SOURCE: Steadfast Holdings Group, Inc.

January 17, 2008 09:00 ET

Steadfast Announces 5% Increase in Original $300,000 Agreement

Company Expects Additional Expanded Agreements to Be Announced

WEST PALM BEACH, FL--(Marketwire - January 17, 2008) - Steadfast Holdings Group, Inc. (PINKSHEETS: STHG), announced they have signed an Expanded Agreement with Savage Arms to spray coat several shooting ranges.

Steadfast CEO John Calash said in making the announcement, "This Agreement expands the business we initially completed and opens additional revenue streams for our new South Florida locations which are scheduled to open over the next 30 days. In addition, a contract to do commercial spraying through the Coco Beach, FL facility has been signed with Savage Arms. This Agreement will help our franchisees in Coco Beach, Broward and Dade Counties as well."

Mr. Calash further stated, "Thanks to the fact that our one-of-a-kind product has been so well received, we have been able to generate additional revenues by increasing sales via our current client base. This is a great testament to the quality, flexibility and demand of our product. Hence, we anticipate more of our clients to sign expanded agreements in the near future which could greatly enhance our bottom line."

Steadfast Holdings distributes a variety of products to the automotive aftermarket. The core business is its spray on truck bed protection product which offers specially formulated polymers that permanently bond to the truck's bed. The Company's spray-on Polyurea is a remarkable technology with a range of uses limited only by one's imagination. They are utilized in commercial, industrial, agricultural, military and custom applications where this tough coating is used to protect everything from metals to concrete against chemicals, solvents, fuel, etc. The Company is a licensed dealer for the following aftermarket products: A.R.E. Truck Caps and Lids, Tool Boxes, Nerf Bars, Tube Steps, Running Boards, Rack Systems, Rail Caps, Tonneau Covers, Fender Flares, Grilles, Visors, Bug Shields, Roll-Up Covers, Side Rails, Mud Guards, Floor Mats, Lights, Trailer Hitches, Stainless Steel Accessories and Lift Kits. Stead-fast has distribution agreements with the following companies that manufacture light truck aftermarket products. Additional information may be found at www.steadfastlinings.com.

The Savage Arms Company was organized in 1894 by Arthur Savage in Utica, New York. Throughout its long history, Savage Arms has remained an industry leader in arms and ammunition. Currently they offer a product line that includes but is not limited to hand guns, rifles, shotguns and archery along with a retail clothing line and shooting ranges. In 1992, Savage designed and patented the SNAIL, an environmentally friendly shooting range system that has since been adopted by all major firearms' manufacturers, police, military and private shooting clubs in America and 14 other countries. The NRA, FBI and numerous Special Forces currently use the SNAIL Savage system. Additional information may be found at www.savagearms.com.

Safe Harbor

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

Contact Information

  • Contact:
    Steadfast Holdings Group, Inc.
    Investor Relations
    561-820-2444