MicroCars, Ltd. To Begin Promotion with Seylan Bank To Sell Cars in Sri Lanka.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Centrex, Inc. (PinkSheets:CTXI) today announced that MicroCars, Ltd., a Sri Lankan company, has signed a marketing agreement with Seylan Bank, one of the largest banks in Sri Lanka Sri Lanka (srē läng`kə) [Sinhalese,=resplendent land], formerly Ceylon, ancient Taprobane, officially Democratic Socialist Republic of Sri Lanka, island republic (2005 est. pop. , to promote sales of MicroCars to new home buyers. Called the "Executive Super Loan Package," this promotion by Seylan Bank allows buyers to acquire a new home and a new car under the same mortgage. Seylan Bank estimates that they expect to receive as many as fifteen approved loan applications per month. Established in 1995, MicroCars, Ltd. is the only automobile manufacturer in Sri Lanka, featuring a line that includes a sedan Sedan (sədäN`), town (1990 pop. 22,407), Ardennes dept., NE France, on the Meuse River. A noted textile center since the 16th cent., Sedan also has metal and brewing industries. The town became part of French crown lands in 1642. , a coupe, a minivan and a four wheel drive pickup truck. Created by Dr. Lawrence Perera, previously an executive engineer at Volkswagen in Wolfsburg Germany, MicroCars offers a cost effective system for assembling quality cars using local labor and available local materials. Centrex recently signed an agreement to represent the MicroCars manufacturing system to other nations seeking to establish a locally run and operated car assembly company. The agreement with MicroCars also gives Centrex an option to acquire up to 40% interest in MicroCars. Executives of MicroCars and Centrex are meeting in 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. the week of September 24, 2006 in order to finalize these aspects of their agreement. Stated Jeffrey Flannery, 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 Centrex, Inc., "This promotion demonstrates Seylan Bank's confidence in MicroCars as well as the Bank's recognition that the attractive, well-built MicroCar A microcar is an extremely small automobile. Various definitions are used, including "less than 3 metres in length" and "less than 85 cubic feet/2400 litres interior volume". Typically, microcars seat only the driver and a single passenger, and many have only three wheels. is an incentive to persuade new home buyers to action. Most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially for Centrex, this promotion is a strong selling point selling point n. An aspect of a product or service that is stressed in advertising or marketing. Noun 1. selling point - a characteristic of something that is up for sale that makes it attractive to potential customers in our efforts to market the MicroCars system to other countries - it is a proven way to promote and market a major item in any developing economy." More information on the Centrex, Inc. can be found at www.centrexglobal.com. Information on MicroCars, Ltd. can be found at www.microcars.lk. Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of CTXI are "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 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. ), ongoing business strategies or prospects, and possible future CTXI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and CTXI has no specific intention to update these statements. |
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