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PSPF NEWS
Power Sports Factory Announces Monthly Shareholder Update and Progress in Its Bike Sharing Division
PHILADELPHIA, Feb. 1, 2010 (GLOBE NEWSWIRE) -- Power Sports Factory, Inc. (OTCBB:PSPF - News), the exclusive importer and distributor of fuel efficient motorbikes and scooters under Andretti and Benelli brands and the only publicly traded Bike Sharing Company, announces that it will release a monthly shareholder update designed to keep the market informed of the significant business progress of PSF along with major corporate developments.

“Our Bike Sharing Division has achieved many major milestones over the last 6 months and will be the focus of this initial shareholder update,” said Power Sports Factory’s President Steve Rubakh. ”The response to our Solar Powered Bike Sharing Solution has been phenomenal and therefore we are currently bidding on several multi-million dollar projects.”

PSF announced its participation in multiple bids (RFP) and proposals for Bike Sharing Services in North America. These projects are located in CO, MN, OH, PA and FL. The total combined value of these RFP’s and proposals exceeds $6 million. Additionally, Power Sports Factory, along with its consulting partner, initiated proposals for International Bike Sharing Operations in Turkey and Egypt, valued at over $2.5 million.

Power Sports Factory’s President Steve Rubakh states, "In addition to the significant progress on potential sales, an all-new and upgraded Bike Sharing Kiosk has been developed by our manufacturing partner. It now features the world’s only dual-release option to rent bikes: cell phone or smart card – powered by solar energy. This technological advancement makes our system more competitive by simplifying the bike renting & returning process and significantly improves revenue generation for the system."

About Power Sports Factory, Inc:

Power Sports Factory, Inc. (OTCBB:PSPF - News) imports, markets and distributes motorbikes principally under the “Andretti”, “Benelli” and “Yamati” brands. Power Sports Factory is the only company with motorbikes endorsed by racing legend Mario Andretti. The Andretti line combines top performance, competitive pricing and cutting-edge European design from Benelli, the designer of some of the best motorcycles and motorbikes in the world. The Andretti & Benelli Product Line is known for its high-quality construction and superior styling, making it the smart choice for consumers. With today’s volatile price of fuel, motorbikes are a smart alternative for people looking for superb gas mileage. For additional information, please visit www.powersportsfactory.com and www.sec.gov.

The Power Sports Factory, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6670

Bike Share Source™ is the Company’s recently launched alternative transportation division. This new division markets Bike Sharing Systems to municipalities and transit agencies, property managers and real estate developers, colleges and universities, military institutions, hotels, parks and other transportation related businesses. Additional information is available at www.bikesharesource.com.

"The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Factors that may cause actual results to differ materially from those expressed or implied by its forward-looking statements include, but are not limited to, Power Sports Factory's limited operating history and business development associated with being a growth stage company; its dependence on key personnel; its ability to execute its business strategy; the intense competition it faces; risks associated with disruptions of its international supply chain; its exposure to product liability claims resulting from the use of its products; general economic and capital market conditions; its ability to raise additional capital; as well as those risks described under the heading "Risk Factors" of Power Sports Factory's Form 10-K, filed with the Securities and Exchange Commission on April 15, 2009. Although Power Sports Factory believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct."