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Air Water International Corporation: Air Water International Corporation Announces a Major Legal Development: US Superior Court

^{Published on 2009-01-23 08:20:12, Last Modified on 2009-01-23 08:21:07 - Market Wire}
 

MIAMI BEACH, FL--(Marketwire - January 23, 2009) - Air Water International Corporation (PINKSHEETS: [ AWTI ]) announces today that in an expected legal development, a superior court judge in California has issued an order for Hendrx Corporation to immediately transfer the shares of ownership of its subsidiary Fujian Yuxin Electronic Equipment Company limited of Fujian, China to Worldwide Water, LLC. This major legal move follows the judgment obtained earlier last year (April 11th, 2008) against Hendrx Corporation in the amount of some $1.2 million. Air Water Corporation will continue to press its claims for more than $2 million in sustained losses and damages resulting from Fujian Yuxin's repeated deliveries of faulty and sub-standard machines to Air Water's customers.

In a statement issued in Miami today, company CEO Michael Zwebner said: "We believe that this major court order / award will bring some clarity and forward progress to matters relating to Fujian Yuxin Electronic Equipment Co, Ltd. Despite repeated approaches and countless demands, Yuxin directors and company officials have deliberately ignored all legal notices, as well as all commercial approaches for a settlement of multiple claims that have been made by many dealers and distributors worldwide. Hopefully this new scenario and change of legal ownership will bring about a more commercial approach to Yuxin's dealings with its contracted customers."

Jalimudi Village Project

For the villagers of Jalimudi, a small village in Andhra Pradesh, it is a historic event. They are getting water from the air thanks to modern day technology. Jalimudi is the first village in the world to have a sustained water supply that is not from the sea, river, lake, pipeline, well, or transported by water tankers and trucks.

Video of the project can be found at [ http://www.youtube.com/watch?v=rzAkc6otyGI ] and also on the company's website.

About Air Water Corporation

Air Water Corporation designs and manufactures a wide range of air to water machines and systems that can offer consumers from 25 liters to over 5,000 liters of pure filtered drinking water daily. The company manufactures the machines in several global manufacturing locations, and markets and distributes the entire range of its machines and systems on a worldwide basis. For further information visit our web address: [ http://www.airwatercorp.com ].

Safe Harbor Statement

Caution Concerning Forward-Looking Statements by Air Water International Corporation. This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and factors affecting the integration of the businesses of Air Water International Corporation. More detailed information about these factors may be found in filings by Air Water International Corporation with the Securities and Exchange Commission, including their most recent annual reports on Form 10-KSB and quarterly reports on Form 10-QSB. Air Water International Corporation is under no obligation to, and expressly disclaims any such obligation to, update or alter their forward-looking statements, whether as a result of new information, future events, or otherwise.