SOURCE: Tank Sports, Inc.

October 02, 2007 08:30 ET

Tank Sports Signed the Custodial Agreement With PMI and It's in Progress

SHANGHAI, CHINA--(Marketwire - October 2, 2007) - Tank Sports, Inc. (OTCBB: TNSP) today announced that since the signing of the 100% stock acquisition LOI agreement with PMI/Dazon on September 24th that it has entered into a custodial agreement with PMI/Dazon on September 27th. The custodial operation officially began on September 29th with the appointment of Mr. Zhiqian Zeng from Tank Sports as the custodial director of operations in the Shanghai, China, facility.

Mr. Zeng has reported that the custodial deposit, loaned in China to PMI/Dazon, was successfully completed, and the custodial operation is now in progress. "I have formed a very close relationship with PMI/Dazon, and I have been working directly with PMI/Dazon in a very harmonious environment," said Mr. Zeng. "Dazon's Kart/Buggy technology is truly leading the other Chinese manufacturers. With the development of the 1100cc Kart (see picture) leading the line, PMI/Dazon is already receiving very high praise in both the European and American markets. PMI/Dazon has received a number of orders from its U.S. customer base, and these are already in production," further stated Mr. Zeng.

According to Tank Sports, the PMI/Dazon karts borrow heavily on western design including the use of an American suspension system, electronic fuel injection and a proven steering mechanism which is designed for off- and on-road use.

About Mr. Zhiqian Zeng:

Certified Career Manager; Bachelor of Economics; 15 years' experience as Accounting Director.

About Tank Sports, Inc.

Tank Sports is a leading company that develops, engineers, and markets high-performance on-road motorcycles and scooters, as well as off-road all-terrain vehicles (ATVs), dirt bikes and Go Karts in China. It utilizes the so-called "China Concept'' to participate in the $31.5 billion annual (data: Motor Industry Council) motorcycle/ATV market. Tank Sports primary advantage is its efficient distribution network in the U.S. The company's goal is to bring the extraordinary riding experience to its customers. For more information, visit http://www.tank-sports.com.

Safe Harbor Statement

The foregoing news release includes numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor'' for certain forward-looking statements. Forward-looking statements in this news release relating to business developments are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with a small business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.

Contact Information

Multimedia