SOURCE: Element 21 Golf Company

May 03, 2006 16:12 ET

Element 21 Golf Company -- Secures Receivables Through Export Development Corporation

WALLST.NET Interviews CEO of E21 at 4:45pm (EDT) May 3, 2006

TORONTO -- (MARKET WIRE) -- May 3, 2006 -- Element 21 Golf Company ("E21") (OTC BB: EGLF) reported today that EDC (Export Development Corporation of Canada) has issued a first commercial policy to E21 Golf insuring 90% of the future invoice value up to 100,000 USD of one of the leading golf equipment retailers in the USA. E21 is working to secure all future invoices to major golf retailers in the USA for all sales up to 250,000 USD. In addition Element 21 Golf has received about150 applications to distribute E21 powered golf equipment. The company has followed up with credit applications sent out to all interested parties. E21 will submit all qualified credit applications to EDC to insure all international sales.

"A relationship with the EDC is extremely helpful to a company such as ours with such wide ranging international business interests," commented Bill Dey, Executive Vice President and General Manager of E21. "With part of the spring product inventory arriving by air this week, we are now in a position to ship products to retailers and distributors world-wide with little financial risk. In the coming days and weeks we will begin shipping clubs to off-course retailers, on-course pro shops, as well as to a growing network of international distributors," said Mr. Dey.

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 offer 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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