CBN Worldstar Leases New Factory.Business Editors/Automotive Writers EL CAJON, Calif.--(BUSINESS WIRE)--Sept. 6, 2000 World Transport Authority, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: WTAI WTAI Wireless Telephony Applications Interface WTAI Wireless Telephony Application Interface ) (POH interj. 1. An exclamation expressing contempt or disgust; bah ! : Frankfurt), is pleased to announce that CBN CBN - call-by-name WorldStar Philippines has leased at the former Clark Air Base Clark Air Base is a former U.S. Air Force base on Luzon Island in the Philippines, now known as the Clark Special Economic Zone. It nestles against the northwest side of Angeles City and borders the municipality of Mabalacat in the province of Pampanga. , the Non Commissioned Officers (NCO) facility from the Philippine Air Forces Cooperative. The facility has 50,000 square feet of available space and is located in the New Special Clark Economic Zone. The lease was executed officially on September 4, 2000. CBN has been preparing the facility for its WorldStar(R) production purposes for the past 2-1/2 weeks based on positive early negotiations that indicated signing the lease was a foregone conclusion. Phase I production will be in full operation in 50 days, creating the infrastructure to build eight factories per month. Further production will be deployed in the following fashion: -- Phase II will be completed by 10/31/00 and will add 12 factories per month to production. -- Phase III will be completed by 03/01 and will add 20 factories per month to production. -- Phase IV will be completed by 05/01 and will add another 20 factories per month for a production capability of 60 factories per month. Company 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. and President Lyle Wardrop commented: "This was indeed a dynamic step in fulfilling the company's need to match its ratio of orders to factory production. We feel this tactic will dovetail neatly into our long term plan of satisfying production requirements for operations in the Philippines and growing interest throughout the Asian region." Composite Automobile Research Ltd. and World Transport Authority Inc. serve the emerging world's transportation needs through in-country manufacturing facilities, utilizing local semi-skilled labor to produce the WorldStar line of utility vehicles. This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. Please refer to the WTA web site WWW WWW or W3: see World Wide Web. (World Wide Web) The common host name for a Web server. The "www-dot" prefix on Web addresses is widely used to provide a recognizable way of identifying a Web site. .WTAWorldstar.com and other sources for more detailed information. Investor Relations is at 619/387-8888. |
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