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Radix Marine Inc. Signs Co-Marketing Agreement with Norsco Marine Inc.
WEDNESDAY, SEPTEMBER 17, 2003 1:24 PM
- PR Newswire

SILVERDALE, Wash., Sep 17, 2003 /PRNewswire-FirstCall via COMTEX/ -- Radix Marine Inc. (OTC Bulletin Board: RDXM.OB), a marine vessel development company specializing in homeland security and defense initiatives, today announced the signing of a Co-Marketing Agreement with marine fabrication company, Norsco Marine. Together, Radix and Norsco will jointly market a commercial product line that includes 22-25 ft. boats and 29 ft. landing craft. The two companies estimate annual sales of this craft should run between 150-200 units for each of the hull length models.

"Radix's vision, coupled with Norsco's years of boat building experience, creates a dynamic team," said Kathy Bright, Radix President and CEO. "The dual use V-berth craft can be configured for both military and commercial applications. Norsco Marine's exemplary history in the boat building industry is undisputed. Their craftsmen have years of applicable experience building aluminum watercraft as well as high performance hull forms for the military, law enforcement, marine firefighting, oil spill response, and sport applications."

Recent Norsco customers include the states of California and Alaska, as well as the United States Navy, who currently operate Norsco patrol boats to aid in anti-terrorist efforts. Norsco Marine's highly skilled team is practiced in building patrol craft to military standards, utility standards, and the special requirements of multi-mission-equipped vessels. All Norsco Marine boats are built to ABYC (American Boat & Yacht Council) standards, providing for rigid quality of construction.

This co-marketing agreement pertains specifically to manned craft. Radix Marine is also involved with the development of unmanned surface vehicles (USVs), small remotely controlled unmanned boats that range in size for 6 to 50 feet. These craft can be utilized in numerous security applications ranging from surveillance to mine detection. Through its subsidiary, International Maritime Platforms International (IMPII), Radix Marine is currently participating with the United States Government in an Advanced Concept Technical Demonstration for USVs. IMPII is performing on such a contract with the U.S. Navy in partnership with two of the nation's leading U.S. defense contractors.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Additional factors that could materially affect these forward-looking statements include, among other things, (1) general economic and business conditions; (2) the success of our restructuring; (3) our ability to raise additional capital through the offering of equity securities; (4) competition; (5) our ability to continue to build strategic relationships within the marine industry, particularly within the domestic and international high-speed USV market; (6) required accounting changes; (7) our relationship with the U.S. Government; (8) approval of our products by the U.S. Navy; (9) national security, including acts of domestic and international terrorism, and (10) other factors over which we have little or no control.

About Radix Marine

Headquartered in Silverdale, Wash., Radix Marine, Inc. specializes in homeland defense initiatives within the marine industry. The company's focus is on opportunities with the U.S. Navy, Coast Guard, and Marine Corps, as well as the international market for USVs. Radix Marine is publicly traded Over The Counter Bulletin Board (OTCBB). For more information, please contact Radix Marine at 9119 Ridgetop Blvd., Suite 260, Silverdale, Wash. 98383; telephone [phone]; fax [phone].

SOURCE Radix Marine Inc.

David Cochran of Cochran Edwards and Partners, mobile,
[phone], or Shareholder Information Line, [phone], or
[e-mail], for Radix Marine Inc.