A.X.R. Development Corporation, Inc.
                     9005 Cobble Canyon Lane
                        Sandy, Utah 84093

                 PRESS RELEASE-December 15, 1998

     Sandy, Utah.  A.X.R. Development Corporation, Inc. ("AXR") announced
today that it has entered into a letter of intent with Dancor, Inc.
("Dancor"), based in Draper, Utah, to acquire all of the issued and
outstanding shares of common stock of Dancor in a tax-free, stock-for-stock
reorganization.  In accordance with the terms of the letter of intent, the
shareholders of Dancor will acquire 95% of the outstanding shares of AXR
following the Reorganization Agreement with AXR.  It is anticipated that after
the closing of the transaction, the current shareholders of AXR will own
approximately 1,000,000 shares and that the shareholders of Dancor will be
issued approximately 19,500,000 shares, including shares reserved for issuance
in accordance with outstanding Dancor stock options.  The reorganization is
scheduled to close on or about December 31, 1998, subject to the execution of
definitive agreements by AXR, Dancor and the shareholders of Dancor.  AXR has
no current operations while Dancor is engaged in research and development,
manufacture, marketing, sales and distribution of a proprietary coating
product called Vitroseal (trademark).

     Pending the completion of the Reorganization, AXR's name has been changed
to "Advanced Coating Technologies, Inc."; the Company effected a 23 for 1
reverse split of the outstanding stock, effective December 10, 1998; and its
OTC Bulletin Board symbol has been changed to "ACTG."

     Dancor owns the rights to the Vitroseal process.  The process is based
on inorganic silicate chemistry that makes superior, bright, clear, corrosion-
protective coatings on metal surfaces.  Vitroseal is a waterborne coating
which emits no organic vapor emissions so is environmentally friendly.  Dancor
is currently focused on refining Vitroseal for use in coating truck and car
tire rims for protection and aesthetics.

     For further information, contact David Merrell, President of AXR (801-
942-0555), or John W. Nagel, Chief Financial Officer of Dancor (801-553-8753).