SOURCE: Natco International Inc.

December 20, 2006 09:35 ET

NATCO RTO Partner Embarks on First City-Wide Equipment Test

SURREY, BC -- (MARKET WIRE) -- December 20, 2006 -- Mr. Raj-Mohinder Gurm, President of NATCO International Inc. (OTCBB: NCII), announces that Photo Violation Technologies Corp. ("PVT"), a company that has signed a non-binding letter of intent to take over NATCO in January, 2007, has received notification from the City of Niagara Falls, NY that the City will conduct a test of PVT's patented PhotoViolationMeter™ high tech parking meters. According to the notification, the City will install 200 to 225 of the user friendly, high revenue generating units in the downtown core for a 6-month test trial beginning on May 1, 2007. Provided that the meters perform to specifications, the mayor will recommend purchase of the equipment to City Council.

As a part of the project, PVT will install a wireless mesh network in Niagara Fall's downtown area to supply wireless access for the PVT trial as well as free Internet service for residents. The PhotoViolationMeters™ will take advantage of the wireless technology by using its wireless feature to perform real time credit card authorizations as well as provide remote meter operations.

PVT expects to have the support of IBM, who will be responsible for the software and back-end server used to manage the PhotoViolationMeters™. In addition, IBM will handle maintenance and ongoing service of the machines.

Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding NATCO's business strategy, plans and objective and statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "intends" or similar expressions, involve known and unknown risks and uncertainties. Although NATCO believes that the expectations reflected in these forward-looking statements are reasonable, they may prove to be incorrect and do involve assumptions, risks and uncertainties, including the risk that, among others, the transaction contemplated by the letter of intent between NATCO and PVT may not be completed within the expected time frame, or ever at all. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. NATCO's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in NATCO's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to NATCO or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, NATCO does not assume a duty to update these forward-looking statements.

Contact Information

  • Contact:
    Mr. Raj-Mohinder Gurm
    NATCO International Inc.
    #200 - 13018 - 80th Avenue
    Surrey, BC Canada
    V3W 3B2