KIEV, Ukraine, Sept. 14, 2005 (PRIMEZONE) -- UA International Group (Pink Sheets:UAIG), a Ukrainian infrastructure, water delivery and maintenance and real estate development company, today announced that it has entered into a service agreement with Grundfos, ITT Industries and Danfos to provide construction, water pumps, water supply, large- and medium-sized power capacity technology and fire retardant systems in 26 complexes in 2 commercial and residential buildings totaling 200,000 square meters in Kiev City Central.
Vitaly Zhygun, President of UA International Group, Ltd., commented, "We are pleased that these well respected international companies have chosen to work with our firm to supply crucial infrastructure support and services in Ukraine. The contract is worth $400,000.00 in initial income and will provide ongoing revenues from service and maintenance. UAIG has a long-standing relationship with these firms and will engage in additional contracts with these companies in the future."
Grundfos is an international company based in Germany with expanding business activity in providing full service and various sizes of water pumps and support technology.
ITT Industries is an international industrial company specializing in large capacity water pump and delivery technology.
Danfos is an international company based in Denmark which produces control systems for water delivery and maintenance.
UA International Group is the contract service provider for these companies in Ukraine. UAIG specializes in the construction, delivery and maintenance for the pumps, systems and technology provided by these firms utilizing its own methodology and expertise.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. In particular, information in this release relates to the terms of a merger transaction which is contingent on shareholder approval and the effectiveness of a registration statement on Form S-4 to be filed with the SEC.