SOURCE: Quasar Aerospace Industries, Inc.

August 26, 2009 07:00 ET

Quasar Aerospace Industries, Inc. Gives a Comprehensive Update to Investors

Included Is an Update on the Recent Capital Raise, the Four Acquisitions and an Updated Website for Atlantic Aviation

JACKSONVILLE, FL--(Marketwire - August 26, 2009) - Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP) (formerly) Equus Resources, Inc. (EQUR) is excited to update our shareholders on several fronts today. We are providing an update on our recent capital raise including future capital requirements, our first four acquisitions and the updated Atlantic Aviation website.

The company does not anticipate a need or any reason to return to the capital markets for additional funding. We have been very successful in raising the funds needed thus far, and we are confident we can operate quite comfortably with the capital currently raised. This should give shareholders confidence in knowing that our share structure will likely not change for the foreseeable future. The world economic situation is unpredictable lately as we all know and things could change. That being said, we remain confident.

According to CEO Dean Bradley, "Once the four announced acquisitions are closed and operational, they will be providing adequate cash flow for any and all general needs."

We would like to also update shareholders on the closing of our acquisitions. It is critical to do the four acquisitions as a single transaction on a single day. Doing otherwise would lead to excessive transactional fees and duplication of expenses. With the obvious complications of closing four acquisitions at precisely the same time on the same day, we have to find a day and time that is good for all parties and their support and legal teams. We will be soon choosing a day and time that is acceptable to all concerned. While we tried to make all of this happen for Friday, August 28, 2009, it simply is not possible. We will provide an update when it is prudent.

These first four acquisitions of these well established aviation and aerospace related businesses will add an estimated $150 million to Quasar's revenue and $33 million in EBITDA for the Company's fiscal year 2010. The first group of acquisitions are only the beginnings of the Quasar Aerospace conglomerate as we are actively pursuing other ventures within the aerospace industry.

Atlantic Aviation, Quasar's flight training academy, is proud to announce our latest website upgrade. We invite you to visit At Atlantic Aviation Inc. students will graduate with the excellent fundamental skills of flying, giving them an advantage to complete their goals of flying for the airlines.

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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