SOURCE: Element 21 Golf Co.

November 17, 2008 12:45 ET

Element 21 Golf Company Announces Record First Quarter Sales

Net Revenue Increases 323.3%

TORONTO--(Marketwire - November 17, 2008) - Element 21 Golf Company (OTCBB: ETGF) (FRANKFURT: BJQ), the leading manufacturer of advanced Scandium Alloy golf and fishing equipment, announced today record first quarter results for the period ended September 30, 2008. The Company generated net revenue of $555,256, an increase of 323.3% compared to revenue of $131,131 in the year earlier period as a result of growing sales of its golf and fishing equipment lines. The first quarter is typically a seasonally slower period for the Company.

"We are pleased that in an incredibly difficult consumer environment that we were able to generate another strong quarter of sales growth," said Nataliya Hearn, President and CEO of Element 21. " We continue to see growing adoption of our golf and fishing product lines. Our ability to penetrate new distribution channels as well as our growing recognition by leaders in the golfing and fishing industries positions us well for future growth. Since it is unclear when consumer spending will increase, the Company will continue to tightly manage expenses while continuing to build distribution for the future."

Some of the recent highlights include:

--  Growing distribution.  The Company received a $300,000 order from a
    leading distributor of for its Carrot Stix line of fishing rods from the
    Farris Brothers, Inc. (www.farrisbrothers.com), a leading distributor of
    Hunting and Fishing Supplies. The purchase represents the initial order for
    the 2008-2009 season.
    
--  Best product award. The Company won best product award at The
    International Convention of Allied Sportfishing Trades (ICAST), the world's
    largest sportfishing trade show. The Company won in the best Clothing
    Category with the introduction of the "CarroTex" insulation in its line of
    Wind, Rain and Ice thermal rain gear. This is the second year that Element
    21 has won Best product awards at the iCAST, which is the cornerstone of
    the sportfishing industry, helping to drive sportfishing companies' product
    sales year round.
    
--  Leading Golfer wins with Company's Scandium Shafts.  The FedEx Cup
    Winner used the Company's shafts to win multiple high-profile golf
    tournaments, including the Barclays Invitational, Deutsche Bank
    Championship and Bridgestone Invitational.
    

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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