February 6, 2006

I want to thank the more than 300 shareholders who personally attended our annual shareholders meeting held on January 26, 2006. Over 91% of our outstanding shares, including over 700 new shareholders, participated in the meeting, voting overwhelmingly ( in excess of 99% ) for the reelection of directors Daniel R. Bickel, Herbert H. Dobbs, Keith E. Gleasman, James Y. Gleasman, Joseph B. Rizzo and Gary A. Siconolfi. Most importantly, over 99% of our nonaffiliated voters ( i.e. voters who have no affiliation with the Gleasman family, members of the board and their families ) voted for the reelection of all our directors. In my view, this vote directly contradicts media statements and rumors that Torvec’s shareholders are dissatisfied with the company’s existing management and the way it is running the company.

For those who were not at the meeting, I outlined Torvec’s current status and future, stressing that what all shareholders want is a good deal. I described a number of potential deal structures, including an all cash transaction, the licensing of the company’s products and a stock swap. I reviewed the advantages and disadvantages inherent in each possible structure and, in addition, analyzed the merits and hurdles associated with Torvec becoming a manufacturer of its products. I clearly stated that our preference is a stock swap since this structure will enable Torvec’s shareholders to receive immediate value, plus the future appreciation generated by the buyer who has made Torvec’s products its future.

Mr. Gary Eidlin, a Torvec consultant, presented an in depth view of the background and current status of our ongoing discussions with Peng Pu Machine, a majority owned subsidiary of China’s largest automobile company, Shanghai Automotive Industry Corporation. We will be publishing the complete text of Mr. Eidlin’s talk on our website shortly.

As I stated at the shareholders meeting, we are currently involved in ongoing demonstrations and discussions concerning all our products with state, national and international governments as well as foreign and domestic companies. These discussions concern programs dealing with:

• class 8 trucks ( semi-tractor trailer ) and our IVT;
• school buses and our IVT and Iso-Torque differential;
• delivery trucks and our IVT and differential;
• military Humvee and our IVT, differential and CV Joint;
• glass companies and our subsidiary’s ice removal technology;
• accumulator bags and our IVT;
• current GM Tahoe and Dodge vehicles and our IVT;
• Nissan 350z and our differential.

If you are interested in seeing just one of the many demonstrations that are being shown to our visitors, please click on the video above. We think you will find it encouraging.

Sincerely,

James Gleasman
Chief Executive Officer