SOURCE: China Direct Trading Corp.

May 07, 2007 10:00 ET

Jeffrey Guzy Joins China Direct Board of Directors as Independent Director and to Handle Wall Street PR

COOPER CITY, FL -- (MARKET WIRE) -- May 7, 2007 -- China Direct Trading Corp. (OTCBB: CHDT) (China Direct or CHDT), a Florida corporation, today announced the appointment of Jeffrey J. Guzy as an independent director to the board of directors of China Direct, effective May 3, 2007. As the director member of our newly created Finance Committee of the Board of Directors, Mr. Guzy will lead CHDT efforts to increase awareness of our company among Wall Street and regional securities, investment banking and asset management firms.

"I am very pleased to have Jeff as part of our expanding board. We believe that his experience in working with large and small, established and start-up companies is invaluable to us. Jeff will be working to promote our company to Wall Street firms and regional broker-dealers, market makers and asset managers as well as closely working with me in organizing and managing our financial options as CHDT enters new markets with exciting new products and services," said Howard Ullman, Chairman of the Board of China Direct.

Mr. Guzy was General Manager at Loral Space Systems, responsible for developing their satellite Internet access business in North and South America. Before Loral, Mr. Guzy was a founder of FaciliCom International (FCI), a $500M annual, international carrier, with facilities and service. He helped build the company's service in North America and in 10 European countries. He was Exec. VP of Sales, Marketing, Product/Business Development. He assisted in the raise of over $300M for expansion capital and completed two acquisitions of foreign telecom companies. He was also instrumental in the sale of FCI to World Access for $750M.

Mr. Guzy held executive or management positions at several large international telecom carriers, including Comsat International, Sprint and Bell Atlantic's Information Services group. He has held program and project start-up responsibilities along with senior business development positions at all these firms.

He has an MBA from the Wharton School of Finance, University of Pennsylvania, an MS in Systems Engineering from the University of Pennsylvania, a BS in Electrical Engineering from Penn State University and an Associate Degree of Theology from Georgetown University.

About China Direct: China Direct (http://www.chdt.us) is a holding company engaged through its operating subsidiaries in the following business lines: Capstone Industries, Inc. (www.capstoneindustries.com) is engaged in product development, manufacturing, distribution, logistics and product placement to importers, theme parks, and mass retail of souvenirs, gifts, and consumer products. Overseas Building Supply (OBS) is engaged in distribution of building materials including but not limited to roof tiles, interior doors, and insulation materials.

FORWARD-LOOKING STATEMENTS: This press release, including the financial information that follows, contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. These statements are based on the Company's and its subsidiaries' current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. CHDT undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Past marketing or product development experience is not necessarily indicative of future success. CHDT is a "penny stock" and, as such, any investment in CHDT stock is a highly risky investment suitable only for those who can afford to lose their investment. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect CHDT's business, particularly those mentioned in the cautionary statements in current and future CHDT's SEC Filings.

Contact Information

  • Contact:
    China Direct
    Rich Schineller
    (646) 257-3902
    rich@CHDT.us