Walter Schindler, Former Managing Partner of Gibson Dunn, joins ORYXE Energy International as Chairman and Chief Executive Officer

Irvine , Calif. – August 10, 2004 – ORYXE Energy International announced today that Walter Schindler, a legal and strategic advisor to some of the nation’s best known companies, has been named Chairman of the Board and Chief Executive Officer of the progressive “CleanTech” energy technology company.

ORYXE Energy develops and markets proprietary biochemical fuel additives for diesel, gasoline, and heavy distillates to enable these fuels to burn cleaner, thereby reducing toxic environmental emissions.

“Throughout my career, I have concentrated on developing forward-looking companies that make the world a better place,” Schindler said. “ORYXE Energy is dedicated to developing cleaner-burning, more efficient fuels. I am excited to be focusing so much of my attention on a company will improve the world’s environment.”

In addition to his ORYXE responsibilities, Schindler will continue to serve as Founder and Managing Partner of Odyssey Venture Partners, an Orange County, Calif.-based venture capital firm, which he founded in 2001. The founders of ORYXE requested Schindler to become Chairman and CEO as they focused more on building the management team.

Schindler is best known as the former Managing Partner of law firm giant Gibson Dunn & Crutcher’s Orange County office, where he specialized in mergers, acquisitions, buy-outs and initial public offerings. While at Gibson Dunn & Crutcher, Schindler served as a key advisor to the Board of Pacific Life Insurance Company with respect to the realization of value from its investment in Pacific Investment Management Company (PIMCO), a venture created and incubated by Pacific Life. It eventually went public before being acquired by Allianz in a $4.7 billion transaction. In addition to his work with Pacific Life and other investment institutions, Schindler has been a corporate, legal and strategic advisor to numerous Southern California-based companies such as Ultrasystems, RemedyTemp, Allergan, Security Pacific National Bank, Fluor, First American Financial, Novadyne Computer Systems and Safeguard Health.

In 2001, Schindler teamed up with Alan Sellers, Thomas Cain and David Jones and founded Odyssey Venture Partners, one of the leading venture capital firms in the new area of CleanTech. Odyssey is the lead venture capital investor in ORYXE Energy.

Schindler graduated with honors from Yale University (BA, MA, PhD) and Harvard University (JD), and was a Fulbright Scholar in Italy .  Schindler was a co-founding director of the Southern California Entrepreneurship Academy and was an early leading member of the CEO Roundtable at UC Irvine.

ORYXE Energy was formed in October 2001 to develop and commercialize biologically based, biodegradable, and environmentally clean fuel additives. The Company has conducted extensive research and development and has filed 11 patents. ORYXE Energy sells its additives directly to refineries and terminal operators in order to penetrate the broadest possible market.

Recently, the Company has made several announcements regarding the company’s growth and milestones. Lee C. Tashjian, vice president of corporate communications for Fluor Corp., was elected to the Board of Directors. Michael D. Redemer, formerly venture executive for ChevronTexaco Technology Ventures, as well as a former manager of the California Air Resources Board, was named Executive Vice President of the company. Redemer also was elected to the company’s Board of Directors.

About ORYXE Energy

ORYXE Energy International, Inc., based in Irvine, Calif., develops, certifies, and distributes bio-additives that improve fuel performance and reduce toxic environmental emissions from the combustion of hydrocarbons, such as diesel fuel, gasoline, and residual fuels.

Odyssey Venture Partners of Newport Beach, California, is the lead venture capital investor in ORYXE.

Forward-Looking Statements

Estimates, expectations, and business plans are forward-looking statements. Actual future results, including product introduction schedules, market receptiveness, regulatory approvals, and commercial viability, could differ materially due to changes in conditions affecting the industry, political, legal or regulatory developments, and market conditions.