SEATTLE, Sept. 29, 2005 (PRIMEZONE) -- Madison Bay Holdings, Inc. (Pink Sheets:MDBY), a marketer and distributor of Recreational Vehicles, Powerboats and Leisure Watercraft, announced today that the Company has entered into a joint marketing agreement with CyberAds, Inc., an extreme sports lifestyle marketing company based in Torrance, CA. Per the agreement, Madison Bay will work with CyberAds to develop a co-marketing strategy for each other's exclusive product lines. The Company will have direct involvement in CyberAds' business operations ranging from commercial inventory establishment, equity and working capital financing to overall development and consultation.
Ricardo Ruelos, Chief Executive Officer of Madison Bay Holdings, commented, "This joint marketing agreement will highlight the synergies that exist between our companies and should mutually benefit the sales efforts of our product lines. We are looking forward to working with CyberAds to expand both companies' distribution networks in the recreational vehicle and marine industries. I am confident that this is the beginning of a very productive and long-lasting business relationship."
"We are anxious to work with the management team at MBH to develop our position in the burgeoning RV and leisure product market," stated Jeff Criswell, President of CyberAds. "MBH and specifically Ricardo Ruelos, its CEO, has a wealth of experience and understanding of the water sports and leisure craft segment and as we develop and expand into off-road industries, MBH and Ricardo will add to our depth and abilities to increase the distribution of the products we secure. Additionally, we believe that CyberAds' experience in network sales development and understanding of extreme sports lifestyle marketing will assist MBH in their efforts to distribute their watercraft and leisure sports products."
CyberAds, Inc. is a sales and marketing company that specializes in delivering sales to manufacturers of extreme sports products. Success of the company evolves from an understanding of the relationship between extreme sports, the products that facilitate them and the lifestyles of the people that partake in radical physical activities. CyberAds is a service company with management experience in business and strategic planning, mergers and acquisitions, marketing and sales network development. For more information, please visit www.cyberadsinc.com.
About Madison Bay Holdings, Inc.
Madison Bay Holdings, Inc. is in the recreational vehicle and leisure product industry. The Company owns all equipment, designs and trademarks of Summit Coaches, the Recreational Vehicle (RV) division that specializes in manufacturing, marketing and selling upscale and feature-oriented RV trailers, including a flagship 38-foot RV, The "Stiletto". Madison Bay Holdings' marine division is involved in boutique leisure product distribution and owns the rights to distribute Warlock Power Boats throughout the United States and Canada. Madison Bay Holdings also provides a variety of financial, marketing, and sales consulting services to boat manufacturers, dealers, distributors, and leisure product/water sport companies.
For more information on the company and its newly appointed advisory board please visit the website www.madisonbayholdings.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, including statements regarding the Company's expectations about successfully selling its products and about the positive effects of the acquisition described herein. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of our products, the loss of any key personnel, our inability to introduce new products that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of potential litigation, and the possibility that competitors could develop or acquire technology that could erode the Company's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.