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Exhibit 99.3

          TURBODYNE ANNOUNCES DISMISSAL OF LAWSUITS


Carpinteria, California - May 9, 2001 - Turbodyne Technologies, Inc.
(TRBD) announced today that on Tuesday, May 8, 2001, the Superior
Court of the State of California granted the Company's request and
ordered that (i) the Company's lawsuit against its former corporate
counsel be dismissed and (ii) the counsel claiming to represent the
Company in such action be removed and replaced by counsel selected by
the Board of Directors.

On January 24, 2001, Rainer Wollny, the former President and Chief
Executive Officer of the Company, retained Norbert A. Schlei, Esq. to
represent the Company in an action against the Company's former
corporate counsel. Mr. Wollny did not obtain the consent of the Board
of Directors to retain Mr. Schlei or to file the lawsuit. On March 30,
2001, the Board of Directors determined that the lawsuit was without
merit, ordered the lawsuit dismissed and directed Mr. Schlei to cease
representing the Company.

Mr. Schlei represents Ed Halimi, a former Chairman of the Board,
President and Chief Executive Officer of the Company, in a pending
investigation by the United States Securities and Exchange Commission.
The Company believes that the investigation pertains to certain press
releases issued by the Company between May 1997 and September 1998. In
April 1999, the Nasdaq Listing Qualifications Panel determined to
delist the Company's securities from The Nasdaq Stock Market. In the
opinion of the Panel, the Company engaged in a pattern of issuing
misleading and incomplete press releases, which often were unsupported
by an adequate basis in fact.

Dr. Balabanian, the Chairman of the Board, noted: "We are delighted
that the Court has upheld the decision of the Board of Directors to
dismiss this meritless lawsuit. It is simply beyond comprehension that
this Company should squander its limited resources launching lawsuits
against the very people who have been tireless in uncovering and
correcting the abuses of prior management. The selection of Mr.
Schlei, who has a clear conflict of interest, as counsel raises
serious questions concerning the true purpose of this lawsuit."
Kenneth Fitzpatrick, the successor to Mr. Wollny as President and
Chief Executive Officer, stated: "I sincerely hope that all parties
will now join together and redirect their energy to addressing the
critical issues facing our Company, particularly improving our working
capital position."

Turbodyne Technologies, Inc., a California based high technology
company, specializes in the development of charging technology for
internal combustion engines and the development and manufacturing of
high-tech assemblies for electrically assisted turbochargers and
superchargers. Turbodyne Technologies' headquarters is located in
Carpinteria, California, and its European office is located in
Frankfurt, Germany.

Contacts:

Kenneth Fitzpatrick - President and CEO at California Headquarters:
(800) 566-1130


This release contains forward-looking statements as defined in Section
21E of the Securities Exchange Act of 1934, including statements about
future business operations, financial performance and market
conditions.  Such forward-looking statements involve risks and
uncertainties inherent in business forecasts.


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