TUCSON, Ariz., Aug. 27, 2002 (PRIMEZONE) -- Renegade Venture (NEV) (OTCBB:RDVNE) Corporation, a public Nevada corporation announced today that its wholly owned subsidiary, Hamilton Aerospace Technologies, has signed a contract with a major leasing company and is completing "B" checks and beginning a "C" check for Falcon Air Express.
The contract signed with the major leasing company is for the completion of a Boeing 727-200 "D" check with work commencing on Aug. 20. The expected gross for this project will be approximately $500,000. The aircraft is being delivered to a major freight forwarding company.
According to Ian Herman, Renegade's Chairman and CEO, Hamilton Aerospace Technologies is also scheduled to complete one in a series of several "B" checks for Falcon Air Express this week. The work is being delivered on-time and on-budget. Upon completion, scheduled for Wednesday, work will begin on a Falcon Air Express Boeing 727-200 for a "C" check. The work is estimated at $750,000.
About Hamilton Aerospace Technologies
Hamilton Aerospace provides maintenance, engineering and modifications for large passenger jet aircraft. Clients include scheduled and charter airlines, aviation leasing companies and government entities. The Federal Aviation Administration (FAA) on May 6, 2002, awarded Hamilton Aerospace its own Part 145 Air Agency Certificate, which allows it to perform such services. Hamilton Aerospace operates from leased facilities comprising about 21 acres located at the Tucson International Airport. These facilities include hangars, workshops and other buildings.
Hamilton's website can be found at www.hamiltonaerospacetechnologies.com.
Except for the historical information presented herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995, or by the Securities and Exchange Commission in its rules, regulations, and releases. These forward- looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks include the economic health of the airline industry and concomitant demand for Hamilton's services, competitive pricing pressures for Hamilton's services, and the availability of financing to complete management's plans and objectives. In addition, other risks are detailed in Renegade's current report on Form 8-K filed on May 9, 2002. These forward-looking statements speak only as of the date hereof. Renegade disclaims any intent or obligation to update these forward-looking statements.
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