SOURCE: Wall Street News Alert

October 12, 2006 09:48 ET

VSPC Continues to Issue Positive News: Subsidiary Signs Manufacturing Agreement! October 12, 2006

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL -- (MARKET WIRE) -- October 12, 2006 -- Wall Street News Alert's "stocks to watch" this morning are: VIASPACE Inc. (OTCBB: VSPC), Lockheed Martin (NYSE: LMT), Honeywell (NYSE: HON) and Nortel (NYSE: NT).

Once again, VIASPACE Inc. (OTCBB: VSPC) is on the move! Yesterday after the stock markets closed the company, dedicated to commercializing proven technologies from NASA and the US Department of Defense, issued a press release announcing that its subsidiary, Direct Methanol Fuel Cell Corporation (DMFCC), has signed a cartridge design and certified manufacturer agreement with Hyun Won Inc. of Daegu-city, South Korea.

News of the manufacturing agreement should get the attention of investors! Hyun Won Inc. manufacturers and distributes portable multimedia players with the brand mobiBLU. The company also produces image processing systems, glass encapsulation for optical light emitting diodes, and controllers for automated machinery.

DMFCC focuses on producing methanol fuel cartridges that will provide the energy source for laptop computers, cell phones and other portable electronic devices to be powered by direct methanol fuel cells.

Fuel cells are expected to gain a substantial market share because they offer longer operating time as compared to current lithium ion batteries and may be instantaneously recharged by simply replacing the disposable fuel cartridge. It has been announced that direct methanol fuel cells are being developed for portable electronic applications by companies such as Samsung and LG in Korea, and by Toshiba, NEC, Hitachi and Sanyo in Japan.

Wall Street News Alert is placing Aggressive Investors on alert to monitor the progress of VIASPACE! "Direct Methanol Fuel Cell Corporation is establishing a global network of partners to manufacturer and distribute fuel cartridges," reports Dr. Carl Kukkonen, CEO of both VIASPACE and DMFCC. "I welcome Hyun Won as a partner and look forward to a long and mutually beneficial relationship."

Hyun Won CEO Mr. O-Shik Song stated, "The portable electronics industry is moving toward fuel cells, and I believe that fuel cartridges can be one of the growth engines for our company. Hyun Won can be a strategic partner with VIASPACE to develop and introduce other high-technology products into the Korean marketplace."

As the company continues to issue positive news, this should be one to watch! Earlier this week, we reported the company issued a press release announcing that its subsidiary, Direct Methanol Fuel Cell Corporation (DMFCC), has filed a provisional patent application entitled Connection Device Valve for Micro Fuel Cell Power Units.

Last week the company announced that (DMFCC), signed an amended cartridge design and certified manufacturer agreement with Elentec Co., Ltd., which extends their current agreement until 2011. Elentec is a leading Korean supplier of lithium ion battery packs for portable electronic devices and OEMs worldwide.

Originally founded in 1998 with the objective of transforming proven space and defense technologies from NASA and the Department of Defense into hardware and software solutions that solve today's complex problems, VIASPACE benefits from important patent and software licenses from Caltech, which manages NASA's Jet Propulsion Laboratory.

Prior to the latest press release, the stock closed yesterday at around Seventy Eight cents a share.

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Lockheed Martin (NYSE: LMT) down 1% on 1.8 million shares traded. Lockheed Martin is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

Honeywell (NYSE: HON) down 0.3% on 2.7 million shares traded. Honeywell International is a $30 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials.

Nortel (NYSE: NT) up 0.4% on 42.5 million shares traded. Nortel is one of the leaders in delivering communications capabilities that enhance the human experience, ignite and power global commerce, and secure and protect the world's most critical information.

Market Commentary:

"In good economic news, the Treasury Department reported that with the end of the fiscal year on September 30, the federal deficit was trimmed to $248 billion, a decline of $71 billion from the $319 billion gap recorded in 2005. Increased taxes from good corporate earnings helped to decrease the deficit," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at:

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