SOURCE: Quasar Aerospace Industries, Inc.

November 24, 2009 12:19 ET

Quasar Aerospace Industries, Inc. Announces a Joint Venture to Develop a New Generation of Aircraft Engine

JACKSONVILLE, FL--(Marketwire - November 24, 2009) - Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)

Dean Bradley, Quasar's CEO, is pleased to announce entering into a joint venture to develop a new aircraft engine utilizing cool burning high efficiency engine technology developed and tested in the high performance auto racing venue. We believe we will be able to manufacture a lighter weight engine that produces greater horsepower and achieves improved fuel consumption over any engine available on the market today. Quasar has already begun funding the development of the program and is very encouraged with our progress.

James Ray, the president of Quasar Aircraft Corporation will manage the development project with our aeronautical engineers and the engineers from the engine company.

This press release contains "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 and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Equus Resources, Inc. and Quasar Aerospace Industries, Inc. under take no obligation to update such statements.

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