Coates International, Ltd. Ships Industrial CSRV Electric Power Engine Generator to Canada

WALL TOWNSHIP, N.J., Nov. 22, 2010 /PRNewswire/ -- Coates International, Ltd. (OTC Bulletin Board: COTE) –Coates International Ltd. (the "Company")  is pleased to announce that on Friday, November 19, 2010 the Company shipped the first CSRV industrial electric power natural gas engine generator to Almont Energy, Inc., our licensed customer in Canada.

• The Company is working diligently to ramp up its manufacturing capability in order to produce a steady supply of Coates CSRV industrial electric power natural gas generators for our customers in the oil and gas industry.

• The exclusive Canadian license with Almont Energy, Inc. provides for an annual minimum purchase of 120 CSRV electric power systems by Almont in order to maintain their license exclusivity. This equates to sales by the Company of approximately $15,000,000 per year. However, the Company's business plan currently anticipates manufacturing and shipping significantly more than 120 CSRV electric power systems yearly.

• Almont Energy, Inc. owes the Company a balance of $4,997,000 for the Canadian License fee and R&D Agreement, plus an additional $1,000,000 deposit on the USA License Agreement, which totals $5,997,000. The balance of the USA Exclusive License of $49,000,000 is payable to the Company in installments over five years.

• The Company is pressing forward with its business plans and is continuing negotiations with a number of entities. Additional details will be released as agreements are consummated.

About Coates International, Ltd.: Coates has been developing over a period of more than 15 years a patented spherical rotary valve CSRV Internal Combustion Engine invented by George J. Coates and his son Gregory. The CSRV system is adaptable to combustion engines of many types. This technology is currently adapted to a number of practical applications, including industrial generators powered by engines incorporating the CSRV technology and designed to operate on flare-off gas from oil wells, landfill gas and raw natural gas. The Company is engaged in building the initial production version of its CSRV power units for shipment.

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include market conditions, regulatory approvals, and other risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC may be viewed and printed on the website maintained by the SEC at http://www.sec.gov

SOURCE Coates International, Ltd.

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