SEATTLE, Nov. 29, 2005 (PRIMEZONE) -- Madison Bay Holdings, Inc., (Pink Sheets:MDBY) a manufacturer and distributor of Recreational Vehicles, Powerboats and Leisure Watercrafts, announced that a National Marketing campaign has been launched for the Stiletto RV offered by Summit Coaches, a division of Madison Bay Holdings, Inc.
The marketing campaign will involve a coordinated effort to establish a National dealer network for the Stiletto RV and other product offered by Summit Coaches. The emphasis shall be to target existing dealers in key market areas that currently sell recreational vehicles, motor homes, trailers, marine products or other compatible products to the Stiletto RV.
Over 2.2 million dollars was spent on the development of the prestigious Stilleto RV. This marketing campaign will be targeted to attract qualified dealers to carry the high-end, leading edge Stilleto RV.
It is expected that select dealers will be established in key market areas throughout the United States and Canada. Dealers shall be awarded large territories and located strategically throughout the United States to provide broad market penetration and brand awareness on a National level. Since the Stiletto and other models will have an average selling price in the range of $60,000 to over $100,000, only a limited number of dealers will be established to reach annual sales in excess of $8,000,000 to $10,000,000.
Ricardo Ruelos, Chairman and CEO of Madison Bay Holdings, commented, "With the molds and equipment being moved to Platypus Marine this week, and the manufacturing and operations moving progressively, I am excited about increasing the marketing efforts for Summit Coaches and Madison Bay Holdings. The establishment of a National and International Dealer network is not a difficult task for Madison Bay Holdings as this has been a major portion of our business involvement for over thirty years."
"Our Dealer Agreements are drafted and we have already started contacting dealers throughout the country to review potential in specific market areas. We are preparing to forward dealer packages to several other dealers throughout the United States and will be placing media advertisements in trade magazines and consumer magazines to support our dealer efforts. As the Stiletto RV and other models of the Summit Coach product line are distributed selectively throughout the country the consumer demand and sales will increase and we will continue to add dealers as production capability increases."
For more information about Platypus Marine, Inc., please visit www.platypusmarine.com.
About Madison Bay Holdings, Inc.
Madison Bay Holdings, Inc. is a marketer and distributor of Recreational Vehicles, Powerboats and Leisure Watercraft. The Company owns all equipment, designs and trademarks of Summit Coaches, the Recreational Vehicle (RV) division that specializes in manufacturing, marketing and selling upscale and feature-oriented RV trailers, including a flagship 38-foot RV, the "Stiletto". Madison Bay Holdings' marine division is involved in boutique leisure product distribution. Madison Bay Holdings also provides a variety of financial, marketing, and sales consulting services to boat manufacturers, dealers, distributors and leisure product/water sport companies.
For more information on the company and its newly appointed advisory board please visit the website www.madisonbayholdings.com.
Safe Harbor statement under the private Securities Litigation reform Act of 1995
This news release contains forward-looking statements, including statements regarding the Company's expectations about successfully selling its products and about the positive effects of the acquisition described herein. 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 realize the increased revenues and improved operating margins that the Company has associated with sales of our products, the loss of any key personnel, our inability to introduce new products that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of potential litigation, and the possibility that competitors could develop or acquire technology that could erode the Company's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.