SOURCE: WanderPort Corporation

February 12, 2010 16:00 ET

Wanderport Signs Multi-Year Australian Distribution Agreement Valued at $50 Million

NEW YORK, NY--(Marketwire - February 12, 2010) -  Wanderport Corp. (PINKSHEETS: WDRP) today announced that it has concluded a definitive sales and distribution agreement with Gavin Ovens Holdings PTY LTD., a leading international group specialized and certified in water treatment located in New South Wales Australia.

The sales agreement primarily involves Australia and New Zealand and is signed for a 5 year term. Sales commitments are being reviewed and negotiated but preliminary estimates are in the area of 10,000 units within the first year and the aggregate sales are valued at $50 million over a period of 5 years. This agreement is perfectly timed to coincide with Australia's new hot water strategy which began July 1st, 2009 to develop strategies to limit water and energy consumption by focusing specifically on improved water heater performance efficiency.

"The water heater industry in Australia is primed for Wanderport's cutting edge microwave energy water heater technology which we believe will dramatically change an industry heavily lacking in innovation," said Mr. Gavin Ovens, President and CEO of Gavin Ovens Holdings PTY LTD.

"We are very fortunate to be associated with Gavin Ovens Holdings PTY LTD. They are true professionals in water treatment and as such, will definitely synergize Wanderport with Australia's water waste management strategy. This sales agreement will undoubtedly assure us a large portion of the Australian water heater marketplace and create remarkable growth for Wanderport and its investors," stated Richard Martel, President and CEO of Wanderport. 

About Wanderport Corporation: Wanderport Corporation is a holding and business development company making investments, acquiring licenses and deployment of environmentally friendly "Green" technologies such as primary alternative, renewable energy and energy saving products namely Pulsar's microwave energy tank-less water heater, which reduces water and energy consumption as well as global dependence on oil. Pulsar Advanced Technologies Inc. was the proud recipient of the 2005 TIPTA award (TCA; Toronto Construction association, Innovative Product and Technology Award), recognizing excellence in innovation in product or technology development, or its application of its microwave energy tank-less water heater.

Important Information About Forward-Looking Statements: 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 to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts.

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