BOULDER, Colo., March 1, 2005 (PRIMEZONE) -- CapSource Financial, Inc. (OTCBB:CPSO) announced today that it has entered into a agreement with Hyundai Translead to extend its contract to sell and distribute Hyundai trailers and parts in Mexico. Under the terms of the new contact, Hyundai grants CapSource's subsidiary RESALTA the exclusive right to sell Hyundai trailers in Mexico. In addition, the agreement provides a credit facility to RESALTA to facilitate RESALTA's inventory of Hyundai trailers in Mexico. The new agreement extends the relationship between the firms through November 2007.
Fred Boethling, President and CEO of CapSource said, "The contract extension ensures that RESALTA will continue to offer the premier truck trailer in the Mexican market." Boethling further stated, "We value our relationship with Hyundai and look forward to continued success in the Mexican market."
Hyundai, the largest company in Korea, is engaged in insurance, shipbuilding, engineering and construction, electronics and automotive as well as other businesses. Hyundai owns a maquiladora plant across the border from San Diego, California, in Tijuana, Baja California, Mexico. The facility produces van trailers, refrigerated trailers known as reefers, container chassis and domestic and refrigerated containers for the U.S. market. Hyundai's manufacturing process and quality assurance system have been internationally recognized by achieving ISO 9002 certification.
About CapSource Financial, Inc.
CapSource Financial, Inc. was incorporated in 1996 to take advantage of the North American Free Trade Agreement (NAFTA) and the increased economic activity that NAFTA triggered when the world's largest free trade area was created by linking 406 million people in Mexico, the U.S. and Canada producing more than $11 trillion worth of goods and services. Mexico is now the United States' second-largest trading partner with an average of $650 million in goods crossing the border each day. U.S. trade with Mexico has increased nearly 500 percent -- from $48 billion to $239 billion since the passage of NAFTA. The vast majority of this trade moves by truck.
CapSource owns and manages a lease/rental fleet of over-the-road truck trailers and related equipment through its REMEX subsidiary and sells trailers, parts and service through it RESALTA subsidiary, both based in Mexico City. CapSource's common stock trades on the electronic bulletin board under the symbol CPSO.