SOURCE: Element 21 Golf Co.

July 08, 2008 09:05 ET

Element 21 Golf Announces Record 2008 Fiscal Fourth Quarter Revenue

Sales of Golf and Fishing Equipment Expected to Increase Approximately 40% Sequentially

TORONTO--(Marketwire - July 8, 2008) - Element 21 Golf Company (OTCBB: ETGF) (FRANKFURT: BJQ), the leading manufacturer of advanced Scandium Alloy golf and fishing equipment, announced today that it expects to report record 2008 fiscal fourth quarter revenue, for the period ended June 30, 2008, as a result of strong sales of its golf and fishing equipment lines. Net revenue, according to preliminary estimates, is expected to increase approximately 40% compared to the Company's 2008 third fiscal quarter, when Element 21 generated net revenue of $565,630. The fiscal fourth quarter results are expected to represent the sixth consecutive quarterly sequential increase in revenue.

"Our growing sales reflect continuing adoption of both our golf and fishing product lines," said Nataliya Hearn, President and CEO of Element 21. "Through increased marketing initiatives and new distribution channels, golfers and fishermen are increasingly recognizing the competitive advantages that our unique technology provides. We expect the increased recognition of our products will continue to drive sales growth in the coming months."

For the nine months ended March 31, 2008, the Company had net revenue of $952,562, an increase of 723% compared to the prior year in which the Company had net revenue of $115,636. Element 21 expects to report fourth quarter and year-end results in October.

About Element 21 Golf Company:

Element 21 Golf Company develops and markets award winning golf and fishing products made from the Company's next-generation, proprietary Scandium Alloys. Element 21's high performance products deliver dramatic improvements in distance, consistency, accuracy and feel over the most popular products in the US$5.5 billion golf and the US$48 billion international fishing markets.

Originally developed for advanced aeronautics in jet fighters including the MiG, Element 21's patented Scandium Alloys provides the highest strength-to weight ratio of any material currently used in sports -- 25% improvement over Titanium, 40% improvement over Graphite/Epoxy, 52% improvement over Aluminum, 70% improvement over Steel. They also provide unique vibration dampening properties resulting in products with unprecedented feel over competing materials.

Element 21 Golf Company has recently expanded its product line to include fishing equipment that has quickly secured international recognition by winning several top honors at the 2007 ICAST, the world's largest sports fishing trade show.

Forward-Looking Statements.

Statements in this release, other than statements of historical fact, may be regarded, in certain instances, as "forward-looking statements" pursuant to Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties which could cause actual results or events to differ materially from those currently anticipated, including but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting e21 and its business. A number of these risks and uncertainties are described in e21's periodic reports filed with the Securities and Exchange Commission. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein, which speak only as of the date hereof. Element 21 undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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