SEATTLE, Sept. 27, 2005 (PRIMEZONE) -- Madison Bay Holdings, Inc., (Pink Sheet:MDBY) a marketer and distributor of recreational vehicles, powerboats and leisure watercraft, announced plans to market their marine products and modify certain crafts for military use. The Company plans to begin this initiative upon receiving specifications from purchasing agents.
"Our award-winning products provide speed, low draft, durability for high seas, and the sturdy body necessary for military use. We are very excited about the opportunities that our product line-up presents for the military and the coast guard, both domestically and internationally," stated Ricardo Ruelos, Chairman of the Board and Chief Executive Officer of Madison Bay Holdings. "Concurrently, we are negotiating through American Media Group to secure the services of high ranking former naval Commanders, including a former Admiral and a recently-retired Head of the Atlantic Fleet to guide our company as advisors," added Mr. Ruelos.
Additionally, Madison Bay Holdings will expand its marketing efforts in the Florida area to its vast water sports community by partnering with American Media Group Inc. (AMG). AMG is a multifaceted broadcasting, marketing, and advertising agency with top end, high profile sports programming.
Located in Fort Lauderdale, FL, American Media Group has been involved with marketing and broadcasting such events as horse racing from Calder Race Course and Gulfstream Park, the NFL, Major League Baseball, Boxing, the Florida Boat Show, and air and sea shows which have featured watercraft from the U.S. Navy. These events draw millions of people annually for weekend events held in Miami and Fort Lauderdale Beach.
AMG will also develop a national advertising marketing campaign to combine promotional events, sports talk radio and television. "American Media Group is well respected in sports radio throughout the Sunshine State and will help our company further develop our brand," stated Mr. Ruelos.
About Madison Bay Holdings, Inc.
Madison Bay Holdings, Inc. is in the recreational vehicle and leisure product industry. The Company owns all equipment, designs and trademarks of Summit Coaches, the Recreational Vehicle (RV) division that specializes in manufacturing, marketing and selling upscale and feature-oriented RV trailers, including a flagship 38-foot RV, the "Stiletto". Madison Bay Holdings' marine division is involved in boutique leisure product distribution and owns the rights to distribute Warlock Power Boats throughout the United States and Canada. Madison Bay Holdings also provides a variety of financial, marketing, and sales consulting services to boat manufacturers, dealers, distributors, and leisure product/water sport companies.
For more information on the company and its newly appointed advisory board please visit the website www.madisonbayholdings.com.
Safe Harbor statement under the private Securities Litigation reform Act of 1995
This news release contains forward-looking statements, including statements regarding the Company's expectations about successfully selling its products and about the positive effects of the acquisition described herein. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of our products, the loss of any key personnel, our inability to introduce new products that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of potential litigation, and the possibility that competitors could develop or acquire technology that could erode the Company's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.