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MagnaDrive Ranked as Fourth Fastest Growing Technology Company in
Washington State

Focus on Select Applications Leads to Extraordinary Growth

Bellevue, Washington, April 18, 2005 – MagnaDrive Corporation announced today that the company was honored as Washington State’s fourth fastest growing technology company on the Deloitte Technology Fast 500.

The tenth-annual Technology Fast 500 rankings were
based on the percentage growth in revenue for the
last four years. MagnaDrive achieved a phenomenal
2,485% growth during this period – ranking as the
98th fastest growing technology companies in North
America.

“It’s fantastic that the hard work of the MagnaDrive employees and distributors is getting this kind of
national and statewide recognition,” stated Jim Cich, President & CEO of MagnaDrive Corporation. “It is
an honor to lead an organization filled with such energetic and capable colleagues.” Cich commented that a key element of MagnaDrive’s extraordinary growth rate was the decision to focus on a few select
applications of the company’s technology. “By focusing on being the best at just a few things we are
accelerating our penetration into industry.”

“Growing the top line enough to make the Deloitte Technology Fast 500 is especially meaningful during
tough economic times for the technology sector”, said Mark A. Evans, national managing partner of
Deloitte’s Technology, Media, & Telecommunications Group. “But to achieve 2,485% growth over these
challenging five years in the industrial market is just incredible. We congratulate MagnaDrive
Corporation on becoming one of the 500 fastest growing technology companies in North America.”

About MagnaDrive

Bellevue-based MagnaDrive Corporation was founded in 1999. The company’s breakthrough magnetic
technology provides a cost effective solution to increase reliability and lower maintenance expense while
achieving energy savings and process control. The technology is protected by 19 domestic patents and
over 150 international patents. The impact and potential of the technology was recognized by Industry
Week magazine, which selected MagnaDrive as a Technology of the Year in 2001. More information
about MagnaDrive is available at www.magnadrive.com. For a self-paced online tutorial about
MagnaDrive’s technology, please see the MagnaDrive Education System at
www.magnadriveeducation.com.

About Deloitte
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respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu
nor any of its member firms has any liability for each other’s acts or omissions. Each of the member
firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte &
Touche,” “Deloitte Touche Tohmatsu,” or other related names. Services are provided by the member
firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Swiss Verein.
Deloitte & Touche USA LLP is the U.S. member firm of Deloitte Touche Tohmatsu. In the U.S., services
are provided by the subsidiaries of Deloitte and Touche USA LLP (Deloitte & Touche LLP, Delo