SOURCE: Dakshidin Corporation

December 21, 2007 08:00 ET

Dakshidin Signs MOU With Indian Conglomerate, JCT Limited, Enters Multi-Billion Dollar Indian Market

NEW DELHI, INDIA and LAS VEGAS, NV--(Marketwire - December 21, 2007) - Dakshidin Corporation (PINKSHEETS: DKSC) (www.dakshidin.com), producers of the world's most powerful water pumping windmill, and JCT Limited (www.jcttextiles.com/) are very pleased to jointly announce that they have signed a memorandum of understanding for distribution and manufacturing capabilities of Dakshidin's RESTEC windmills in India.

JCT Limited is one of the leading manufacturers of textiles, and the flagship company of the Thapar Group, one of the largest Indian conglomerates, with revenues of approximately 2.7 Billion for the Group for fiscal year 2006-2007. JCT Limited's diversified business interest include: Nylon Filament Yarn operations in India and overseas operations include a textile mill in Malaysia. JCT was the first to set up a Color Picture Tube plant in India (manufactured by JCT Electronics Ltd., in technical collaboration with Hitachi Ltd, Japan).

The company has a balanced model for growth concentrating not just on improving its production techniques but also being a responsible corporate citizen contributing socially towards causes such as literacy and environment, and encouraging the development of sports and sports persons. Since 1951, JCT's constant achievements have enabled them to upgrade their manufacturing processes and capacity to world standards, as a direct result of collaborations with some of biggest multinational corporations.

JCT Limited has a strong position and efficient distribution within India and abroad. In addition to the distribution of Restec's windmills, the project aims to eventually manufacture the products as well. "JCT Limited is committed to helping solve India's water crisis," stated Samir Thapar, Managing Director of the company.

Under the terms of the MOU the JV will be a 50 - 50 partnership. The first windmills are expected in India in the first quarter of 2008.

"We realize a partner like JCT Limited brings Dakshidin to a whole new level. We estimate the market in India to be in the tens of billions of dollars," states Nick Laroche, President and CEO of Dakshidin Corporation. "We are teaming up with one of the longest established and most powerful manufacturing groups in India, a country in dire need of a solution to its water crisis. A partner of this magnitude will allow the JV to be aggressive in its marketing, and to reach and exceed our goals," continued Laroche.

India is in dire need of a solution to the country's water crisis:

--  The international Irrigation Management Institute says water tables
    almost everywhere in India are falling between one and three metres each
    year.
--  The World Bank estimates that 21% of communicable diseases in India
    are related to unsafe water.
--  India's population of 1.06 billion is expected to grow by a further
    500 million in the next 50 years.
--  34% of India's children under age five are malnourished, and maternal
    deaths account for nearly 25% of the world's childbirth-related deaths due
    to unsafe water.
    

Source: World Health Organization, Water Crisis in India.

Restec's MARK 10 is the cost-effective and environmentally friendly solution for the world's water crisis and Restec's Mark 10 E is the cost-effective and environmentally friendly solution for the world's energy crisis!

About DKSC: Dakshidin Corporation, through its wholly owned subsidiary, RESTEC International Inc., produces the world's most powerful pumping windmill. Throughout the world, especially in developing countries, there is a dire need for water to fulfill basic human self-sufficiency demands. In most cases, the problem is not the lack of available water, but the cost and reliability of obtaining it. The RESTEC water pumping Windmill and the Restec Wind Turbine is the renewable, cost-effective and environmentally friendly solution for the world's water and energy crisis.

For more information please visit: www.dakshidin.com

CONTACT: ir@dakshidin.com

For information on JCT please visit: www.jctsfd.com

Forward-Looking Statements:

The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

Contact Information

  • For Investor Relations contact:
    Dakshidin Corporation
    ir@dakshidin.com
    Phone: (647) 477-8440