Medina International Holdings (MIHI) Enters Into Exclusive Department of Defense Distributor Agreement With Kelly Space & Technology
Medina International Holdings, Inc. (OTCBB: MIHI)
Upcoming Maritime Security Expo Provides Opportunity to Introduce Medina’s New Partnership
SAN BERNARDINO, CA–(MARKET WIRE)–Aug 29, 2007 — Medina International Holdings, Inc. (OTC BB:MIHI.OB – News) announced today that it has entered into an agreement on August 22, 2007 with Kelly Space & Technology, Inc., a California Corporation, to be the company’s exclusive distributor for watercraft sales to the United States Department of Defense (DOD). The Agreement also provides Kelly Space & Technology, Inc. with a non-exclusive distributorship for other, non-DOD customers, not limited to the boundaries of the United States. The agreement between the company and Kelly Space & Technology, Inc. will be effective for a period of five (5) years from the date of the signed agreement with an option for Kelly Space & Technology, Inc. to renew the agreement for an additional five (5) year period.
Daniel Medina, CEO of Medina International Holdings, Inc., stated, “This is the most significant relationship we have achieved to date for our company. Kelly Space is a DOD contractor with substantial experience and acumen in dealing with Government contracting.” He added, “We believe our boats could fill an important niche in the defense market, and by forming a partnership with Kelly Space as our exclusive DOD distributor and sales organization we have the opportunity to penetrate this substantial and important market.”
“Kelly Space is very pleased in its association with Medina International Holdings, Inc.,” said Michael J. Gallo, President and CEO of Kelly Space & Technology, Inc. “Medina’s innovations in the specialty watercraft market open tremendous opportunity for both commercial and government marine operations. We are also excited about the potential to incorporate some of our technologies to create superior, value-added benefits to our customers.”
Mr. Medina added, “We will be exhibiting at the Maritime Security Expo 2007, held at the Jacob Javits Convention Center in New York City on November 27th and 28th. This will be an exceptional opportunity to showcase our product and promote our new distribution relationship with Kelly Space. According to the Expo’s website, ‘The Safe Port Act and other recent legislation guarantees over $5 billion in maritime/port security expenditures over the next five years,’ and we intend to aggressively pursue sales into this channel.”
More information on the Expo is available at: www.maritimesecurityexpo.com.
About Kelly Space & Technology, Inc.
Kelly Space & Technology, Inc. (KST) is a privately held commercial aerospace systems and technology development company with a vision to create and commercialize technologies that will open space to large-scale commercial development and apply these space technologies to beneficial use on earth. KST has established the Aerospace Research & Development Center (ARDC) at the San Bernardino International Airport to mature and deploy critical technologies that provide advancements in aviation, space, homeland security, energy generation and related technologies for both military and commercial system applications. KST also operates the “Jet & Rocket Engine Test Site” (JRETS) on the former Norton Air Force Base.
More information on Kelly Space & Technology, Inc. is available at: www.kellyspace.com.
About Medina International Holdings, Inc.
Medina International Holdings, Inc. produces commercial fire, rescue, police and patrol boats utilizing the highest design and performance standards. The company’s products combine safety, power, handling and stability with a proprietary hull design and equipment features that address specific niche markets.
With thousands of miles of waterways in the United States alone, opportunities for fire, search and rescue, and patrol boats are abundant. The potential addressable global market for these types of watercraft is in the billions of dollars, which presents exponential potential growth opportunities for the company.
For more information, visit http://www.medinaih.com and http://www.medinamarine.com.
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements regarding potential sales, the success of the company’s business, as well as statements that include the word “believe” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Medina International Holdings, Inc. to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Medina’s Annual Report on Form 10-KSB for the currently fiscal year and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, inability to timely develop products or services, inability to deliver products or services when ordered, inability of potential customers to pay for ordered products or services, and political and economic risks inherent in domestic and international trade.
Contact:
CONTACTS:
Medina International Holdings, Inc.
Daniel Medina
President
(909) 522-4414
Communications:
Cinapsys, Inc.
Mark Moline
(760) 458-4899
Source: Medina International Holdings, Inc.
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