Airtrax Signs Memorandum of Understanding to Establish Foothold in Eastern European and Balkan Countries

Tuesday July 19, 8:00 am ET

HAMMONTON, N.J., July 19 /PRNewswire-FirstCall/ -- Airtrax, Inc. (OTC Bulletin Board: AITX - News), a developer of patented, omni-directional technology with military and commercial applications, announced today that the Company has entered into a memorandum of understanding (MOU) with Lena Deros of OmniLink, a Greek corporation, who will serve as an international representative ("representative") of the Company focused on facilitating new business partnerships and opportunities, including the introduction of products and services for the global logistics and material handling industry.

According to the MOU, the parties will prepare an agreement for the purpose of distributing Airtrax's omni-directional forklifts, aerial lifts and multi-purpose handlers plus Filco GmbH lift trucks and other material handling products, and support services, including marketing, selling, and vehicle maintenance, throughout Greece, Croatia, Bosnia, Slovenia, Bulgaria, Romania, Serbia, Montenegro and Albania. The parties plan to enter into a formal contract which will be comprised of companies with established operations in the region having materials handling as part of their daily operations.
Lena Deros of OmniLink states, "We anticipate that Airtrax's omni- directional line of products will benefit these countries. We believe that the high logistic costs of material handling equipment may be scaled back with increased reliability, managed energy consumption and storage capacity provided by Airtrax's unique technology. We are working to create viable distribution channels throughout Eastern Europe and the Balkan countries by establishing sustainable relationships with business and political gatekeepers throughout the region."

CEO of Airtrax Peter Amico stated, "This MOU with OmniLink continues Airtrax's strategy of building a worldwide distribution network. With production centralized in the United States and Germany, Airtrax has the potential to further our vehicle distribution throughout both Western and Eastern Europe, where we believe economies of scale are creating high market demand for efficient equipment."
About Airtrax, Inc.

A U.S.-based developer of omni-directional technology, Airtrax designs and manufactures omni-directional vehicles. The Airtrax patented wheel was designed and developed by Airtrax after receiving a technology transfer from the US Navy in the form of a Cooperative Research and Development Agreement (CRADA).
The SIDEWINDER(TM) Omni-Directional Lift Truck and the Airtrax-MEC Cobra(TM) aerial work platform (AWP) are the first omni-directional vehicles using omni-directional technology and the patented Airtrax wheel to be commercially produced. The nearly maintenance-free design also reduces maintenance costs, delivering cost efficiencies to companies both large and small. The Airtrax patented Omni-Directional wheel is manufactured exclusively for Airtrax vehicles. For more information and to view a must-see product demonstration, visit .

The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

For more information, contact:
OTC Financial Network
Gary Geraci
Investor Relations
617-723-2373
gary@equityperfgp.com
See also http://www.otcfn.com/aitx
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Source: Airtrax, Inc.

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