TUCSON, Ariz., March 30, 2004 (PRIMEZONE) -- Renegade Venture (NEV.) Corporation (OTCBB:RDVN) today announced that its wholly owned subsidiary, Hamilton Aerospace Technologies, signed a new contract with major customer, Jetran International. This latest project involves a heavy maintenance check, paint, and other return-to-service work on another former US Airways Boeing 737 aircraft owned by Jetran. The estimated value of this maintenance contract is $600,000, which Hamilton Aerospace expects to complete and book in the 2nd quarter. This contract is the latest in a series of aircraft maintenance projects that Hamilton Aerospace has performed for Jetran, an aircraft leasing company that purchased 91 commercial jet aircraft from US Air in April of 2002.
John Sawyer, Renegade and Hamilton Aerospace President, stated, "November of last year, we decided to focus on signing only those aircraft maintenance contracts that we knew ahead of time had a high likelihood of success. We are very pleased to sign this latest B737 "D" check because not only do we have a good working relationship with Jetran, but also because we have become much more familiar with what to expect when servicing their fleet of ex-US Air aircraft. The timing of this contract is also ideal in that it keeps our shop at full capacity, but not overbooked."
About Renegade Venture
Through its Hamilton Aerospace subsidiary, Renegade provides maintenance, repair and overhaul (MRO) services for large passenger jet aircraft to scheduled and charter airlines and aviation leasing companies. Hamilton Aerospace holds a Federal Aviation Administration (FAA) Part 145 Air Agency Certificate, which allows it to perform such services. Hamilton operates from facilities comprising about 21 acres located at Tucson International Airport. These facilities include hangars, workshops and other buildings. Notable Hamilton customers include Jetran International, United Parcel Service, a Boeing Company joint venture, Goodrich Corporation, DHL Worldwide Express, Pegasus Aviation, Ryan International Air, Space World, Asia Pacific and Falcon Air Express.
Renegade's member website is located at www.renegadeventurecorp.com. The Hamilton Aerospace website is located at www.hamaerotech.com.
Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations thereunder. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the airline industry, demand for Hamilton Aerospace's services, competitive pricing pressures, and the availability of necessary financing. In addition, other risks are detailed in Renegade's Form 10-KSB filed on April 15, 2003. These statements speak only as of above date, and Renegade disclaims any intent or obligation to update them.