LOS ANGELES, CA -- (MARKET WIRE) -- November 1, 2006 -- Save the World Air, Inc. (
The Company's wholly-owned subsidiary, STWA Asia Pte. Limited, and PT CCI have entered into a Distribution Agreement under which PT CCI has agreed to establish a letter of credit to support its initial order of 10,000 units, which order will be placed before November 30, 2006. The Distribution Agreement provides that PT CCI is required to purchase 600,000 devices over a five-year period in order to remain the exclusive distributor of the Company's products in Indonesia.
Bruce McKinnon, President of Save the World Air, stated, "This distribution agreement is the result of a successful testing program undertaken by STWA and CV Indako Trading, in Medan Indonesia. CV Indako Trading is a major Honda Distributor in Indonesia and an affiliate of PT CCI. STWA is pleased to add PT CCI to its distributor base."
Arifin Posmadi, Director of PT CCI, added, "We will first focus on supplying MAG ChargR devices to the motorcycle aftermarket because the people of Indonesia desperately need relief from the rising cost of gasoline and air pollution. Our initial market focus will be in Jakarta, Medan, Yogyakarta, Surabaya and Bandung. We are privileged to be Save the World's Air's exclusive distributor in Indonesia."
STWA is also continuing its marketing efforts to governmental entities in Indonesia and internationally in cooperation with the United Nations Environmental Programme.
About Save the World Air, Inc.
Save the World Air, Inc. is currently engaged in the product development, initial sales and marketing of devices using proprietary technologies that can be installed on motor vehicles, motorcycles and stationary engines to reduce harmful emissions caused by internal combustion engines, as well as improve fuel efficiency and/or improve performance. The company's patented ZEFS™ devices have been shown to reduce harmful emissions, improve both fuel efficiency and enhance engine performance in repeated independent laboratory testing. The company's patent-pending CAT-MATE® devices have been shown to reduce harmful emissions in repeated independent laboratory testing. For more information, visit the company's websites at www.stwa.com, www.magchargr.com and www.stwaperformance.com.
Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, such factors as market acceptance, ability to attract and retain customers, success of marketing and sales efforts, product performance, competitive products and pricing, growth in targeted markets, risks of foreign operations, and other information detailed from time to time in the Company's filings with the United States Securities and Exchange Commission.