which involve known and unknown risks, uncertainties or other factors not under the Company's control, including but not limited to the possible inability to raise capital funds, lack of protection from intellectual property, vulnerability because of manufacturing a limited number of products, dependence on distributors, orders previously stated in this press release may not materialize, and the possibility that the products do not meet customers' needs, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these Forward-Looking Statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.

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CONTACT: puraDYN Filter Technologies, Inc., Boynton Beach Kathryn Morris, 561-547-9499, x 226 investor-relations@puradyn.com http://www.puradyn.com

KEYWORD: FLORIDA INDUSTRY KEYWORD: OIL/GAS ENVIRONMENT MANUFACTURING ENERGY UTILITIES SOURCE: puraDYN Filter Technologies Incorporated

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