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For Immediate Release
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Company Contact: Press Contact:
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Trevor M. Saliba David A. Kaminer
CirTran Corporation The Kaminer Group
+(310) 492-0400 +(914) 684-1934
trevor@cirtran.com dkaminer@kamgrp.com
CirTran Corporation Names Richard T. Ferrone as CFO
SALT LAKE CITY, May 11, 2006 -- CirTran Corporation (OTC BB: CIRT), a
full-service contract manufacturer of IT, consumer and consumer electronics
products, today announced the appointment of Richard T. Ferrone, C.P.A., as its
chief financial officer.
The announcement was made by Iehab J. Hawatmeh, founder and president of
CirTran, to whom Mr. Ferrone reports in his newly-created position.
"CirTran's growth is substantial and widespread, and the company needed a
senior level financial professional to help manage and administrate that
growth," said Mr. Hawatmeh. "As we continue to add profit centers and subsidiary
companies and diversify our marketing and manufacturing activities, Richard
Ferrone should be an immediate and long-term asset to our expanding growing
global organization."
Prior to joining CirTran, Mr. Ferrone had headed his own accounting firm
- - Ferrone & Associates - which he established in Salt Lake City in 1994.
Previously, he was vice president and CFO for then-publicly-held GCI Industries,
Inc./Golf Card International for seven years, and served as CFO of the Huntsman,
Christensen Real Estate & Development Co. Mr. Ferrone had also served as vice
president and chief financial officer for BSD Medical Corporation (AMEX: BSM)
after beginning his career with Hansen, Barnett & Maxwell CPAs in Salt Lake
City.
Mr. Ferrone has a B.S. in Accounting from the University of Utah, where
he also studied for a Master of Professional Accountancy with a tax emphasis. He
resides with his family in suburban Salt Lake City.
About CirTran Corporation
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Founded in 1993, CirTran Corporation (OTC BB: CIRT, www.CirTran.com) is a
premier international full-service contract manufacturer. Headquartered in Salt
Lake City, its ISO 9001:2000-certified, non-captive 40,000-square foot
manufacturing facility is the largest in the Intermountain Region, providing
"just-in-time" inventory management techniques designed to minimize an OEM's
investment in component inventories, personnel and related facilities while
reducing costs and ensuring speedy time-to-market. In 1998, CirTran acquired
Racore Technology (www.racore.com), founded in 1983 and reorganized as Racore
Technology Corporation in 1997. In 2004, it formed CirTran-Asia as a high-volume
manufacturing arm and wholly-owned subsidiary with its principal office in
ShenZhen, China. CirTran-Asia operates in three primary business segments:
high-volume electronics, fitness equipment and household products manufacturing,
focusing on the multi-billion dollar Direct Response Industry.
This press release contains forward-looking statements within the meaning of
section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. With the exception of historical information contained
herein, the matters discussed in this press release involve risk and
uncertainties. Actual results could differ materially from those expressed in
any forward-looking statement.
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