SEATTLE, June 1, 2007 (PRIME NEWSWIRE) -- Exosphere Aircraft Company, Inc., (Pink Sheets:EXSA) announced today they have begun to occupy and set up their manufacturing facility at Harvey Field in Snohomish, Washington. The completely renovated facility offers a combination of offices, hangar and manufacturing space for the assembly and certification testing of the BD-22S and BD-22 aircraft and has direct runway access for flight testing upon completion of the aircraft.
Exosphere signed a letter of intent to lease the premises on January 9th, 2007. Since that time the building has undergone extensive remodeling to like-new condition. The facility will accommodate the necessary tooling for all manufacturing and testing purposes.
Jim Bede, Exosphere's Director of Aeronautical Design, believes the hangar will be ideal for their current LSA projects: "Harvey Field features amenities for all stages of the manufacturing and sales of the BD-22S and the BD-22. This move will be critical to our successful completion of these revolutionary light-sport aircraft."
Harvey Field (S43) is a public use FAA Designated Reliever Airport located in the Snohomish River Valley in the Puget Sound Region of Washington State. Harvey Field was established in 1944 on the John Harvey Family Homestead.
About Exosphere Aircraft Company
Exosphere Aircraft Company is a light-sport aircraft design and manufacturing company, pioneering new and innovative airplanes for the private builder. Exosphere aims to provide the marketplace with planes that meet the majority of consumer needs, finding ways to incorporate fuel efficiency, weight limitations, plane performance and current design trends into new planes.
Safe harbor statement under the private Securities Litigation reform Act of 1995
This news release contains forward-looking statements, including statements regarding Exosphere's expectations about successfully designing and manufacturing aircraft, expanding its business and securing significant additional customers for its products. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the failure to meet scheduled manufacturing deadlines, the failure to realize the increased revenues and improved operating margins that the Company has associated with the sales of aircraft and airplane parts, the loss of any key personnel, tightening aircraft regulations by the FAA, the loss or non-performance of our sales representatives, unfavorable results of existing and potential litigation, and the possibility that competitors could develop aircraft designs or manufacturing practices that erode Exosphere's favorability in the marketplace. The Company disclaims any obligation to update any such factors or to announce publicly that results of any revisions to any of the forward-looking statements contained in this news release.