TORRANCE, Calif., Dec. 21, 2007 (PRIME NEWSWIRE) -- Execute Sports Inc. ("Execute") (OTCBB:EXCS), a company engaged in the design, manufacturing and sale of water sports products, today announced that it has initiated a dealer relationship in Moscow, Russia with an initial order of 10 Sugar Sand boats. This recent booking follows orders received for 114 boats or $2.4 million from dealers that attended a dealer meeting sponsored by Execute's marketing agent, Challenger Powerboats Inc.
The new dealer relationship in Moscow, Russia was arranged by Challenger's international boat distributor that has relationships with over 140 dealers worldwide, particularly in Europe, Central America, the Far East and Middle East. Commenting on the latest orders, Geno Apicella, Execute's CEO, said, "The competition in the water-jet powered boat market is limited to a only a few participants. The market for these boats is building as consumers become increasingly aware of their lower cost of maintenance." Mr. Apicella added, "Annual boat show season begins in January and there are several dealers around the country displaying the Sugar Sand line of boats at these shows. We are confident the sales backlog for Sugar Sand boats will continue build as the boat show season progresses."
Sugar Sand boats are powered by Mercury's Sport Jet that give its boats the most torque and pulling power for water skiing and joy riding. Because they are water-jet powered, they are more fuel efficiently and, unlike outboard boats, they can ride in shallow water. Sugar Sand boats are built by North Dakota's largest boat manufacture, located in Fargo.
About Execute Sports, Inc.
Based in Torrance, California, Execute Sports, Inc. design, develops, and manufactures of water sports products including wetsuits, vests, and rash guards for the action sports industry and water-jet powered boats. The Company's brands include Execute Wetsuits, Vests, Accessories and Wakeskates for action sports and Sugar Sand water-jet boats. For more information, go to http://www.executesports.com and www.sugarsand.com. Execute branded products can be found online at retailers such as The Sports Authority, Dick's, Sport Chalet and Amazon.com. For a full listing of online retailers, please visit the company website at http://www.executesports.com.
Additional company information, press releases and general commentary can be viewed by visiting http://www.excs.msprofit.com.
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include expectations regarding the ability of the company to continue its growth and the financial performance thereafter. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include the ability to accomplish goals and strategies, anticipated revenue enhancements, general economic conditions and the level of consumer spending, and numerous other factors identified in the Company's Form 10-KSB and other filings with the Securities Exchange Commission.