NVCM - Nova Communications, Ltd. (fka NCVM)

[Homer Thompson]

Nova Begins PowerSki Financing
Wednesday July 23, 5:01 am ET


TORRANCE, Calif.--(BUSINESS WIRE)--July 23, 2003--Nova Communications Ltd. (OTCBB:NCVM - News) announced today that it has begun the bridge financing process for its merger candidate PowerSki International, the designer and manufacturer of the patented PowerSki Jetboard, the World's most innovative watercraft.
To date, Nova has arranged financing for the Company with capital to begin the manufacturing process, to be followed by additional financing to move into high-volume manufacturing through Pacific Composites. PowerSki recently entered into a mass production manufacturing agreement with Pacific Composites for approximately 120-150 production line Igniter 2000 Jetboard hulls per month.

Ken Owen, Nova Communications CEO, commented, "The capital that Nova has arranged and will continue to arrange for PowerSki serves as a gateway to help begin the manufacturing process of the PowerSki Jetboard. This financing serves as a bridge to the completion of the proposed Nova/PowerSki merger, which we are in the process of completing."

Nova Communications recently announced that it has entered into a Letter of Intent to merge with PowerSki International. 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/home.html.

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.



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