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For Immediate Release
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Company Contact:
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Trevor M. Saliba
CirTran Corporation
+(310) 492-0400
trevor@cirtran.com
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CirTran Signs an Exclusive Manufacturing Agreement valued at $5.4
Million for a New Fitness Product
CirTran to exclusively manufacture a new fitness product for an Ohio
based company with revenue in the first three years of $5.4 million
based on minimum requirements
SALT LAKE CITY, November 30, 2006- CirTran Corporation (OTC BB: CIRT), an
international full-service contract manufacturer, marketer and distributor of
IT, consumer and consumer electronics products, today announced that is has
signed an exclusive manufacturing agreement to produce a new fitness product in
China. The three-year agreement, signed November 28, involves the custom
manufacturing using the capabilities of CirTran's wholly owned subsidiary,
CirTran Asia. The new customer has committed to minimum orders, amounting to
$1.2 million in revenues for the first year, $1.8 million for the second year
and $2.4 million for the third year of the five-year contract.
The new fitness product is uniquely designed to strengthen and rehabilitate the
lower back and adjacent areas of human body.
Iehab J. Hawatmeh, CirTran's chief executive officer, commented, "Americans
continue to be receptive to innovative ways to improve their health and fitness,
and we are confident this product should receive the same sort of reception. In
particular, consumers with lower back pain should find this product of interest.
We believe there is a large and motivated audience, and are cautiously
optimistic that volumes will exceed stated minimums in the near term."
The new customer is preparing its own infomercial, which is expected to debut in
the first calendar quarter of 2007 nationwide. Preliminary testing of the
product with focus groups has indicated a high probability for direct marketing
success.
About CirTran Corporation
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CirTran Corporation (OTC BB: CIRT, www.CirTran.com) is a consumer
products-driven Company focused on providing the entire spectrum of "Concept to
Consumer" services, encompassing engineering, design, prototyping, low and
high-volume contract manufacturing, marketing and retail distribution for
consumer-oriented products and technologies. Founded in 1993 and headquartered
in Salt Lake City, CirTran's 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. CirTran's Racore
Technology (www.racore.com) subsidiary provides sophisticated engineering
services, including technology design and prototype development. CirTran's
wholly-owned subsidiary CirTran-Asia ("CTA") with principal office in Shenzhen,
China, is a high-volume manufacturing arm, which provides customers with the
economic benefits of Asian offshore manufacturing coupled with American-based
project management and accountability. CirTran's Diverse Media Group (DMG)
(www.diversemediagroup.com) subsidiary is a Direct Entertainment(TM) firm
specializing in multi-channel product marketing, media purchasing, retail
distribution and product fulfillment for the direct response and entertainment
industries.
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.
All trademarks are properties of their respective owners.
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