MUKILTEO, Wash., Aug. 28, 2002 (PRIMEZONE) -- Modern MFG Services, Inc. (OTCBB:MMFS) (Modern) is pleased to announce the completion of phase one of its funding requirements. This funding will allow the company to meet its objectives announced in the May 14, 2002 press release, specifically the acquisition of Integrated Maritime Platforms International Inc. "We are very excited about moving forward with the acquisition of Integrated Maritime Platforms International Inc.," says Modern MFG Services Inc. President and CEO Roger Janssen. "In concluding this funding we will immediately begin design and development on the prototype craft as requested by the US Navy. We have received many requests for information on the GB Craft to be used in various applications throughout the continental United States as well as internationally, since our first announcement of the project on May 14. It is our intention to meet with these organizations within the coming weeks to discuss their specific requirements and demonstrate to them our ability to provide a Craft that meets their specifications," concludes Mr. Janssen.
Integrated Maritime Platforms International Inc. is the designer, developer and manufacturer of the GB-Challenger Class Craft, a high-speed, long-range multi-mission coastal patrol craft with interchangeable mission modules. Please see the company's web site for more information on this exciting project.
More information will be released as it becomes available.
For further information, please contact: Modern MFG Services, Inc. 1-425-315-1772 or via our website at www.modernmfg.com.
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