TUCSON, Ariz., April 28, 2003 (PRIMEZONE) -- Renegade Venture (NEV.) Corporation (OTCBB:RDVN) today announced that its wholly owned subsidiary, Hamilton Aerospace Technologies, has repainted and performed integration services on several MD-80 series and Boeing 737-series aircraft owned by aviation leasing company Jetran International to put the aircraft into service for Jetran customers. On January 7, 2003, Renegade announced Hamilton's signing of a general terms agreement with Jetran encompassing maintenance and overhaul services for fifty-one (51) large commercial jets.
To date a total of 25 Jetran aircraft have been flown in to Hamilton's Tucson facilities from Mojave and other aircraft storage locations and are awaiting integration and other services and repainting in customer livery. Integration is the process of bridging from the current Maintenance Program that the last operator was using to the manufacturer's program; i.e., Boeing or another FAA Approved Maintenance Program. Integration can include any or all Maintenance tasks, Component removals, Airworthiness Directives & Structural Inspections.
About Jetran International
Founded by internationally famed businessman and financier Oscar Wyatt and his partner, aviation magnate Douglas Jaffe, Jetran International is a fast growing and highly respected aircraft sales, acquisition and leasing firm specializing in the worldwide market for transport category jet aircraft. Jetran currently has a significant inventory of Boeing 737 and McDonnell Douglas DC-9, and MD80-series aircraft along with supporting spares and engines. Jetran helps aircraft operators meet their fleet requirements through acquisition or short- or long-term leasing. They also assist operators to dispose of fleet excess or parked aircraft.
About Hamilton Aerospace Technologies
Hamilton Aerospace currently is Renegade's only operating subsidiary. Hamilton provides maintenance, engineering and modification 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 United Parcel Service, a Boeing Company joint venture, Jetran International, DHL Worldwide Express, Pegasus Aviation, Ryan International Air and Falcon Air Express.
Renegade's member website is located at www.renegadeventurecorp.com, and shareholders and other interested persons are urged to join. Members receive the Renegade Aviation Newsletter, email alerts of press releases and SEC filings, and other great benefits. Membership is absolutely free and it only takes a couple of minutes to join at www.renegadeventurecorp.com/register.htm. 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 annual report on 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.
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