SEATTLE, Oct. 3, 2005 (PRIMEZONE) -- Madison Bay Holdings, Inc. (Pink Sheets:MDBY), a manufacturer and distributor of recreational vehicles, powerboats and leisure watercraft, announced today that Exosphere Aircraft Company, Inc. has placed an order for four "Stiletto" recreational vehicles through its Summit Coaches division. Madison Bay Holdings will begin manufacturing the trailers with completion scheduled for spring 2006.
The order was for a combination of the Stiletto "Special Event Toy Hauler" design of the "Stiletto", a newly engineered version of the state-of-the-art RV recently added to the Summit product mix. The Stiletto Special Event model has been designed in conjunction with Exosphere to market to dealers and customers for the transport of light aircraft, experimental aircraft, motorcycles, off-road vehicles and classic cars to special events and expos. The company plans to market this new RV to the growing baby boomer generation that is responsible for the spike in demand for high-end leisure products.
Ricardo Ruelos, chairman of the board and CEO of Madison Bay Holdings, commented, "We are very excited to announce that Madison Bay's first purchase order of the 'Stiletto' comes from one of our newest business partners, Exosphere Aircraft Company, Inc. The 'Special Event Toy Hauler' model will broaden our product offerings and increase revenue potential for both the Company and our dealer network. This sale is a stand-alone transaction that will benefit both of our companies. Madison Bay will be customizing the trailers to accommodate the specific needs of our new customer and we are confident that interest in this new RV design will increase upon the completion of this initial transaction."
The Stiletto's distinctive engineering and design sets it apart from other products in the RV marketplace. The Stiletto's ability to be lowered to ground level, leaving only a four-inch step or ramp into the trailer makes it more accessible than traditional trailers that have four or five steps. Also, once raised to its 18 inch traveling level, the air system greatly increases the suspension, making for a much smoother ride than traditional trailers. With the higher cost of fuel, the aerodynamic design appeals to the cost conscious consumer.
Another distinctive element of the Stiletto trailer is the method by which it is manufactured. By fitting a fiberglass top and bottom together, the way a boat is made, the structural integrity of the unit is improved and roof leakage is eliminated since there are no seams. This process also increases the insulation value of the Stiletto trailer providing a more energy efficient vehicle.
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 Web site 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.