SOURCE: Quasar Aerospace Industries, Inc.

September 24, 2010 15:15 ET

Quasar International Holdings, Inc. (Formerly Quasar Aerospace Industries, Inc.) Dean Bradley Steps Down as CEO/President of Quasar International Holdings, Inc.

JACKSONVILLE, FL--(Marketwire - September 24, 2010) - Quasar International Holdings, Inc. (PINKSHEETS: QASP): Dean Bradley has stepped down from all corporate positions. Mr. Bradley has also resigned all positions of authority in all Quasar subsidiaries. Mr. Bradley's 75% voting rights, by way of Series A Preferred shares, will be placed in a trust fund to be managed and overseen by attorney Daniel Vaughn, and Apex CEO, Jeff Landreth.

Quasar is very pleased to announce its new corporate structure. Jeff DiGenova will be taking over the CEO and President positions effective immediately. Joshua Henderson will be the new COO, and Tracy Rose will be filling the CS position.

As an update to shareholders, Mr. DiGenova commented, "I know there have been a lot of concerned shareholders: however, Quasar has a very workable business plan, and one that I believe we can see to completion. I'm very glad to be in a position that I can now help Quasar to achieve its objectives. I am receiving daily updates on the status of our funding, and it looks promising at this point. One thing I would like to assure our shareholders of is that, at this time, there will be no changes in our authorized share structure, nor will there be a reverse split. Any need to raise funds presently to get us to the finish line must be done privately; it is evident that our shareholders have been tapped hard enough."

Our headquarters will remain at Herlong Airport. Atlantic Aviation and Corporate Air Repair will remain as integral parts of the business plan. However, we have made the decision to rescind the acquisition agreement with CET. The rest of our target acquisitions are completely committed to joining the Quasar family."

We would also like to clear the air on some misstatements in the last two PR's. Jeff Landreth and Gene Johnson have never signed a consultation contract with Dean Bradley and/or Quasar International Holdings. However, Jeff Landreth stated, "We respect the current management team and the business plan, and upon funding, we look forward to exploring all opportunities in the future."

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 Quasar Aerospace Industries, Inc. under take no obligation to update such statements.

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