HAMMONTON, N.J., Dec. 20 /PRNewswire-FirstCall/ -- Airtrax, Inc. (OTC Bulletin Board: AITX - News), a developer of patented, omni-directional technology with military and commercial applications, announced today that the Company has signed a letter of intent with The Vision Company, of Canada, for exclusive Canadian distribution rights of the SIDEWINDER(TM) Omni-Directional Lift Truck. Under the terms of the letter of intent, The Vision Company will purchase 10 units upon signing the agreement to gain exclusive distribution rights in Canada and must also purchase no less than 250 Airtrax units in 2005, to meet the requirements to continue the exclusive distribution arrangement. All terms and sales are subject to finalizing the distribution agreement.

(Photo: http://www.newscom.com/cgi-bin/prnh/20040824/PHTU001-b )

Under the terms of the letter of intent, Airtrax and its sales and marketing consultant, Crossfire Network, agreed to provide sole and exclusive Canadian distribution rights, including all provinces and territories, for its full line of manufactured products to The Vision Company. If the distribution agreement is finalized, The Vision Company will establish a distribution network including dealers, leasing, service centers and direct sales and marketing offices. The parties anticipate that the initial Agreement shall be for a period of five years beginning January 1, 2005, subject to the distribution company meeting predetermined and specific sales performance standards. Sales mentioned in this release are dependent upon the finalization and execution of the distribution agreements between the parties.

CEO of Airtrax Peter Amico stated, "We believe that this letter of intent is another significant step towards building our global distribution network and the internationalization of our sales process. This potential partnership will provide Airtrax with immediate access to the Canadian market, which is extremely attractive in terms of its vibrant manufacturing base, its demand for omni-directional lift trucks, and the overall potential buying opportunity for our line of products that the region represents."

Amico concluded, "On the heels of recent orders for the purchase of the SIDEWINDER Omni-Directional Lift Truck, this letter of intent and anticipated future orders will continue to bolster our efforts to gain adoption of our products. This process is well underway and I believe it will continue to accelerate in 2005."

About Airtrax, Inc.

A U.S.-based developer of omni-directional technology, Airtrax designs and manufactures omni-directional vehicles. A patented wheel was designed and developed by Airtrax after receiving a technology transfer from the US Navy in the form of a Cooperative Research and Development Agreement (CRADA).

The SIDEWINDER(TM) Omni-Directional Lift Truck and the MEC-Airtrax Phoenix(TM) aerial work platform (AWP) are the first omni-directional vehicles using omni-directional technology and the patented Airtrax wheel to be commercially produced. Unlike any other lift truck, the SIDEWINDER or the Phoenix AWP can turn 360 degrees in its own footprint, allowing warehouses to utilize 20 to 30% more of existing space. The nearly maintenance-free design also drastically reduces maintenance costs, delivering tremendous cost efficiencies to companies both large and small. The omni-directional wheel is manufactured under exclusive production rights to Airtrax. For more information and to view a must-see product demonstration, visit .

About The Vision Company

The Vision Company is a sales, marketing, and distribution company with offices in Calgary and Cochrane, Alberta. The primary purpose for the Vision Company is to facilitate the Canadian distribution and sales of the innovative products produced by Airtrax, Inc. The Vision Company currently has a database of over 250,000 warehouse and distribution facilities in Canada - all potential purchasers of Airtrax products. The Vision Company is in the process of expanding a dedicated sales force and dealer network for the exclusive intended purpose of selling, marketing, and distributing Airtrax products in Canada.

The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

For more information, contact:

OTC Financial Network

Gary Geraci, Investor Relations

781-444-6100 x629

garyg@otcfn.com

See also http://www.otcfn.com/aitx

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