SOURCE: Euro Group of Companies, Inc.

May 07, 2008 17:02 ET

Eurospeed, Inc. Announces Comprehensive Warranty Program

PORT CHESTER, NY--(Marketwire - May 7, 2008) - Euro Group of Companies, Inc. (PINKSHEETS: EGCO) subsidiary Eurospeed, Inc. announced today that they have contracted with CornerStone United, Inc. to provide comprehensive product warranties for Eurospeed transportation products sold in the United States. Under the terms of Eurospeed's contract with CornerStone, Eurospeed will offer 36 month limited warranties on all scooters and motorcycles, and 18 month limited warranties on all ATVs (all-terrain vehicles) and UTVs (utility vehicles) sold through its domestic dealer network.

Eurospeed, Inc., which will introduce its 2008/2009 product offering at its Product Launch Show at the Royal Regency Hotel in Yonkers, New York on Friday, May 9th, offers full dealer service capability, comprehensive product warranty and full parts availability. Eurospeed manufactures its transportation products in China and has received all necessary Federal DOT and EPA approvals.

Eurospeed, Inc. markets its products in the United States, Canada and Puerto Rico through its exclusive distributor, American Motor Sports LLC (Eurospeed USA), based in Ansonia, Connecticut. The distributor is assembling a national dealer network of new car dealers who are eager to add additional high margin products to their other offerings. This dealer network will provide the marketing, sales, service and customer satisfaction that will differentiate the distribution of Eurospeed products from other Chinese manufacturers.

About CornerStone United, Inc.:

CornerStone United, Inc. is one of the oldest service contract/warranty administrators in the U.S. and Canada, and has been administering warranties and service contracts in the U.S. since 1973 and in Canada since 1984. CornerStone specializes in a number of industries including powersports, recreational vehicles, HVAC, pools and spas and telecommunications. CornerStone's experienced staff of almost 100 associates in the U.S. and Canada has administered contracts for more than 2 million consumers and has paid over $66 million in claims benefits to their contract holders. CornerStone currently processes over 200,000 new contracts and adjudicates over 40,000 claims annually.

Euro Group of Companies, headquartered in Port Chester, New York, with offices in Shanghai, China, and Athens, Greece, is an operating company focused on three distinct and separate businesses -- communications products, transportation products and consumer electronics and appliances -- that management believes offer unusual opportunities for revenue and profit growth.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: From time to time, information provided by the Euro Group (including but not limited to this release), statements made by its employees or information included in its filings with the Securities and Exchange Commission may contain statements, which are so-called "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended which are intended to be covered by the safe harbors created thereby. With respect to such forward-looking statements, Euro Group claims protection under the Private Securities Litigation Reform Act of 1995. The Company's results may differ significantly from those stated in any forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including, but not limited to, product demand, pricing, market acceptance, litigation, risks in product, and technology developments, and other risk factors detailed from time to time in the Company's Securities and Exchange Commission reports including, without limitations, its Form 10-KSB and Forms 10-QSB.

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