American Utilicraft Corporation and WSI Hong Kong, Ltd., Sign Letter of Intent for 300 FF-1080 Freight Feeder Aircraft and Exclusive Distributorship for the Far East Markets.Business Editors LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--Jan. 13, 2004 American Utilicraft Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : AMUC AMUC Acta Mathematica Universitatis Comenianae ) and WSI See wafer scale integration. Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Ltd., today jointly announced that the companies have entered into an arrangement encompassing exclusivity for the Far East air freight air freight n → flete m por avión air freight n → fret aérien air freight air n → Luftfracht f markets. John J. Dupont, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Utilicraft Corporation, and Ruben O. Caputo, President and CEO of WSI Hong Kong, Ltd., signed a Letter of Intent in mid-November of last year to facilitate on-going discussions and negotiations for positions on 300 FF-1080 Freight Feeder Aircraft, including exclusive rights for sales and support in the Far East Markets. This represents the Company's efforts to launch "back into the market" post 9/11, and solidifies the Company's dedication and commitment to bring the FF-1080 into production. "We are very pleased to be in negotiations to launch the aircraft into the international freight market with WSI Hong Kong, Ltd. Additionally, the Letter of Intent for 300 FF-1080 aircraft reinforces our belief that the FF-1080 can fulfill the growing need in the global short haul Short distance. Short haul implies traversing a small geographic area such as a few miles at most. Contrast with long haul. See line driver. feeder segment which presently is a completely untapped market. This will be a great opportunity to prove the FF-1080's capabilities in the demanding utility markets of the Far East," stated John Dupont. Under the proposed Distributorship Agreement WSI Hong Kong, Ltd., will have aircraft sales responsibilities for the Far East, working in partnership with American Utilicraft. As part of the arrangement, WSI Hong Kong, Ltd., will also assist in the development of additional contractors for Maintenance and Product Support programs for the FF-1080 in the Far East. Company officials of both companies expect to finalize terms for the first production lot of 36 aircraft during first quarter 2004. Initial deliveries are anticipated to begin in 2006, if the Company is able to meet its planned commencement of construction of the Pre-Production Prototype aircraft in 2004. About WSI Hong Kong, Ltd. WSI Hong Kong, Ltd., a private company based in Hong Kong, was selected because of their broad experience in international trade, combined with highly developed skills in product development, sales and distribution. About American Utilicraft Corporation American Utilicraft Corporation was formed in 1990, to target the significant problem of addressing the overnight express, supply chain, e-commerce, and global third party logistics entities inability to provide effective "containerized con·tain·er·ize v.tr. con·tain·er·ized, con·tain·er·iz·ing, con·tain·er·iz·es 1. To package (cargo) in large standardized containers for efficient shipping and handling. 2. " fulfillment and distribution in the short haul (or feeder) route segments of air cargo air cargo: see aviation. . The result of the Company's research and development is a new air vehicle, the FF-1080 Freight Feeder aircraft, capable of carrying standard industry air containers on short-to-medium range/medium density routes, and an integrated air cargo information system for the freight feeder market. For more information visit the Company's website at www.utilicraft.com Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this press release involve risks and uncertainties and reflect the company's current views with respect to possible future events. Readers are cautioned that no forward-looking statement can be guaranteed and actual results or events may materially differ from those projected or anticipated. In particular, the following factors, among others, could cause actual results or events to differ materially from those described in the forward-looking statements: the company's ability to obtain and fulfill contracts for the sale of products, protect intellectual property rights and manage future growth; market acceptance of future products; product supplier delays; design and engineering certification delays or denials; and the introduction of similar products by competitors. Any forward-looking statement made in this press release is made as of the date of this press release, and the company assumes no obligation to update any such forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect the company's business, particularly those mentioned in the Risk Factors section contained in the company's Form SB-2, as filed with the Securities and Exchange Commission. |
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