SOURCE: Hollund Industrial, Inc.

May 15, 2008 10:49 ET

Hollund Industrial, Inc. Announces Letter of Intent for $3.6 Million Purchase and Sale of TigerLynk Machinery

BRANSON, MO--(Marketwire - May 15, 2008) - Hollund Industrial, Inc. (PINKSHEETS: HLLD) ("Hollund" or the "Company") today announced the signing of a letter of intent (the "Letter of Intent") from Marine Recovery Systems NZ Limited, a New Zealand based corporation ("Marine") for the future purchase and sale of TigerLynk machine systems. This represents the second letter of intent signed with a customer.

Under the Letter of Intent, Marine would purchase three (3) TigerLynk model AR-120 machines over the next three (3) years for a total of $3.6 Million, or $1.2 Million each. The Letter of Intent is subject to negotiation and execution of a definitive agreement.

The Company expects to deliver the first AR-120 to Marine in early 2009.

"We're pleased to add Marine to our growing list of customers. Already Marine has introduced our product line to several groups in Australia and New Zealand, including major hydroelectric operators," stated Michael Lacy, Hollund's President and Chief Executive Officer. "I am further pleased to report that orders for the AR-120 now total six units worth $7.2 Million in future sales. We're energized by this news and thrilled by the strong demand for the AR-120. The established team is currently focused on rapidly commercializing the first unit, more news of which is forthcoming."

About Hollund Industrial, Inc.

Incorporated in Washington, Hollund Industrial, Inc. (PINKSHEETS: HLLD) is a technology development and production company focused on the marine industry. Hollund Industrial Robotics Systems, Inc. (Hollund Robotics), a wholly owned subsidiary, has the exclusive patents to TigerLynk Technology. TigerLynk is an innovative heavy machine system being developed for various underwater construction, forestry, mining, and flood emergency response applications. TigerLynk machines feature large-scale robotic manipulators, versatile tools, and unique vision enhancement systems that enable an operator to safely perform a wide range of remote services.

For more information on Hollund, visit www.HollundIndustrial.com.

For more information on TigerLynk machinery, visit www.TigerLynk.com.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "estimated," "believe," "optimistic," "expect," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in forward-looking statements. Such risks and uncertainties include, but are not limited to, unfavorable market conditions, increased competition, limited working capital, and failure to implement business strategies, actions by regulatory agencies, and other risks.

Contact Information

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