SOURCE: Quasar International Holdings, Inc.

August 17, 2010 10:01 ET

Quasar International Holdings, Inc. (Formerly Quasar Aerospace Industries, Inc.) Announces New Management Team

JACKSONVILLE, FL--(Marketwire - August 17, 2010) -  Quasar International Holdings, Inc. (PINKSHEETS: QASP)

Dean Bradley steps down as CEO/President of Quasar International Holdings, Inc. and announces the appointment of a new management team.

Dean Bradley said, "I am delighted to announce the appointment of a new management team, with immediate effect. My original vision -- to create a group of companies with complementary, ground breaking technology and products -- is in place. I brought the company to a point where we have agreed on exciting acquisitions and now need to secure the inward investments to carry this through. Several funding deals are in the final process of negotiation and the new appointments will provide a dynamic and talented team with the experience to move through to completion." He added, "I will serve as Chairman but the running of the company will now be in the hands of this exciting and determined team. The Mineseeker Operations acquisition will be the first to complete, giving us our first high profile international business interest. We have agreed to a short extension with Mineseeker Operations management to facilitate the new team's completion of funding and closing the MINESEEKER acquisition as its first priority."

The executive consulting management team will now be in the hands of Jeffrey Landreth, Chief Executive Officer, Gene Johnson, Chief Financial Officer and Lisa Betros, Chief Operating Officer. Each of these officers have agreed to join the board with their new responsibilities to assist the company in connection with the completion of fund raising, the finalization and closing of the Company's various investments and acquisitions, and with the organization and administration of the holding company and its subsidiaries.

With these appointments, Quasar is expressing its commitment to finalize its funding packages and closing on its remaining acquisitions. Dean Bradley will work diligently with the new Senior Management Team to pursue the company's goals and objectives. In announcing these appointments, Mr. Bradley says, "We are very proud and excited to be able to attract the talent and interest of people such as Jeff Landreth and Gene Johnson and to secure a much more expanded commitment from Lisa Betros who has served as Sr. VP for the past two years. They will provide solid, proven management, administrative and leadership skills for the company as we continue to move forward with the implementation of our vision."

Jeffrey Landreth commented, "This is an exciting venture and I firmly believe that Dean Bradley's vision in lining up world class acquisitions will create a unique and high profile technology group." CFO Gene Johnson added, "After funding is completed, Quasar will be in a position to deliver real and sustainable shareholder value." Moving up to COO Lisa Betros said, "Having worked at Quasar for two years I have great confidence that the new group, together with its acquisitions will fulfill the potential in which we all believe."

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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