Airtrax Establishes Italian Distributorship

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Airtrax anticipates the Cobra scissor lift will be distributed in Italy once it is available.

December 28, 2007 • Airtrax, Blackwood, N.J., developer of the patented omni-directional technology, announces it has signed a Memorandum of Understanding (MOU) with Connect Group Italia srl to establish an exclusive distributorship in

Italy

for its Sidewinder™ lift trucks.

As a result of the agreement, four Sidewinder ATX-3000 lift trucks have been sold for delivery in first quarter 2008. An additional 20 units are expected to be sold by year-end 2008. The companies anticipate the Cobra™ aerial work platforms also will be distributed in Italy as soon as they become available.

The distribution agreement between the two companies is expected to be finalized in February 2008. As per the terms of the MOU, Connect Group will be doing business as “Airtrax Italia,” having the exclusive rights to market and distribute Airtrax products to a network of material-handling dealerships throughout Italy. Airtrax Italia also will be responsible for establishing and training a network of dealers with considerable experience in selling and servicing industrial equipment.

“We are encouraged at the onset of this new distributorship after having sold an initial four Sidewinder lift trucks and after having received an indication of significant interest of additional future sales,” said Robert Watson, chief executive officer of Airtrax. “Airtrax Italia builds upon the foundation of a global distribution network, which includes an established and growing U.S. dealer network. It is critical to our ongoing sales efforts that Airtrax continues to grow and maintain a strong, well trained global distribution network, especially as we prepare to expand our product line in 2008.”