SOURCE: Asgard Holdings, Inc.

December 07, 2006 09:00 ET

Asgard Holdings' Super Thermal Systems Management Group to Submit Proposal to Department of Homeland Security for Its SCAMP Firefighting Unit

Company to Team With Engineering College of Colorado State University for Proposal

ESCONDIDO, CA -- (MARKET WIRE) -- December 7, 2006 -- Asgard Holdings' (PINKSHEETS: AGHG) Super Thermal Systems Management Group, Inc (STS) announced today that it is teaming with the engineering college of Colorado State University to submit a proposal to the Department of Homeland Security (DHS) for a system to provide breathing air and microclimate cooling for first responders in chemical and biological emergencies.

The grant applied for would come under the Assistance to Firefighters Grant Program and specifically the Fire Prevention & Safety Research and Development section. The proposed system would be based on the patented STS Super Critical Air Mobility Pack (SCAMP®) that uses cryogenic air (at -300°F) to provide both breathing air and body cooling for the users. The SCAMP will be augmented with other state-of-the-art and advanced technologies to extend both the breathing lifetime of the system and the cooling capabilities.

Because the DHS solicitation requires that the applicant be an educational institution or non-profit corporation, CSU engineering will take the research lead on the program and STS will provide the development and manufacturing capability. The federal government share of the grant can be as much as $1,000,000.

Under a NASA Kennedy Space Center Small Business Innovation Research contract, SCAMP was born as a self-contained breathing apparatus and cooling system suit with applications designed for Fire Fighting, EMT, Homeland Security, Dept. of Defense, HAZMAT and NASA.

About Asgard Holdings, Inc.:

Asgard Holdings retains fifty percent interest in Super Thermal Systems Management Group, Inc (STSM). STS co-founder, Dr. Don Gier, CEO, holds a Ph.D. from Iowa State University and co-founder Dr. Hal Gier, technical director, is a graduate engineer from CalTech and holds a Ph.D. in aerospace engineering. Under a NASA Kennedy Space Center Small Business Innovation Research contract, SCAMP (Super Critical Air Mobility Pack) was born as a self-contained breathing apparatus and cooling system suit with applications designed for Fire Fighting, EMT, Homeland Security, Dept. of Defense, HAZMAT and NASA.

Asgard Holdings, Inc. is more than just an early stage venture capital firm; We provide the infrastructure and guidance. Asgard makes possible the achievement of your company's goals and facilitates your business to find its common ground. Asgard focuses on companies that are beyond incubator startups, giving our portfolio companies a strong resource of business intelligence from which to utilize.

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Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.

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