VANCOUVER, British Columbia, May 26, 2006 (PRIMEZONE) -- Wataire Industries Inc. (Pink Sheets:WTAF) announces that Global Wataire Inc. (OTCBB:GWTE) has received a US$614,476 Letter of Intent from Australasia Pty. Ltd.
Australasia Pty. Ltd. has committed to purchase one C1-5000 Water Generator that has the capacity to produce 5,000 litres of drinking water on a daily basis. This unit will be shipped to a distributor in Pakistan. As well, two C1-2500 Water Generators, capacity 2500 litres per day, will be individually shipped to distributors in India and Pakistan.
In addition to these large capacity commercial units, Australasia Pty. Ltd. will also ship two container loads of the W11-4010 household units to separate distributors in Pakistan and India. Each container holds 288 household units.
Phil Fraser, Chairman, Wataire Industries stated that, "Finding a dynamic marketing partner like Global Wataire will allow our company to concentrate on product development, manufacturing excellence and constant innovation. We believe our success will be based on becoming the world leader in atmospheric water generation. It's clear that new ways of providing safe and readily available drinking water are necessary and Wataire Industries intends to be a major provider of those solutions."
About Wataire
Wataire was formed by a team of veteran executives with extensive experience in developing and bringing innovative products to market. The team is comprised of leaders and advisors who have extensive backgrounds in business administration, project management, manufacturing, international distribution, sales, and marketing. Wataire is committed to providing an array of innovative solutions that will help prevent fresh water shortages.
The Wataire Industries Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2286
On behalf of the Board Nand Shankar Vice President
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.