SOURCE: Quasar Aerospace Industries, Inc.

September 28, 2009 11:42 ET

Quasar Aerospace Industries, Inc. Announces the Start of Its Stock Buy Back Plan and the Acquisition of Its First Twin Engine Trainer for Atlantic Aviation

Last Tuesday Quasar Held a Critical Meeting Regarding Two of Its Acquisition Candidates and Completed a Definitive Acquisition Agreement

JACKSONVILLE, FL--(Marketwire - September 28, 2009) - Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP) is pleased to announce the start of our previously announced Stock Buy Back Plan on Monday, September 28, 2009. The company was delayed for a few days because our primary bank could not open a securities trading account for Quasar in a timely basis. Fortunately Deutsche Bank in San Francisco and NYC came to our rescue. We received final approval on Thursday afternoon and will be starting today.

On Tuesday of last week a critical meeting was held regarding our recently announced acquisitions. Quasar Aerospace Industries CEO, Dean Bradley, and Senior Vice President for Administration, Lisa Betros, were in Kansas with the executives for two of our acquisitions along with the legal teams for those companies. Also attending were attorneys for Quasar coming in from Seattle and Philadelphia. In this series of meetings we were able to complete the Definitive Acquisition Agreements, the employment contracts for key employees, and the incentive plans for the employees of the subsidiaries. Also discussed was a new opportunity that will potentially become part of Quasar Aerospace Industries.

On Monday, September 21, 2009 executives from our wholly owned subsidiary, Atlantic Aviation, took delivery of a pristine Piper Seminole for $89,000, which is an excellent twin engine trainer. Atlantic Aviation President and Chief Flight Instructor, Joshua Henderson, and Atlantic Aviation's Director of Aircraft Maintenance, Raymond Frez, raved about the plane after their cross country flight with the aircraft. In the present economic environment now is an ideal time to be adding to the fleet.

We have been asked what Redbird simulator we purchased and installed at the Herlong Airport, it is their FMX Model. We are pleased to announce that we purchased this top of the line unit for $80,000. We are so pleased with it that we have now ordered a second identical unit.

The company is on track to execute our business plan. The management team is working diligently to complete the first four acquisitions, and will then proceed on two more acquisitions shortly thereafter.

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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