SOURCE: Thomas Equipment Inc.

October 31, 2005 08:00 ET

Thomas Equipment Becomes Official Sponsor of 2008 Beijing Olympics

Thomas Authorized to Use the Olympic Seal and Logo on Its Equipment

CENTERVILLE, NB -- (MARKET WIRE) -- October 31, 2005 -- Thomas Equipment Inc. ("Thomas") (OTC BB: TEQI) today announced that the official 2008 Beijing Olympic Committee honored Thomas with an invitation to become an official sponsor of the 2008 Olympics and participate in the official Olympic ceremonies. With great pride and enthusiasm, Clifford Rhee, Thomas CEO, today accepted the invitation. As a gesture of goodwill, Thomas will donate one of its skid loaders to the Olympic Committee for use in its preparation for the 2008 Olympics.

This honor is important to Thomas for two primary reasons: first, it will feature Thomas and its products to the worldwide Olympic audience; second, both Thomas and Hyundai Heavy Industries Ltd., its strategic OEM partner, are poised to supply equipment used by Chinese customers to build and prepare for the 2008 Olympics. It is anticipated that the Olympic preparations will accelerate rapidly after January 1, 2006.

"The 2008 Beijing Olympic Committee has bestowed a great honor upon Thomas with its invitation for it to become an official sponsor. With great pride and excitement, we accept this invitation," said Clifford Rhee Thomas, President and CEO. "We have and will supply our equipment to Chinese customers preparing for the Olympics. We strongly support the ideals of the Olympics and are proud to be an official sponsor."

About Thomas Equipment Inc. ("TEQI"):

Thomas Equipment Inc., www.thomasloaders.com, and its subsidiaries including Pneutech Inc., Rousseau Controls Inc., Samsung Industry Co. Ltd., and Hydramen Fluid Power Limited: Thomas is an innovative and technologically advanced global manufacturer of a full line of skid steer and mini skid steer loaders as well as attachments, mobile screening plants and six models of mini excavators. Thomas distributes its products through a worldwide network of distributors and wholesalers. In addition, Thomas' wholly owned subsidiaries manufacture specialty industrial and construction products, a complete line of potato harvesting and handling equipment, fluid power components, pneumatic and hydraulic systems, spiral wound metal gaskets, and packing material.

Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TEQI could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.

Contact Information

  • Contact:

    Media:

    New-School Communications
    Blois Olson
    651-221-1999