MIAMI , Nov. 10, 2003 (PRIMEZONE) -- American Ammunition, Inc. (OTCBB:AAMI) announced today that it shipped 600,000 rounds of the 800,000 round export order from Costa Rica previously announced June 18, 2003. AAMI received approval for such shipment from the U.S. Department of State on June 30, 2003. The balance of the export order is to be shipped at an indefinite time in the near future.
"AAMI is now at a point where it has acquired sufficient raw materials and has trained and qualified labor to complete orders and ship product as contracted. Our recent focus on export sales is now shifting to order delivery. Delivery as well as sales is the next step in our continued operations designated to enable the Company to grow," said Andres Fernandez, President and CEO of AAMI.
About American Ammunition, Inc.
AAMI is an autonomous manufacturer of ammunition, with the technology and equipment to take advantage of the growing market. It has an excellent reputation within the industry. The ammunition industry has experienced a 28% average increase in revenues annually between 1991 through 1998, and the trend is expected to continue through the year 2005 and beyond. For further product information, please call 1-305-835-7400 or visit the website at: http://www.a-merc.com For Investor Relations information, please call: 1-305-446-4800 or e-mail: CISintr@netscape.net.
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.