SOURCE: Medina International Holdings, Inc.

June 24, 2008 16:10 ET

Medina International Holdings, Inc. Executes Distributor Agreement With Turkey's Taskin Ticaret Ltd.

SAN BERNARDINO, CA--(Marketwire - June 24, 2008) - Medina International Holdings, Inc. (OTCBB: MIHI) announced today that the company has executed a Distributor Agreement with Taskin Ticaret Ltd., a Turkish company located in Izmir, Turkey.

The Agreement is an exclusive Distribution Agreement to sell Medina Marine's boats and watercraft within the country of Turkey. The term of the Agreement is set at five years and becomes renewable for another five years upon expiration of the first term. The Distributor must sell a minimum of two boats/watercraft per year, or a total of 10 boats/watercraft during the first term of the Agreement to maintain exclusivity.

"We are delighted to execute this agreement with Taskin Ticaret Ltd. We have worked hard to establish this relationship and feel that the company has a fantastic opportunity in Turkey," commented Daniel Medina, CEO of Medina International Holdings, Inc. "The officials we have worked with have been very cooperative and responsive with us and we expect a long and mutually beneficial relationship with Taskin Ticaret Ltd. and the government of Turkey," added Mr. Medina.

"We are looking forward to working with Medina Marine and representing their state-of-the-art watercraft. Turkey is an expanding economy with many opportunities. We are confident that this distribution agreement will be a mutually beneficial business arrangement for both Medina and our company," stated Mr. Semih Taskin, President of Taskin Ticaret Ltd.

The company is actively pursuing distributor agreements in other countries and has already, as previously announced, engaged a Colombian distributor to sell Medina Marine's boats and watercraft in South and Central America.

About Medina International Holdings, Inc.

Medina International Holdings, Inc. produces commercial fire, rescue, police and patrol boats utilizing the highest design and performance standards. The company's products combine safety, power, handling and stability with a proprietary hull design and equipment features that address specific niche markets.

With approximately 241,500 miles of waterways in the United States alone, opportunities for fire, search and rescue, and patrol boats are abundant. Assuming the need for 1 boat for every 10 miles of waterway, the potential addressable domestic market for Medina's products is $2.4 billion. International demand is even greater than domestic demand, which presents exponential growth opportunities for the company.

For more information, visit http://www.medinaih.com and http://www.medinamarine.com.

This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Medina International Holdings, Inc. to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Medina's Annual Report on Form 10-KSB for the currently fiscal year and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, inability to timely develop of products or services, inability to deliver products or services when ordered, inability of potential customers to pay for ordered products or services, and political and economic risks inherent in domestic and international trade.

Contact Information

  • CONTACTS:

    Medina International Holdings, Inc.

    Daniel Medina
    President
    (909) 522-4414

    Communications:

    Cinapsys, Inc.
    Mark Moline
    (760) 458-4899