Coates International Signs Agreement for Cash Incentives of up to US$787,526,057 with the State of Oklahoma Department of Commerce

WALL TOWNSHIP, New Jersey - Coates International, Ltd. “The Company” (OTC Bulletin Board:
COTE) is pleased to announce that on March 24, 2009 the Company signed an
agreement with the Executive Director, Secretary of Commerce of the State of
Oklahoma for a cash incentive package of $787,526,057 US Dollars for
setting-up the Coates International Manufacturing and Production Operations
and for the creation of new quality jobs in that state. Senior management of
the Company plan to visit with the Executive Director of Commerce and other
Executives of the State of Oklahoma within approximately 45 days.

Management will inspect the Industrial Complex to determine if
the complex and location is suitable for Coates International
Manufacturing-Production Operations. Determining the amount of start-up
funding and acquiring it is just one of many obstacles; the Company is
already in-touch with the Federal Department of Commerce.

A Stockholders update will be issue soon. Additional information
about the Company including photos and videos are available at the Coates
News website www.mostadvancedengine.com. Readers may also visit our corporate
website at www.coatesengine.com.

Source: Coates International, Ltd.

Sharon Arena of Coates International, Ltd., +1-732-449-7717, or info at coatesengine.com