News Release

Northridge, CA, May 4, 1998 -- Soligen Technologies, Inc. (AMEX: SGT.EC), a provider of proprietary Rapid Metal Casting services, today announced that it has received $800,000 of a total expected equity infusion of $1,500,000. The second tranch of approximately $700,000 is anticipated on or before the end of May 1998.

In a special shareholder meeting held at the Company's headquarters on Monday, April 20, 1998, the shareholders approved the authorization of preferred stock as well as an increase in the number of authorized common shares. The Company Board of Directors subsequently approved a private placement consisting of 3,000 class A Convertible Preferred Shares with a stated value of $500 per share. The conversion ratio of the Series A Preferred increases by 12% effective one year after the date of issuance, and thereafter increases at a rate of 12% per annum. In the first twelve months, each Class A Preferred Share can convert, subject to certain terms, at a conversion price of $0.50 per share into 1,000 common shares. Thereafter, the preferred shares can be converted at, essentially, the prevailing trading price of Soligen's common shares, with mandatory conversion when Soligen's shares trade at $1.00 per share, or more, for twenty or more consecutive days. The Series A Preferred Shares have a floor conversion price of $0.50 per share.

"The institutional investors, Koyah Leverage Partners, LP and Koyah Partners are long-term investors who cast their vote of confidence in Soligen's management and strategic plans," said Yehoram Uziel, Chairman and CEO. "The funds raised will allow the Company to complete its move into the new 7,000 square foot DSPC production facility it developed adjacent to its Northridge headquarters. The enlarged DSPC production center will initially operate seven upgraded proprietary DSPC machines. Additionally, with this funding, the Company plans to add up to five additional DSPC machines to meet the capacity requirements of its planned Fiscal 1999 forecasted revenues." Furthermore, the new capital will allow the Company to significantly expand its sales and marketing efforts to aggressively drive the Company's growth.

Soligen's Direct Shell Production Casting (DSPC®) technology is a proprietary metal casting process. DSPC produces the ceramic molds for metal casting directly from a Computer Aided Design (CAD) file, thus eliminating the need for tooling in the fabrication process of conventional ceramic or sand molds that are needed for casting metal parts. Soligen's computerized Rapid Manufacturing services, trademarked Parts Now, combines DSPC, several conventional casting and Computerized Numerical Controls (CNC) machining technologies. Parts Now therefore substantially reduces the time and costs of bringing new products to market by quickly fabricating cast and machined metal parts, regardless of their complexity, from the engineer's CAD file. This rapid time-to-market is accomplished by expediting both the development stage and the launch into serial manufacturing of cast metal parts. DSPC eliminates the need for casting tools at the development stage. In addition, once the casting design is complete and the part is approved for serial production, steel patterns, and molds for cores, lost foam patterns or die casting molds are produced quickly by DSPC. These tools are then launched with conventional foundries yielding a rapid "one stop-shop" for complex cast metal parts. Soligen has established repeat business with a diverse customer base in the automotive, aerospace, turbine, valve and pump markets. A partial client list includes manufacturing leaders such as Allied Signal, Caterpillar, Cooper, Deere, Delphi, Ford, General Motors, Goulds Pump, Navistar, Nissan, and Sulzer.

Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, time development and release of new products by strategic suppliers and customers, the effort of the Company's accounting policies and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission.

DSPC^® and Parts Now^® are registered trademarks of Soligen.