CLEVELAND, April 20, 2005 (PRIMEZONE) -- AuGRID Corporation (Pink Sheets:AGRI) announces it has received stamped approval and acceptance from The Embassy of the United Arab Emirates to initiate it's business of electronic product distribution in Dubai and the UAE.
"This is the final stamp needed to open the door on our distribution network of plasmas and other electronic devices in the UAE," said MJ Shaheed, President and CEO of AuGRID Corporation. "Our products were introduced and widely accepted in the marketplace, the UAE is ready for our products and we are ready to deliver."
AuGRID Corporation and its subsidiaries are technology based organizations.
Forward-Looking Statement: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AuGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AuGRID Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to AuGRID Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AuGRID Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AuGRID Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.