SOURCE: WanderPort Corporation

December 01, 2008 09:18 ET

WanderPort Corp. Announces That It Has Entered Negotiations for the Development Rights of a Complex of Aircraft Servicing Hangars to Be Built at Montréal-Mirabel International Airport in the Province of Quebec, Canada

NEW YORK, NY--(Marketwire - December 1, 2008) - WanderPort Corp. (PINKSHEETS: WDRP) announced today that it has entered into an extensive agreement to acquire the rights to lease five hundred thousand square feet of land adjacent to the principal runway at Mirabel Airport. The Airport had been constructed before the Montreal Olympics and has runways able to support substantial sized aircraft. The objective is to construct an airplane-servicing hangar capable of simultaneously accommodating two of the largest aircraft in general service today.

Included in the agreement to lease will be control over an additional two million square feet of land to be developed as additional hangars are required. This is sufficient to build either four additional five hundred square foot hangars or three massive Six hundred and fifty thousand square foot units capable of handling any larger aircraft currently on drawing boards for future production at this time. Most airlines will only acquire very few of these larger aircraft making it more advantageous to contract out the overhaul and inspections rather than add another expensive facility to already overcrowded airports.

In addition to this contract under negotiation, the Board is pursuing other companies whose assets are owned by U.S. Banks and available at a sharp discount from replacement cost. The new board is endeavoring to sharpen the company's focus on key investment opportunities including biotechnology start-up companies based in Israel. Negotiations have begun, to acquire and finance specific firms based in Tel Aviv and Haifa, Israel. WanderPort believes these initiatives will increase shareholder value and improve the long-term success and profitability of the company.

As noted above, the restructuring of the Officers and Directors of the Board has already started to lead the company towards its new goals and strategies. Opportunities arising from current market uncertainties, the weakened American banking system, and companies' ongoing need for capitalization should present WanderPort with its next phase of business development and solutions for asset growth and increased shareholder equity.

Forward-Looking Statement:

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results.

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