SEATTLE, Oct. 5, 2005 (PRIMEZONE) -- Madison Bay Holdings, Inc. (Pink Sheets:MDBY) announced today that Summit Coaches, the Recreation Vehicle division of Madison Bay Holdings, has published the new product offerings and Dealer Agreements for the 2006 model year. The 2006 model line up includes four models as the existing product line has been expanded from one "Executive" model of the Stiletto Fifth Wheel coach to include two additional models with three optional floor plans.
The new 38 ft. Stiletto "Resort" model will offer up to three optional custom extensions or "sliders" to add a significant amount of extra floor space when the coach is in use at a resort, RV park, special event or other recreational or commercial sites. Additionally, Summit Coaches has added two models of the Special Event "Toy Hauler" to include a conventional "Toy Hauler" and a combination Resort "Toy Hauler" that will feature the ability to transport "toys" in the rear and have entertainment and sleeping quarters in the front. "Toy Haulers" are an extremely popular and growing segment of the RV industry for customers and baby boomer to transport a variety of "toys" such as motorcycles, off road vehicles, boats, race cars and classic cars.
Ricardo Ruelos, Chairman of the Board and CEO of Madison Bay Holdings, stated, "Expanding our product line by utilizing variations of our existing molds and equipment is a proven strategy that we have utilized in previous boat ventures and will increase sales and profit margins as an effective utilization of capital investments. The expansion of the Summit and Stiletto product line will definitely provide more options for our customers to enjoy recreational activities as well as provide additional revenue opportunities for our dealers. Over $2,000,000 has been spent on the engineering and because of the exceptional design and construction features of the Stiletto, we can continue to successfully expand this product line to guarantee increased sales through our dealer network."
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.