TUCSON, Ariz., Nov. 20, 2003 (PRIMEZONE) -- Renegade Venture (NEV.) Corporation (OTCBB:RDVN) today announced that it will oversee the completion of a "C" check on a Boeing 747SP owned by a high-visibility client that wishes to remain anonymous until the work is complete and the aircraft is ready for departure. Renegade plans to return the aircraft to service in six to eight weeks' time. The estimated total value of this contract is approximately $1,000,000, all of which Renegade expects to book in the 4th quarter.
John Sawyer, Renegade President, said, "The timing of this large project, which was unexpected and must be completed in a relatively short timeframe, provides a strong note on which to end our 2003 fiscal year. This is a very exciting project for Renegade, and we are proud to be able to respond on short notice to the special needs of this important international client. We look forward to being able to disclose the identity of this prestigious client and the specifics of this transaction to the public once the aircraft is delivered."
About Renegade Venture Inc.
Through its Hamilton Aerospace subsidiary, Renegade provides maintenance, engineering and modification 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, and shareholders and other interested persons are urged to join. Members receive the Renegade Aviation Newsletter, email alerts of press releases and SEC filings, and other great benefits. Membership is absolutely free and it only takes a couple of minutes to join at www.renegadeventurecorp.com/register.htm. 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.