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[Zephyr]

CIRT news - CirTran Signs Letter of Intent Expanding Market Presence to Asia Establishing New Division -- CirTran-Asia, Inc.
6/3/2004 10:02:33 AM




SALT LAKE CITY, UT, Jun. 03, 2004 (MARKET WIRE via COMTEX) -- CirTran Corp. (CIRT) , a full-service contract electronics manufacturer of printed circuit board assemblies, cables and harnesses, today announced it has signed a Letter of Intent with Michael Casey Enterprises, HIPMG, Inc. and UKing System Industry. Under the agreement, CirTran's new marketing partners exclusively manage all manufacturing operations for various consumer market products, establishing a new wholly-owned subsidiary, CirTran-Asia, Inc., which will target the vast, hi-volume, Asian, manufacturing market.


As the parent company, CirTran Corp. is currently in the process of establishing a dedicated satellite office and is interviewing seasoned executives with the needed expertise to build this division. Having proven the value and reliability of its core products, the parent entity has chosen to expand into previously untapped product lines. CirTran-Asia, Inc. will pursue manufacturing relationships beyond printed circuit board assemblies, cables, harnesses and injection molding systems by establishing complete "box-build" or "turn-key" relationships in the electronics, retail and direct consumer markets.

Iehab J. Hawatmeh, President and CEO of CirTran Corporation, commented, "We have been preparing for more than a year for this strategic move into the Asian market. This new relationship will elevate CirTran to an International Contract Manufacturer status of multiple products in almost every industry and will, in short order, allow us to target several profitable, multi-million dollar contracts. Our new clients are leading manufacturing and marketing firms in the retail and direct consumer markets."

Trevor M. Saliba, Executive President of Worldwide Business Development of CirTran Corporation, commented, "The opportunities in the electronics, retail and direct consumer markets are limitless. We are very close at closing some very significant relationships that will bring CirTran to record revenue levels for 2004 and immediately generate new multi-million dollar contract wins before the end of this second quarter."