SOURCE: Quasar Aerospace Industries, Inc.

January 15, 2010 11:01 ET

Quasar Aerospace Industries, Inc. CEO Announces Closing the First Two Acquisitions, and a Joint Venture With Tigerfish Aviation Pty. Ltd.

JACKSONVILLE, FL--(Marketwire - January 15, 2010) - Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)

Dean Bradley, the CEO of Quasar Aerospace Industries, Inc., is pleased to announce the closing of the first two of its acquisitions. The companies were acquired with a combination of cash and notes. Their identity will be disclosed in a future press release after they have had an opportunity to inform all of their customers and vendors of the change in control.

The Company has entered into an agreement with Tigerfish Aviation Pty. Ltd. Of Australia to form a joint venture by forming a US company tentatively to be named Tigerfish Aviation USA, Inc. The ownership of this company will be 70% QASP and 30% Tigerfish/Australia. QASP will make an initial investment in the US company of $5,000,000 to move forward the development of the Retractable Amphibious Pontoon Technology (RAPT). The CEO was in Germany the third week of December and met with individuals from ELAN-EDAG, a worldwide private engineering firm that is eager to join us in taking the RAPT to the next level.

Last but not least the company made a substantial donation to the Red Cross Disaster Relief Fund for the victims of the devastating earthquake in Haiti. The CEO personally matched the company's donation. We urge all of our shareholders to consider helping the charity of their choice to whatever level they can comfortably afford.

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Quasar Aerospace Industries, Inc. under take no obligation to update such statements.

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