SOURCE: Quasar Aerospace Industries, Inc.

March 26, 2010 12:57 ET

Quasar Aerospace Industries, Inc. Dean Bradley Announces Stock Repurchase and Update on Funding

JACKSONVILLE, FL--(Marketwire - March 26, 2010) -  Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP) -- Dean Bradley, the CEO of Quasar Aerospace Industries, Inc., announces that he has purchased for his personal account in excess of 6 million shares of QASP this week. It is his intention to continue to buy the company stock as long as it remains at this artificially low price.

The corporate buyback of company shares will begin in earnest the first week of April 2010, and will continue until the company has repurchased up to twenty (20%) percent of the total outstanding shares.

Our funding source confirmed to us in writing yesterday that the final hurdles to completion of our loan have been overcome and Quasar Aerospace Industries, Inc. will be fully funded within the next two to three weeks.

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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