SOURCE: Avitar, Inc.

October 18, 2010 09:30 ET

Avitar, Inc. JV Agreement With Johnny Famous Shoes Update

CALGARY, AB--(Marketwire - October 18, 2010) -  Avitar, Inc (PINKSHEETS: AVTI) is pleased to announce that, notwithstanding a slight delay in production, the Joint Venture with Johnny Famous Shoes, Inc. ("Johnny's") of New York is proceeding as planned. The current production of footwear is expected to be shipped to Johnny's United States warehouse by the end of the month. The shoes will then be delivered to stores immediately thereafter.

Doran Santiago Ramos, Johnny's head of sales and marketing, stated, "I will be traveling to Mexico later this week to do a final inspection at the manufacturing facility. The product will then be shipped to our facility in San Diego. From there we will ship straight to the stores. Everything should arrive in the stores before November 15th."

Ramos further stated that even with the delay, there is no problem with the sales contracts as the shipments will arrive in good time for the Christmas selling season. 

Johnny's is pursuing other exciting opportunities to produce name brand shoes and fashions, in which Avitar may participate.

About Avitar, Inc.:

Avitar, Inc. is a publicly traded holding company now focusing on investing in and building a network of joint venture interests, or, as the situation may require, operating subsidiaries. These joint ventures or subsidiaries are or will be engaged in various innovative businesses. Currently the company's joint venture interest with Johnny Famous Shoes, Inc. provides Avitar with its entry into its new business model.

This Press Release contains or incorporates by reference forward looking statements including certain information with respect to plans and strategies of Avitar, Inc. For this purpose, any statements contained herein or incorporated herein by references that are not statements of historical fact may be deemed forward looking statements. Without limiting the foregoing, the words "believes," "suggests," "anticipates," "plans," "expects," and similar expressions are intended to identify forward looking statements. There are a number of events or actual results of Avitar, Inc. operations that could differ materially from those indicated by such forward looking statements.

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