SOURCE: Latitude Industries Inc.

February 06, 2007 07:00 ET

LTDN News Briefing: Latitude Industries Announces Major Corporate Milestones

MIAMI, FL -- (MARKET WIRE) -- February 6, 2007 -- Latitude Industries Inc. (PINKSHEETS: LTDN), a manufacturer of high-quality sport fisherman and center console boats, is celebrating its 11th year in business with a series of new initiatives.

Expanded opportunities with homeland security customers

In 2006, Latitude Industries agreed to build more than 40 patrol boats for U.S. Homeland Security on behalf of Midnight Express Boats. Recognizing Latitude Industries' exceptional product, the Organization of Eastern Caribbean States invited the company to submit a bid, in November 2007, for two high-speed patrol boats for the island of St. Lucie. Latitude Industries' durable, high-powered boats position the company as a leader in the homeland security market.

Bombardier Joint Venture

In November 2006, Latitude Industries signed a joint venture with Bombardier Recreational Products for an exclusive OEM distribution of outboard engines from 5 to 250 horsepower. The order calls for a distribution of engines with a combined 9000 horsepower.

Launch of revolutionary Latitude 26.5 Super Sport

Latitude Industries unveiled images in December 2006 of the new and revolutionary Latitude 26.5 Super Sport. The boat maintains sleek and sexy lines while offering spacious capacity for up to 11 passengers. The boat's muscular 450 horsepower motor can propel its riders through the water at speeds in excess of 70 mph.

Plug Tooling Acquisition

In December 2006, Latitude Industries acquired the plug toolings for a 47' Offshore Center Console from Tom Mason, former owner of Midnight Express. This tooling gives Latitude Industries the ability to build a 45' and 50' offshore center console, a project with substantial revenue potential.

New Marketing Partner

Latitude Industries demonstrated its commitment to growth by retaining Evensuns USA, a South Florida-based advertising agency specializing in the motor sports industry, to strengthen the company's online, print and collateral marketing efforts. Latitude's early 2007 branding plans include the launch of a new, more dynamic website that better represents the sophistication and quality of the company's boats.

"Our family pride is built into every boat we manufacture," said Latitude Industries President and CEO Carolina Hernandez. "Our competitive advantage lies not just in our use of cutting edge materials, but our workforce that includes skilled craftsmen with decades of experience."

Hernandez concluded: "Latitude Industries is a company with blockbuster potential. We have a strong customer base, an acquisition mindset, and a goal of industry diversification into areas such as boat trailers and marinas."

About Latitude Industries

Latitude Industries is a manufacturer of high-quality, technically superior offshore sport fishing boats. The company's boats fuse innovative design with advanced lightweight composite materials that resist rot and decay and retain buoyancy under all conditions. Hand-laid fiberglass hulls offer the best of old world craftsmanship and new world technology. In addition, the company enhances the safety of its boats by employing the latest lamination technology, creating a sturdy and durable hull that can handle the toughest sea conditions. Latitude Industries employs craftsmen with decades of industry experience at its headquarters in South Florida, the sport fishing capital of the world. For more information about Latitude Industries Inc. visit

Safe Harbor Statement

This release contains certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding Latitude Industries Inc. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Latitude Industries Inc. do not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

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