CLEVELAND, April 5, 2005 (PRIMEZONE) -- AuGRID Corporation (Pink Sheets:AGRI) has submitted and received from The United States Department of State's Authentication Services Office stamped approval of documents necessary to initiate it's business of electronic product distribution in Dubai, UAE.
"Although it has taken longer than we initially had hoped, our commitment to distribute plasmas and other electronic devices in the UAE, is being followed through," stated MJ Shaheed, President and CEO of AuGRID Corporation. "The expanding open economy, large annual trade surplus and increasing standard of living in the UAE fuels a desire for high technology consumer goods like our Optipure Plasmas." "The opening of the AuGRID Dubai office and initiating product distribution is just the beginning of AuGRID's commitment under the new restructuring," said Shaheed.
AuGRID Corporation and its subsidiaries are technology based organizations.
FORWARD LOOKING STATEMENT: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AuGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AuGRID Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to AuGRID Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AuGRID Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AuGRID Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.