Axis Technologies Announces Alliance With Green Tech Energy Services to Offer Axis Ballasts in Commercial Lighting Upgrades

Major Energy Service Company in New Jersey

Axis Technologies Group, Inc. (PINKSHEETS: AXTG), a designer, manufacturer and marketer of a proprietary line of energy saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry, announced today that the green technology company has formed an alliance with Green Tech Energy Services (www.greentechenergy.com). Green Tech is headquartered in Mt. Laurel, NJ, and is an Energy Service Company (ESCO).

Nick Bussanich, Axis's East Coast area manager, said, "Axis is very pleased to add another important user of the energy-efficient Axis Dimming and Daylight Harvesting ballast system. The number of buildings which can benefit from daylight harvesting in their trade area is innumerable and we look forward to working together to make a significant impact in the adoption of Axis' energy saving ballasts for fluorescent lighting."

Paul Haviland, VP of Green Tech Energy, stated, "We are very excited to be able to introduce the Axis dimming ballasts to our customers. We are pleased by the simplicity, ease of installation, low cost, and energy efficiency of the Axis ballast line." Mr. Haviland continued, "The state of New Jersey offers generous rebates to end-users who install the Axis ballasts, and we look forward to helping our customers in their goals to reduce energy and concurrently, their green-house gas emissions."

A recent interview of Jim Erickson, President of Axis Technologies, Inc., conducted by The Wall Street Transcript is available at http://www.axistechnologyinc.com/wallstreet-transcript-interview.pdf.

A demonstration video of the Axis Daylight Harvesting Ballast is accessible at http://www.axistechnologyinc.com/video1.html.

To be included in the corporate e-mail database for press releases and industry updates, please send an e-mail to ir@axistechnologyinc.com

About Green Tech Energy Services

GreenTech Energy Services is an innovative Energy Services Company (ESCO) that provides its customers with cost-effective energy reduction solutions. GreenTech has designed, engineered and installed energy-efficient retrofits in over 4,000 commercial buildings, serving customers on a national level, GreenTech provides their customers with a host of comprehensive energy service solutions.

The company was incorporated in 1994 with a focus on lighting solutions. Since that time they have evolved to meet the comprehensive needs of their customers by incorporating HVAC, Building Automation Systems, Controls, Motor Control Systems and Geo Thermal Systems. Their team of certified lighting sales professionals and engineers manage the selling cycle from the introduction, investment grade audit, proposal presentation, project management, installation, and guarantee. Their retrofits combine State of the Art Lighting Technologies such as the Axis ballasts to achieve attractive financial rate of returns. All projects are completed with their own licensed in house installers.

About the Axis Technologies Ballast

Axis Technologies Group, Inc. has developed an innovative new ballast, an electronic component that regulates voltage in fluorescent lighting, that focuses on expanding daylight harvesting into mainstream fluorescent lighting applications. The patented Axis Dimming/Daylight Harvesting Ballast is a new technology that transforms the ballast, a once standard lighting industry staple, into a dynamic energy saving system that can reduce lighting energy costs by up to 70%. The Axis DDH Ballast utilizes an individual photo sensor to automatically adjust the amount of electrical current flowing to the light fixture, and then dims or increases lighting in conjunction with the amount of available sunlight that may be harvested from available windows and sunlight. The Axis DDH Ballast avoids "over-lit" conditions that increase energy costs by keeping lighting "tuned" to the desired level in a designated area.

About Axis Technologies Group, Inc.

Axis Technologies Group, Inc. (www.axistechnologyinc.com) conducts its business through a wholly owned subsidiary, Axis Technologies, Inc., a Delaware corporation headquartered in Lincoln, Nebraska. Axis Technologies, Inc. designs, manufactures and markets a proprietary line of energy-saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry. The company's target market is small to large commercial users of fluorescent lighting including office buildings, wholesale and retail buildings, hospitals, schools, and government buildings. In 2002, Underwriters Laboratory (UL) approved Axis products for sale in both the United States and Canada. The Axis Dimming/Daylight Harvesting (DDH) ballast is priced competitively and is the only daylight harvesting ballast system that can be marketed as a replacement for a standard ballast.

Investors interested in receiving industry and company updates are invited to be added to the company's e-mail database by e-mailing ir@axistechnologyinc.com

Safe Harbor

Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.