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SHMT News Shumate Industries to Present at Paulson Investment's 29th Annual Westergaard SmallCap Conference in New York on November 6th

CONROE, Texas--(BUSINESS WIRE)--Shumate Industries (OTCBB:SHMT), a technology-oriented energy field services company, today announced that it will be a featured presenter at the Paulson Investment's 29th Annual Westergaard SmallCap Conference sponsored by Paulson Investment Company Inc. and Dutton Associates. The conference will be held at the Waldorf-Astoria in New York City on November 6^th, 2006 and will feature thirty companies from a variety of industries with opportunities for additional small group sessions with institutional investors. Matthew Flemming, Shumate’s CFO, is scheduled to present at the conference, with the Company’s presentation being broadcast via the link provided at Shumate’s website which can be found at www.shumateinc.com.

Shumate’s management will also be available on November 7^th and 8^th for additional investor meetings in New York. Please contact Mark McPartland at 910-221-1827 or via email markmcp@allianceadvisors.net to schedule a one-on-one meeting.

Paulson Investment's 29th Annual Westergaard SmallCap Conference will showcase small and emerging growth companies focused on establishing leadership in a broad range of industry sectors, including alternative energy, security, technology, pharmaceutical, biotechnology, environmental and consumer products. Founded in 1978 by noted small cap analyst John Westergaard, this conference provides a venue for select small cap companies to share detailed insight into their business operations, short and long term growth strategies, and industry vision. Hundreds of investment professionals are expected to attend the one-day conference. For more information or to register for the event, please visit www.westergaardsmallcap.com.

About Shumate Industries, Inc.

Shumate Industries, Inc. is a Texas-based, energy field services company that incorporates new technologies to bring products to market leveraging its existing infrastructure, expertise and customer channels. The Company operates through two wholly owned subsidiaries, 1.) Shumate Machine Works, a contract machining and manufacturing division and 2.) Hemiwedge Valve Corporation, a division formed to launch a proprietary new technology in a valve product line targeting flow control, sub-sea and down-hole applications. For additional information on the Company and its products please visit www.shumateinc.com.

Forward-Looking Statements

This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, customer concentration risk, difficulties in refinancing its debt, difficulties in consolidating the operations of the Company's operating subsidiaries, difficulties in accelerating internal sales growth, volatility of the energy business and its effects on the Company's business, difficulties in new technology acceptance within the energy industry, restrictive covenants in our existing credit facilities, fluctuations in metals prices, general economic conditions in markets in which we do business, extensive environmental and workplace regulation by federal and state agencies and other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission. Shumate Industries disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events, or otherwise.