SOURCE: Steadfast Holdings Group, Inc.

January 28, 2008 09:00 ET

Steadfast Holdings Group, Inc. Announces Expanded Agreement Expected to Be Worth $2.15 Million

WEST PALM BEACH, FL--(Marketwire - January 28, 2008) - Steadfast Holdings Group, Inc. (PINKSHEETS: STHG) announced it has entered into an expanded Private Label / Distribution Agreement with Tonneau Master.

John Calash, CEO of Steadfast Holdings Group, Inc., stated, "This deal will be worth $2,150,000.00 with $450,000.00 going to the balance sheet's bottom line when spread out over 50 stores, which is the Corporation's goal to have opened in 2008."

The Agreement calls for Tonneau Master of Lexington, KY to produce a Private Label product for Steadfast which in turn will distribute them through their increasing number of locations. The original agreement was expected to be worth as much as $637,500.

About Tonneau Masters

Tonneau Masters has become a driving force in the automotive aftermarket industry, setting the standard for all other vinyl tonneau cover manufacturers. Located in Newton Falls, Ohio, Tonneau Masters, the largest employer in the area, serves thousands of customers nationwide with quality products at affordable prices. Tonneau Masters is a company that thrives on offering the most innovative, high quality products in the automotive accessory aftermarket. In 1993, the Tonneau Masters became the first company to offer a frame mounted, hinged, vinyl tonneau cover. Tonneau Masters was also the first company to offer vinyl tonneau covers for trucks with toolboxes. Additional information may be found at www.tonneaumasters.com.

About Steadfast Holdings, Inc.

Steadfast Holdings distributes a variety of products to the automotive aftermarket. The core business is its spray on truck bed protection product which offers specially formulated polymers that permanently bond to the truck's bed. The Company's spray-on Polyurea is a remarkable technology with a range of uses limited only by your imagination. They are also utilized in commercial, industrial, agricultural, military and custom applications when this tough coating is used to protect everything from metals to concrete against chemicals, solvents, fuel, etc. The Company is a licensed dealer for the following aftermarket products: A. R.E. Truck Caps and Lids, Tool Boxes, Nerf Bars, Tube Steps, Running Boards, Rack Systems, Rail Caps, Tonneau Covers, Fender Flares, Grilles, Visors, Bug Shields, Roll-Up Covers, Side Rails, Mud Guards, Floor Mats, Lights, Trailer Hitches, Stainless Steel Accessories and Lift Kits. Steadfast also has distribution agreements with the several companies that manufacture light truck aftermarket products. Additional information may be found at www.steadfastlinings.com.

Safe Harbor

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

Contact Information

  • CONTACT:
    Steadfast Holdings Group, Inc.
    Investor Relations
    561-820-2444