Eurospeed, Inc. (fka EGCO)

[B7$4]

"EGCO News" Euro Group Receives Initial Purchase Order for New Family of Converter Boxes

http://www.marketwatch.com/story/euro-group-receives-initial-purchase-order-for-new-family-of-converter-boxes-2010-03-23?reflink=MW_news_stmp

PORT CHESTER, N.Y., Mar 23, 2010 (GlobeNewswire via COMTEX) -- Euro Group of Companies, Inc. (Pink Sheets:EGCO) announced today that Europhone, the Company's telecommunications products and services subsidiary, has received an initial purchase order for 3,000 of its Eugro-brand converter boxes for immediate air delivery to its Authorized Distributor, Globalfon, S. A. The Eugro-brand converter boxes have been specified to support the conversion of the broadcast standard from analog to high definition digital in Greece and the Balkans.

Globalfon, S. A., headquartered in Athens, Greece, is a provider of cutting-edge technology products and services for the telecommunications industry to its marketing partners in the member states of the European Union. Its customers include: Ote; Cosmote; Wind; Macro Markt; Germanos, and Carrefour.

Euro Group of Companies, Inc. headquartered in Port Chester, New York, with offices in Shanghai, China and Athens, Greece, is an operating company focused on three distinct and separate businesses -- telecommunications products, transportation products and consumer electronics and appliances -- that management believes offer unusual opportunities for revenue and profit growth.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: From time to time, information provided by the Euro Group of Companies (including but not limited to this releases), statements made by its employees, or information included in its filings with the Securities and Exchange Commission may contain statements which are so-called "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. With respect to such forward-looking statements, Euro Group claims protection under the Private Securities Litigation Reform Act of 1995. The Company's results may differ significantly from those stated in any forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including, but not limited to, product demand, pricing, market acceptance, litigation, risks in product and technology developments, and other risk factors detailed from time to time in the Company's Securities and Exchange Commission reports including, without limitations, its Form 10-KSB and Forms 10-QSB.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Euro Group of Companies, Inc. '