International Fuel Technology, Inc. Signs Technology Evaluation Agreement with China Petroleum & Chemical Corporation Limited

  International Fuel Technology, Inc. Signs Technology Evaluation Agreement
  with China Petroleum & Chemical Corporation Limited (SINOPEC)

Business Wire

ST. LOUIS -- July 26, 2012

International Fuel Technology, Inc. (IFT) (OTCBB:IFUE) announced today that it
has signed a technology evaluation agreement with SINOPEC, the largest oil
company in China and the fifth largest corporation in the world. China is also
the second largest global consumer of oil. The rising oil consumption, when
added to the extensive reliance on coal for power generation, has created a
serious deterioration in China’s air quality.

SINOPEC will evaluate IFT’s DiesoLiFT™ 10 fuel additive. This breakthrough
proprietary fuel technology has consistently demonstrated both in the lab and
in the field that it not only increases fuel economy but also reduces harmful
emissions.

“The maturation of IFT and the growing acceptance of the efficacy of our
technology are generating more and more interest from larger companies,” said
Dr. Sergio C. Trindade, IFT’s Director of Science and Technology. “We are
pleased that after months of discussions and information exchange SINOPEC
decided to move forward with IFT.”

“The growing demand for oil and the ever-increasing environmental pressures
and pollution abatement initiatives make DiesoLiFT™  10 an ideal technology to
address these issues. Use of our additive in China’s diesel fuel stream would
reduce both fuel consumption and harmful atmospheric emissions, including
particulate matter,” concluded Dr. Trindade.

“The opportunity to work with a company of SINOPEC’s size and stature is a
milestone event for IFT,” said Jonathan Burst, IFT’s Chairman and CEO.

About International Fuel Technology

IFT is a fuel performance enhancement company focused on providing its
technology to large, industrial consumers of diesel fuel and bio-diesel fuel
blends in the rail, stationary power generation and road transport industries.

IFT has two primary product lines, DiesoLiFT™ 10 and the PerfoLiFT™ ^ 
BD-Series.

DiesoLiFT™ 10 is IFT’s proprietary fuel additive formulation for use with
diesel fuel and bio-diesel fuel blends. The product has been scientifically
proven to provide a significant improvement in fuel economy and a reduction in
harmful emissions. In addition, DiesoLiFT™ 10 increases fuel lubricity,
provides detergency benefits and co-solves normal amounts of free water, which
collectively reduce maintenance costs for the end user. The product is easy to
use, only splash blending is needed, and its use has been proven to have no
effect on fuel composition, make-up or standard specification.

The PerfoLiFT™ BD-Series is a series of fuel additive formulations
specifically developed to provide superior oxidation stability and deposit
formation control to bio-diesel and bio-diesel fuel blends.

Safe Harbor Statement

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.

Further information on DiesoLiFT™ and the PerfoLiFT™ BD-Series may be found at
IFT’s website at: www.internationalfuel.com.

Contact:

International Fuel Technology, Inc.
Stuart Beath, Chief Financial Officer, 314-863-3000 x417