SOURCE: WanderPort Corporation

March 02, 2010 08:00 ET

Wanderport Signs a Sales and Distribution Agreement for Eastern-Europe

NEW YORK, NY--(Marketwire - March 2, 2010) -  Wanderport Corp. (PINKSHEETS: WDRP) today announced that it has concluded a definitive sales and distribution agreement with Ovaks Ltd. of the Republic of Belarus.

Established in 1994, Ovaks Ltd. began supplying residential and commercial construction companies insulation and other essential material for the construction industry. In 2003, the company acquired the exclusive Eastern-European distribution rights to penopolisterol, (foam plastic found between two steel panels which guarantees a high degree of insulation from heat and sound), manufactured by Mosstroy-31 Ltd., of Moscow, Russia. Since 2005, Ovaks Ltd. has been involved in building and designing hundreds of new homes featuring construction techniques according to energy efficient methods learned while working closely with the Vitebsk Selstroy Institute. Ovaks has been doing business with construction companies stretching from Russia and Ukraine to Kazakhstan, building homes and supplying them various construction materials and tools.

"Ovaks Ltd. is perfectly positioned to penetrate the East-European marketplace because once a product receives certification approval by Belarus, then the certification is automatically accepted and approved by Russia, Ukraine and Kazakhstan thereby, facilitating product market entry to those countries," stated Mr. Serge Slizki, CEO of Ovaks Ltd.

Considering the Russian water heating equipment market value increasing more than two and a half times in the last four years and bearing in mind a 24% growth in the volume of imported water heating units within the first six month of 2009 for the electric storage water heater segment, Ovaks believes it is poised to capture a large portion of the East-European market with Wanderport's microwave energy tank-less water heater. Ovaks' contract term is for a five year period and includes the countries of Belarus, Russia and the Ukraine. Sales commitments are estimated at 62,000 units at an approximate cost price of $450 USD per unit for a total of $27,900,000 in revenue over the course of that same period. "For the last few years since receiving our award at the 2005 T.I.P.T.A show in Toronto, Robert Simoneau, product licensor, had the opportunity to get to know Ovaks Ltd. Their emphasis on energy efficient technologies and their existing sales channels within the East-European construction industry made this distribution agreement a natural fit, as a predominant portion of Wanderport's target market is pointed to the residential and commercial construction industry," said Richard Martel, Wanderport's President and CEO.

About Wanderport Corporation: Wanderport Corporation is a holding and business development company making investments, acquiring licenses and deployment of environmentally friendly "Green" technologies such as, primary alternative, renewable energy and energy saving products namely Pulsar's microwave energy tank-less water heater, which reduces water and energy consumption as well as global dependence on oil. Pulsar Advanced Technologies Inc. was the proud recipient of the 2005 T.I.P.T.A award (TCA; Toronto Construction association, Innovative Product and Technology Award), recognizing excellence in innovation in product or technology development, or its application of its microwave energy tank-less water heater.

Important Information About Forward-Looking Statements: Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts.

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