SOURCE: NavStar Technologies, Inc.

NavStar Technologies, Inc.

August 04, 2009 09:45 ET

NavStar Announces Initial Inquiry From Investors to Sell and Distribute Products in Korea Which Could Represent $15M in Revenue

ANAHEIM, CA--(Marketwire - August 4, 2009) - NavStar Technologies, Inc. (PINKSHEETS: NVSR) (, a multinational firm focused on developing and commercializing asset tracking and monitoring devices for vehicles and high value cargo, today announced a series of meetings this week with a group of investors to sell and distribute products and services in Korea.

The discussions will range from a possible joint venture to sell and distribute and could include manufacturing to a straight multi-year distribution and sales agreement. Whatever form the agreement takes, it will combine NavStar's product development and GPS/wireless knowledge with the Korean investors'/partners' in-country experience and extensive business connections. The agreement for hardware and services should be in the $15M range for fiscal years 2010 and 2011.

"We have been working on this relationship for the past 3 months and are pleased that the investors are making a trip to the US to accelerate the process and are determined to reach agreement on the deal structure," said N. Douglas Pritt, Chairman & CEO, NavStar Technologies, Inc. "The potential Korean investors have an extensive distribution capacity and a range of contacts in Korea that would take us years to duplicate. The early conversations have been centered around the purchase of a minimum of 10,000 units every 12 months."

About NavStar Technologies, Inc.

NavStar ( is focused on the creation of products and services that provide tracking and monitoring of vehicles and high value cargo, equipment, and other valuable and personal assets.

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    NavStar Technologies, Inc.
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