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NavStar Technologies, Inc.: NavStar Shareholder Update -- Potential Revenue From Current Agreements Exceed $100M Over the Next

^{Published on 2009-08-12 06:28:00, Last Modified on 2009-08-12 06:28:08 - Market Wire}
 

ANAHEIM, CA--(Marketwire - August 12, 2009) - NavStar Technologies, Inc. (PINKSHEETS: [ NVSR ]), a multinational firm focused on developing and commercializing asset tracking and monitoring devices for vehicles and high value cargo, today released the following shareholder letter.

Dear Shareholders,

We continue to make significant progress on the customer front and have completed several distribution agreements with partners to represent NavStar in 5 different countries. The typical cycle for us to secure a distribution partner and to recognize revenue is:

 Sales lead Confirm Interest, validate opportunity and access scope Field Trial LOI Business and/or Distribution Agreement Field Trial Technology integration (wireless interface, software customization) Secure PO 

This process takes time and the speed at which we proceed through this cycle has been lengthened by the current economic climate. In spite of these conditions we have been successful with the customers listed below. Every announcement we have made is a valid customer relationship and valid revenue opportunity.

To give you a snap shot of our customer status, I have prepared the following summary:

 Potential Revenue Customer Country Potential Timeframe Status -------- ------- --------- --------- ------ Fixed Group Ecuador $ 3.0M Now Secure PO GF&T Mexico $30.0M Fall 2009 Distribution Agreement NavMex Mexico $ 1.0M Now Secure PO Diamante Mexico $ 1.0M Now Secure PO Anything Trucking United States $30.0M Fall 2009 Distribution Agreement Haeng Bo Cha Japan $30.0M 2010/2011 Joint Venture Lee & Associates Korea $15.0M 2010/2011 Discussion Acquisition Software Company N/A $20.0M August 2009 In Negotiation 

We are working on several additional customer opportunities that will be announced later this month.

We are as anxious as you are to report real revenue and to see the stock price reflect the true value of our company. We expect the initial PO from Ecuador either this month or early next month as the field trial is completed. Revenue in 2009 should be between $2.0 and $5.0M.

NavStar is still seeking $2.0M to $3.0M in longer term financing. We are approaching this fund raising on several fronts and remain optimistic that significant funding will be available in the next several months.

In the coming weeks our press releases will consist of topics relative to NavStar Technologies' previously mentioned negotiations, our funding efforts and more details about our plans for 2009 and beyond. We do listen to our shareholders, and are working hard to build value for you and for NavStar.

 Sincerely, N. Douglas Pritt Chairman & CEO NavStar Technologies, Inc. 

FORWARD-LOOKING STATEMENT

This press release contains forward-looking statements within the meaning of US federal securities laws, that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release.

About NavStar Technologies, Inc.

NavStar ([ www.navstarinc.com ]) is focused on the creation of products and services that provide tracking and monitoring of vehicles and high value cargo, equipment, and other valuable and personal assets.