TUCSON, Ariz., Dec. 10, 2003 (PRIMEZONE) -- Renegade Venture (NEV.) Corporation (OTCBB:RDVN) today announced that its wholly owned subsidiary, Hamilton Aerospace Technologies, signed maintenance and service agreements with a new customer, UMI International. This new project involves maintenance checks, corrosion prevention control program task cards, Airworthiness Directives, and other return-to-service work on two cargo configured Boeing 727 aircraft. The estimated value of these maintenance contracts is approximately $500,000, which Hamilton Aerospace expects to complete and book in the 4th quarter. UMI International is an aircraft leasing company specializing in leasing aircraft into South America.
John Sawyer, Renegade and Hamilton Aerospace President, stated, "UMI International is the latest addition to our rapidly growing customer base. Based on successful performance of this first contract, we have every expectation that Hamilton Aerospace will have the opportunity to meet other return-to-service and heavy maintenance requirements upcoming for UMI's aircraft portfolio."
In addition to this new work contract, Hamilton Aerospace is proud to announce that its president, John Sawyer, was recognized by the National Republican Congressional Committee Business Advisory Council as Businessman of the Year, representing the state of Arizona.
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.