PICKERING, ON, June 24 /PRNewswire-FirstCall/ - Hydrogen Hybrid Technologies Inc.(HYHY:otcbb) is pleased to announce that, on June 23, 2008, Mr. Frank Carino returned to the Treasury and the Company cancelled 40,000,000 shares of it common stock, $0.001 par value per share, that had been outstanding in the name of Mr. Frank Carino. Such certificate representing 40,000,000 common shares has been returned and cancelled by the Registrant's transfer agent on June 23, 2008. Following the cancellation of these shares, the Company will have 67,323,862 Restricted Common Shares and 21,747,500 Non-restricted shares issued and outstanding.

Following the cancellation of these shares, Mr. Carino will remain the largest shareholder in the Company, owning 42,000,000 shares or forty-seven (47) percent of the issued and outstanding common shares. Prior to the date of cancellation of these shares, Mr. Carino and the Company reached a mutually agreeable understanding that as consideration for this cancellation, Mr. Carino will help the Registrant find capital funding, whereby Mr. Carino will personally receive ten (10) percent of any monies raised through his efforts. Mr. Carino believes he can raise one million dollars for the Company within the next 30-days. If he is successful in raising these funds for the Company he will receive one hundred thousand dollars. If he can raise additional funds for the Company he will receive ten percent of the monies raised with a limit of one million dollars in finder's fees.

HFI technology is installed as an add-on to diesel and gasoline engines where it significantly reduces a wide variety of emissions (CO, PM, HC, CO2 and NOx) while simultaneously reducing fuel consumption. HFI units are being used by long-haul transport trucks, ambulances, municipal buses and other heavy equipment, earning HFI the dominant position as the world's most widely-used on-board electrolysers. The technology is based on electrolysis and the units split water, on-board the ambulance, then vent the hydrogen and oxygen directly into the air intake of the engine. Adding hydrogen significantly improves the efficiency of combustion, in the engine, with significant financial and environmental benefits.

HFI is distributed through the world's largest retail distribution network for any hydrogen product, with over 140 Certified Installation Centres all across Canada, the United States, and a number of international markets. The product is the first emission control technology to receive "Environmental Technology Verification" (ETV) by the Canadian government and the first hydrogen technology to receive ETV recognition anywhere in the world.

Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

SOURCE Hydrogen Hybrid Technologies Inc.