Judge Denies Muller Motions in Case Brought by SWA, SEC

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HANetf S&P Global Clean Energy Select HANzero UCITS ETF - Acc	BIT:ZERO	Italy	Exchange Traded Fund

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Judge Denies Muller Motions in Case Brought by SWA, SEC

31/12/2004 2:00pm

PR Newswire (US)

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Judge Denies Muller Motions in Case Brought by SWA, SEC Decision in SWA's Favor Clears Way for Summary Judgment LOS ANGELES, Dec. 31 /PRNewswire-FirstCall/ -- Save The World Air, Inc., (Pink Sheets: ZERO) today announced that the US District Court, Southern District of New York, has denied motions filed by SWA's former CEO and President Jeffery Muller and various members of his family related to a cross-complaint brought against them by Save The World Air, Inc. and the US Securities and Exchange Commission. Jeffery Muller and members of his family filed seven separate motions, including dismissal of the cross-complaint, the vacating of the 2002 preliminary injunction and a summary judgment. All of which were denied. Regarding Mr. Muller's request for a summary judgment dismissing the cross-complaint, Judge George B. Daniels wrote: "For the most part, Jeffery Muller offers his own self-serving statements to dispute the validity of the factual allegations in the cross-complaint. Such a proffer constitutes inadmissible hearsay, and is insufficient to satisfy movant's burden of proof." Judge Daniels also wrote: "Moreover, the assets, or a significant portion thereof, were allegedly obtained as a result of Jeffery Muller's fraudulent activities in looting SWA. Those assets should therefore be preserved until litigation is resolved." "We are very gratified by the Judge's decision on these matters and are looking forward with optimism to a final ruling on our summary judgment motion in the near future," said Edward Masry, SWA's Chief Executive Officer. "Once that happens, we hope to close the book on Mr. Muller's involvement with SWA and focus on bringing the CAT-MATE and our other great products to market." On December 19, 2001, the SEC filed civil charges against Mr. Muller alleging that he and others engaged in a fraudulent scheme to promote SWA stock. In March, 2002, SWA reached a settlement on this case under which the Company was not required to pay any fines or restitution. In July 2002, after an investigation by its newly constituted board of directors, SWA filed a cross-complaint in the SEC action against Mr. Muller and others seeking injunctive relief, disgorgement and financial restitution for a variety of acts and omissions in connection with sales of SWA stock and other transactions occurring between 1998 and 2002. A final ruling on these cases is anticipated in early 2005. Save The World Air, Inc., was created to develop devices using proprietary technologies that can be installed on motor vehicles to reduce harmful emissions, improve fuel efficiency, and/or improve performance. Judge George B. Daniels' Memorandum Decision and Order can be viewed at savetheworldair.com. Safe Harbor Statement The statements contained herein, which are not historical, are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward looking statements, including, but not limited to, SWA's ability to market its technologies and devices and future customer acceptance for these products and services and other risks set forth in SWA's filings and future filings with the Securities and Exchange Commission, including those set forth in SWA's Annual Report on Form 10-KSB for the year ended Dec. 31, 2003. For more information please contact: Jason Booth of Sitrick And Company, +1-310-788-2850, for Save The World Air, Inc. DATASOURCE: Save The World Air, Inc. CONTACT: Jason Booth of Sitrick And Company, +1-310-788-2850, for Save The World Air, Inc. Web site: http://savetheworldair.com/

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ZERO HANetf S&P Global Clean Energy Select HANzero UCITS ETF - Acc