CirTran's Iehab Hawatmeh Commends and Joins Blasting of 'Naked Shorting' by Overstock.com President.

SALT LAKE CITY -- Iehab J. Hawatmeh, founder and president of CirTran Corp. (OTCBB: CIRT), an international full-service contract manufacturer of IT, consumer and consumer electronics products, today commended and joined with the president of Overstock.com (NASDAQ: OSTK) in his public condemnation of "naked shorting."

"I am delighted to stand shoulder-to-shoulder here in Salt Lake or any place else with Overstock.com President Patrick Byrne in this very important matter," Hawatmeh said, commenting on Byrne's statement yesterday at a public forum on "naked short selling" conducted by the North American Securities Administrators Association (NASAA).

In his statement, Byrne called naked short selling "a growing problem within the securities markets. The Depository Trust & Clearing Corp. admits that 'failures to deliver' are as high as $6 billion per day. This is an incredible number," Byrne said.

'As Mad as Hell ...'

Hawatmeh concurred and underscored Byrne's anger and frustration with the practice.

"In 1976, the late Peter Finch, as anchorman Howard Beale, won an Academy Award for his performance in 'Network' in which he made his famous 'I'm as mad as hell and I'm not going to take it any more' speech," Hawatmeh said.

"I'd like to think that Mr. Byrne and I are 21st century versions of Howard Beale, and we too are 'as mad as hell' ... about naked short selling," Hawatmeh said. "It isn't fair, it isn't legal, and it's hurting honest, hard-working investors at the expense of scoundrels."

An Illegal Practice

Naked short selling, or naked shorting, is an illegal practice of selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed, before they sell it short. However, some investors and hedge funds have taken advantage of loopholes in the rules to sell shares without making any attempt to borrow the stock.

The Securities and Exchange Commission addressed this practice two years ago, on Oct. 29, 2003, by implementing a new rule to ban naked shorting in order to protect thinly traded stocks that are vulnerable to aggressive short selling which would cause the stock price to fall.

About CirTran Corp.

Founded in 1993, CirTran Corp. (www.CirTran.com) is a premier international full-service contract manufacturer. Headquartered in Salt Lake City, its ISO 9001:2000-certified, non-captive 40,000-square-foot manufacturing facility is the largest in the Intermountain region, providing "just-in-time" inventory management techniques designed to minimize an OEM's investment in component inventories, personnel and related facilities, while reducing costs and ensuring speedy time-to-market. In 1998, CirTran acquired Racore Technology (www.racore.com), founded in 1983 and reorganized as Racore Technology Corp. in 1997. In 2004, it formed CirTran-Asia as a high-volume manufacturing arm and wholly owned subsidiary with its principal office in ShenZhen, China. CirTran-Asia operates in three primary business segments: high-volume electronics, fitness equipment and household products manufacturing, focusing on the multi-billion dollar direct response industry.

This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.