SOURCE: Element 21 Golf Co.

August 24, 2006 12:33 ET

Element 21 Golf Company Reports on International Business Development

TORONTO -- (MARKET WIRE) -- August 24, 2006 -- Element 21 Golf Company ("E21") (OTCBB: EGLF) reported today on its recent international business activities including work with Australia and New Zealand distributor, Power Sports International (PSI) and with European distributor Golf Professional Services GMBH (GPS), based in Hamburg, Germany. With E21's funding secure it has now sent product to both companies for sales and for use by their extensive network of sales representatives.

GPS is now working on sales in Germany, France, Switzerland, Spain and Portugal. The initial shipment of product was sold out within days of its arrival and GPS is now preparing an additional order for E21. GPS has been marketing golf products in Europe for over 15 years and currently sells to over 1,200 retailers. They have placed advertisements for E21 products in several major European golf publications.

In Australia and New Zealand PSI has generated substantial interest in E21 products. In recent weeks PSI has had positive meetings and discussions with a number of retailers and green grass pro shops regarding E21's products. PSI recently attended the 2006 Australian PGA Golf Expo held in Sydney July 20-24 where it presented E21's full line of products. Over 20,000 retailers attended the show. With their head office and warehouse located in Queensland, PSI has 13 sales representatives in South Australia, New South Wales, Queensland, Tasmania, Northern Territory, Victoria, Western Australia and New Zealand.

"We have been very impressed with both GPS and PSI and their hard work on behalf of E21 and our products in recent weeks and we look forward to long and mutually rewarding relationships with these companies," commented Bill Dey, E21's Executive Vice President and General Manager. "With our funding now in place we are now able to begin to execute on our plan to bring our products to several key international golf markets including Europe, Asia and Australia. We are currently working on several other international opportunities. We will report on these activities and our plans for North American market very shortly."

About Element 21 Golf Company:

E21 holds the exclusive right to manufacture golf products using proprietary E21 Alloys. Through a sophisticated multi-technology production path E21 manufactures shafts, drivers, and other clubs with marked improvements in distance, accuracy and feel over competing products. In recent months a number of high profile golf professionals have switched to or began testing E21's Eagle One shafts. E21 Alloys are 55% lighter and offers 25% strength to weight advantage over Titanium alloys, the current standard in the golf equipment industry. The advanced dynamics of E21 Alloys and the material economics offer a performance-enhanced alternative to manufacturing driver clubs with Titanium, the largest segment of the annual 4 billion dollar golf equipment marketplace.

E21 recently announced its "Golf Shot Around the World Mission" in celebration of the 35th anniversary of Alan B. Shepard Jr.'s historic Apollo 14 Mission. Just about every single record for distance in the golf industry will be shattered this fall when an astronaut will hit a golf ball into orbit around the earth -- using an E21 golf club. It is only natural that this event takes place on the International Space Station, considering that E21 Alloys are also used on the Space Station in high strength, fatigue resistant applications.

E21 Golf -- The Evolution Is Inevitable!

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 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. E21 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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