SOURCE: Northstar Electronics, Inc.

NorthStar Electronics, Inc.

November 02, 2009 12:41 ET

Northstar Electronics, Inc. (NEIK) CEO Provides Update and Future View

VANCOUVER, BC--(Marketwire - November 2, 2009) - Northstar Electronics, Inc.'s (OTCBB: NEIK) CEO, Dr. Wilson Russell, gives an update of recent company successes, expected near term contracts and a future view.

The key recent successes have been:

--  Winning a US$2.5M contract from L-3 Communications to manufacture
    control consoles for navy frigates.
--  Securing an expandable, US$800,000 Line of Credit, to increase
    production throughput on its Lockheed Martin Aeronautics, P-3 aircraft
    parts contract.
--  Achieving AS9100 certification, a 'gold' standard in aerospace
    manufacturing.
--  Expansion of the company's manufacturing affiliate base into Western
    Canada.
    

The key expected near term contracts are:

--  Multi-million dollar add-on to the company's P-3 contract with
    Lockheed Martin.
--  Bombardier contract valued at several million dollars to manufacture
    airplane door sets.
--  Multi-million dollar contract to manufacture parts for Lockheed
    Martin's advanced C130J 'Hercules' transport airplane.
--  Potential opportunities with Boeing and Raytheon.
    
    This view of the future is based on what the Company sees as the
    current crossroads of significant opportunities that could propel it to
    a much larger market cap, corresponding stock price and, within 2-3
    years, qualify for a major stock listing.
    

For the full update, go to www.northstarelectronics.com.

For information contact Rich Kaiser, YES INTERNATIONAL, Investor Relations, yes@yesinternational.com, #800-631-8127 and/or Ms. Beverly Jedynak, Martin Janis & Co, Inc., b.jedynak-janispr@att.net, (312) 943-1000 Ext. 12.

About Northstar Electronics, Inc.

Northstar Electronics, through its subsidiaries, Northstar Technical Inc. and Northstar Network Ltd. provides electronics products to the marine industry and provides engineering, prototyping and production services to the defence and Homeland Security industries. www.northstarelectronics.com

Safe Harbor: Included in this release are forward-looking statements within the meaning of Section 27A of the Securities Act 1993, as amended, and Section 21E of the Securities Exchange Act 1934, as amended, and is subject to safe harbor created by those sections. Although Company believes such expectations reflected in forward-looking statements are reasonable, it can give no assurance that expectations reflected in forward-looking statements will prove correct.

Contact Information

  • Contact:
    YES INTERNATIONAL
    800-631-8127