TUCSON, Ariz., Jan. 22, 2004 (PRIMEZONE) -- Renegade Venture (NEV.) Corporation (OTCBB:RDVN) today announced that its wholly owned subsidiary, Hamilton Aerospace Technologies, has signed a General Terms Agreement with Falcon Air Express to perform all scheduled maintenance for Falcon Air Express' entire fleet of aircraft during 2004. The total value of these maintenance checks, including individual maintenance contracts that Hamilton Aerospace has signed with Falcon so far this year, is projected to be approximately $6,000,000.
John Sawyer, Renegade and Hamilton President, stated, "Hamilton Aerospace has been Falcon Air Express' principle maintenance provider for the last two years. This means that we are very familiar with Falcon's maintenance program and their fleet of aircraft. Also, when Falcon inputs an aircraft for maintenance, most likely Hamilton Aerospace performed the last check. These elements all combine to create a win-win situation wherein Hamilton can meet Falcon Air Express' maintenance requirements in a very efficient manner."
President of Falcon Air Express, Emilio Dirube, said, "In the airline industry, quality maintenance delivered on-time is of paramount importance. Signing this General Terms Agreement is the easiest decision I've made this year, since Hamilton Aerospace has demonstrated over and over again its ability to provide our company with quality, on-time aircraft maintenance services in a cost-effective manner."
About Renegade Venture
Through its Hamilton Aerospace subsidiary, Renegade provides maintenance, repair and overhaul (MRO) services for large passenger jet aircraft to scheduled and charter airlines and aviation leasing companies. Hamilton Aerospace holds a Federal Aviation Administration (FAA) Part 145 Air Agency Certificate, which allows it to perform such services. Hamilton operates from facilities comprising about 21 acres located at Tucson International Airport. These facilities include hangars, workshops and other buildings. Notable Hamilton customers include Jetran International, United Parcel Service, a Boeing Company joint venture, Goodrich Corporation, DHL Worldwide Express, Pegasus Aviation, Ryan International Air, Space World and Falcon Air Express.
Renegade's member website is located at www.renegadeventurecorp.com. The Hamilton Aerospace website is located at www.hamaerotech.com.
Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations thereunder. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the airline industry, demand for Hamilton Aerospace's services, competitive pricing pressures, and the availability of necessary financing. In addition, other risks are detailed in Renegade's Form 10-KSB filed on April 15, 2003. These statements speak only as of above date, and Renegade disclaims any intent or obligation to update them.