ODYC Odyne Corporation (CE)

Odyne Corporation (OTCBB:ODYC), the leading developer of advanced Plug-In Hybrid Electric Vehicle (PHEV) Technology for class 6,7 and 8 buses and trucks, announced today that it held its first Stockholders Meeting on May 27th, in Hauppauge, NY. Four proposals were submitted by management to the stockholders for approval: the proposals included the election of Directors, changes to the 2006 Equity Incentive Plan, approval of the non-qualified stock option agreement with Alan Tannenbaum, Odyne�s Chief Executive Officer, and the ratification of the appointment of Holtz Rubenstein Reminick LLP as the independent auditor. All four proposals were approved by stockholders. Mr. Tannenbaum and Dan Bartley, Odyne�s Chief Financial Officer reviewed the 2007 results and entertained questions from the attending stockholders. About Odyne Corporation Odyne Corporation is a clean technology company that develops and manufactures propulsion systems for advanced Plug-in Hybrid Electric Vehicles (PHEV), specifically medium and heavy-duty trucks and buses. The company has developed a proprietary system combining electric power conversion, power control and energy storage technology, with standard electric motors, storage batteries and other off the shelf components that enables vehicles to have lower fuel, operating and maintenance costs with substantially lower emissions. Visit www.odyne.com for more information. Forward-Looking Statements This news release contains certain "forward-looking statements," related to the business of Odyne which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development and commercialization, regulatory actions or delays, the ability to obtain or maintain patent and other proprietary intellectual property protection, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the U.S. Securities and Exchange Commission. Odyne is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.