NEW YORK, March 1, 2006 (PRIMEZONE) -- Vitasti, Inc. (OTCBB:VITS) (the "Company") is pleased to announce that it has entered into negotiations and signed a Letter of Interest ("LOI") with Welwind Energy International Corporation of Calgary, Alberta ("WEI") for the development of up to 1200 MW's of wind power in the Guangdong and Lianoning Provinces in mainland China.
As the leading manufacturer of products for various global markets, China is highly dependent on energy for production and has a strategic need to ensure stable and sufficient energy resources to carry them forward as a world leader. For the last 20 years their economy has grown faster than any other country, straining their electrical resources and environment. Tremendous opportunities in the Asian market are on the verge of becoming a reality for producers of alternative energy.
The wind industry in particular is being utilized to be a major part of this mitigation by offsetting an estimated 20,000 megawatts currently generated with coal as the primary source.
Greenpeace, in conjunction with the European Wind Energy Association and China Renewable Industry Association, conducted a research report that the wind resource in China is sufficient to surpass the country's current power generation in future decades. According to the report, China is taking substantial steps to reduce the risks associated with large scale commercial development and integration of wind power into their fuel supply portfolio.
Laws and national policies have been passed to ensure that wind development proceeds with minimal impediments in all of China's Provinces.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.