SOURCE: Element 21 Golf Company

August 22, 2005 16:00 ET

Element 21 Signs Exclusive Manufacturing License With Pan Osprey Golf Apparatus Limited

IRVINE, CA and TORONTO -- (MARKET WIRE) -- August 22, 2005 -- Element 21 Golf Company (E21) (OTC BB: EGLF) announced today that it has entered into an exclusive manufacturing agreement with Pan Osprey Golf Apparatus Co, Limited.

After extensive talks and testing of Element 21's unique scandium metal alloy, the parties have agreed to an exclusive manufacturing agreement that will see Element 21 providing the raw materials with which Pan Osprey will manufacture a full line of clubs under the E21 brand name. In exchange for significant knowledge transfer of working with this advanced metal alloy, Pan Osprey has agreed that it will only manufacture scandium metal alloy clubs for Element 21, and will be constrained from using this alloy for any other third parties applications.

Initial tests conducted by Pan Osprey demonstrated the superior characteristics of the scandium metal alloy as compared to titanium and composites, and convinced the Chinese manufacturer to agree to this exclusive manufacturing contract.

Pan Osprey will manufacture a full line of clubs with proprietary designs from Element 21's design labs. The lineup will include Drivers, fairway woods, and a full range of irons, wedges, hybrid clubs, and putters. The entire lineup has many innovative design features that go well beyond the use of the exotic scandium metal alloy and will deliver unprecedented feel, accuracy and distance for golfing enthusiasts regardless of their level of play.

Dr. Nataliya Hearn, president and CEO of Element 21 Golf, stated: "Pan Osprey is an excellent fit as our primary supplier. Our proprietary scandium metal alloy requires advanced expertise in the manufacturing process and a considerable transfer of manufacturing know-how. Pan Osprey's 35 years of manufacturing experience in the high-end golf equipment industry assures us of an excellent final product. Our primary concern in choosing a manufacturing partner was the need to ensure that we had a reliable and experienced collaborator with a vision to radically improve the performance of golf equipment."

About Element 21: Element 21 is relying on its experience working with advanced scandium metal alloys to introduce this unique space-age material to the golf industry. Scandium alloys were originally developed for applications in aeronautics; MiG series fighter jets and leading edge missile applications, as well as the International Space Station.

Scandium metal alloy clubs represents the first new innovation in material composition of golf clubs to hit the industry in decades. Scandium not only provides significant increases in distance, but more importantly, added accuracy and consistency. Due to their advanced composition, coupled with numerous design innovations, these clubs will offer improved feel while reducing shock transfer to the player's hands.

Media members interested in testing shafts or the E21 Scandium Performance System clubs for an editorial review or receiving further information please contact:

The Media Group
Joe Wieczorek or Bart Henyan
(847) 956-9090
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 that involve risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. There can be no assurance that such statements will ever prove to be accurate and readers should not place undue reliance on any such "forward-looking statements" contained herein.

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