NVCM - Nova Communications, Ltd. (fka NCVM)

[ukie]

PowerSki International Signs Mass Manufacturing Contract

Wednesday, July 09, 2003 09:01 ET

TORRANCE, Calif., Jul 9, 2003 (BUSINESS WIRE) -- Nova Communications Ltd. (OTCBB:NCVM) announced today that its merger candidate, PowerSki International Corp., signed a mass production manufacturing agreement with Pacific Composites, based in Santa Ana, Calif., for mass production of the Igniter 2000 Jetboard hull.

The manufacturing agreement is for approximately 120-150 production line hulls per month with the opportunity to double production by implementing additional workforces. The material and techniques that Pacific Composites will use to produce hulls will be approximately 20-30 lbs. lighter than the existing hand laid-up resin hulls.

Ken Owen, Nova Communications CEO, commented, "This new manufacturer and production process will move PowerSki from low rate production to high rate production lowering cost. Thanks to the business product sponsorships of Hewlett Packard Corp., Parametric Technology Corporation, and Capture 3D Corp., this extreme team cooperation is helping PowerSki move into mass production."

Nova Communications recently announced that it has entered into a Letter of Intent to merge with PowerSki International, the designer and manufacturer of the patented PowerSki Jetboard, the World's most innovative watercraft. PowerSki International also manufactures its patented SuperTorqueXT marine engine.

To learn more about the World's most innovative watercraft and to view behind the scenes footage of the Jetboard in action for Fox Sports' 54321 sports program, please visit the Company's web site at http://www.powerski.com.

Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this news release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changed economic or business conditions, the impact of competition, the success of existing and new product releases, the management of our growth, other risk factors inherent in the telecommunications industry, and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.

Nova Communications has and continues to institute changes to its strategies, operations and processes to address these risk factors and to mitigate their impact on Nova Communications' results of operations and financial condition. However, no assurances can be given that Nova Communications will be successful in these efforts.

SOURCE: Nova Communications Ltd.


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