SOURCE: IO Circuit

May 17, 2007 06:15 ET

(OTC: UITA) Begins Final Construction Phase of Performance Flight Test Aircraft

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit

LAKE HARMONY, PA--(Marketwire - May 17, 2007) - Utilicraft Aerospace Industries, Inc. (OTCBB: UITA) announced that since the Company has completed the task of becoming a publicly traded stock on the OTCBB Exchange late last year, and is now current with all of its required filings, PacifiCorp Funding Partners Trust, Ltd., its primary funding source, has entered into an Option Agreement with a private investor to purchase 45,825,397 shares of Utilicraft common stock currently held by PacifiCorp for a total of $48,000,000, to be used by Utilicraft for the development of the FF-1080-300ER aircraft.

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