ST. LOUIS, Sept. 8, 2004 (PRIMEZONE) -- International Fuel Technology Inc. (OTCBB:IFUE), the developer of a series of environmental fuel technologies and fuel blends designed to increase fuel economy and reduce harmful emissions, announces that yesterday Spelman Research revised its fiscal year end 2006 price target on IFT common stock to reflect the potential of the First Asia agreement announced last week. A copy of the research update is available on the Spelman Research web site: www.spelmanresearch.com .
Spelman is an independent boutique equity research firm providing independent research for significantly under followed small cap companies. Spelman distributes its research to a broad audience of institutional and individual investors seeking information on under followed small cap stocks.
Some statements contained in this release may be forward-looking within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements as to commercialization of the company's products and business development activities. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to generate revenues and other factors as described in the Company's literature and filings with the Securities and Exchange Commission.