VINELAND, N.J., Sept. 27, 2006 (PRIMEZONE) -- AuGRID is pleased to announce that it has arranged through its strategic partner, Primergy International Hong Kong, a working document with a Hong Kong based OEM to finalize the specifications of AuGRID's new Optipure high-end Plasma HDTV Line.
Arrangements have been made for MJ Shaheed, President and CEO of AuGRID to lead a team of technicians to travel to Hong Kong and personally oversee the quality control process and design specifications. The Optipure line will offer "brand-name quality plasma TV's at less than brand-name prices." This state-of-the-art product line will be showcased on its soon to be developed e-commerce site as well as being available in the traditional retail distribution market.
"Electronics has always been the foundation of AuGRID and we are very excited to have the opportunity to introduce the new Optipure line targeted for the upcoming holiday season," stated Mr. Shaheed. "This plasma line should be a significant revenue source for our company."
AuGRID has already engaged a web developer to implement this comprehensive e-commerce site for Optipure.
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.