November 19, 2004

The Most Difficult of Times; The Best of Times

I join the entire Torvec family in extending condolences to the Gleasmans on the passing of the family patriarch, Vernon Gleasman.

Over the past nine months in my dealings with Vernon Gleasman, I only began to understand the depth of knowledge that he has passed on to his sons, Jim and Keith, over the decades. I was truly impressed with Vernon’s availability for consultation and advice. I witnessed firsthand Vernon’s passion for sharing his vast pool of engineering experience and innovative spirit with the entire Torvec team.

The world will remember Vernon as a great inventor – he was recognized as one of the world’s premier authorities on gear technology. I, and I am sure the Gleasman family, will remember him equally as one of the world’s greatest teachers. Vernon did not simply turn over his inventions to Torvec. Instead, he imbued both of his sons with the ability and intense desire to be inventors in their own right.

Because of Vernon’s foresight, the Torvec portfolio has been and continues to be in good hands. As we move forward, our success will be a tribute to Vernon’s life.

I am confident that Torvec is on the threshold of delivering bulletproof, positive results substantiating our conviction that our hydraulic transmission will provide significantly greater fuel efficiency and reduced emissions with no economic penalty.

The passing of Vernon has been a difficult personal time for the Torvec family. Yet ironically, the immediate future should be the best of times for Torvec and its shareholders.

Sincerely,

Richard Ottalagana, CEO

Vernon Gleasman's Accomplishments (Adobe Acrobat Document)