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LTDI News Latitude Industries, Inc. Acquisition Update
Wednesday, July 16, 2008 8:03 AM

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News for 'LTDI' - (Latitude Industries, Inc. Acquisition Update)


MIAMI, FL, Jul 16, 2008 (MARKET WIRE via COMTEX) -- Latitude Industries, Inc.
(PINKSHEETS: LTDI), a manufacturer of high-performance, center console
powerboats, announces today that it is making progress on the possible buyout
from an International group.

On or about June 11th, 2008 Latitude Industries announced a possible buyout and
many speculations in regards to this possible buyout have come to our attention.
It is true that we have been approached by an International conglomerate and at
this point in time we can report that we are making progress.

In regards to the International Group, all we can disclose at this moment is
that they are headquartered in Ningbo, China. This established firm has over a
thousand employees and is housed in more than 80,000 square meters of
manufacturing facility.

"One thing I would like to express to all of our share holders is that with or
without a buyout, I will not back out, no matter what anyone speculates or what
the market dictates. I'm committed to this company, to this industry and to our
shareholders," said Orlando Hernandez COO Latitude Powerboats.

About Latitude Industries

Latitude Industries, Inc. was founded by the Hernandez family in December of
1995 under Stealth Marine Inc.; the company built more than 30 boats between
1995 and 1998. In 1998, a joint venture between Midnight Express and Navigator
Powerboats, a subsidiary of Latitude Industries Inc., was founded to build the
39' and the 37' Wide Body Midnight Express. Since 1998 to the present, we have
built more than 200 boats.

This venture led to a government contract to build more than 40 Midnight Express
39' Center Consoles for the U.S. Customs and Homeland Security to patrol the
coast of the United States, the Caribbean, and the Gulf of Mexico.

Forward-Looking Statements

This release contains forward-looking statements, including, without limitation,
statements concerning our business and possible or assumed future results of
operations. Our actual results could differ materially from those anticipated in
the forward-looking statements for many reasons including: our ability to
continue as a going concern, adverse economic changes affecting markets we
serve; competition in our markets and industry segments; our timing and the
profitability of entering new markets; greater than expected costs, customer
acceptance of our products or difficulties related to our integration of the
businesses we may acquire; and other risks and uncertainties as may be detailed
from time to time in our public announcements and SEC filings. Although we
believe the expectations reflected in the forward-looking statements are
reasonable, they relate only to events as of the date on which the statements
are made, and our future results, levels of activity, performance or
achievements may not meet these expectations. We do not intend to update any of
the forward-looking statements after the date of this document to conform these
statements to actual results or to changes in our expectations, except as
required by law.

For more information about the company, please feel free to send an email to
[e-mail]





Contact:

Latitude Industries, Inc.

[e-mail]





SOURCE: Latitude Industries, Inc.




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SUBJECT CODE: Transportation and Logistics:Maritime

Aerospace and Defense:Marinecraft

Source: Comtex Wall Street News