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MP2 Technologies: MP2 Technologies' Subsidiary, Weatherly Aircraft, Reaches Agreement to Sell Assets to NAFTAA

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^{Published in Business and Finance on Monday, July 13th 2009 at 7:17 GMT, Last Modified on 2009-07-13 07:17:19 by Market Wire}  

IRVING, TX--(Marketwire - July 13, 2009) - MP2 Technologies (MP2) (PINKSHEETS: [ MPTO ]) announced today that its wholly owned subsidiary, Weatherly Aircraft Nevada, Inc.(Weatherly), to assure the proper funding of the remaining effort to bring the Weatherly aircraft to full production, has come to final terms to sell Weatherly manufacturing assets to NAFTAA (North American Factory for Technologically Advanced Aircraft, Inc.), formerly Symphony Aircraft. Weatherly officials and its parent, MP2, stated that this sale takes another step toward proving MP2's business model of "turning vision into value" by creating an aircraft company within a 6 month period from a myriad of components that included acquiring manufacturing equipment and aircraft parts, hiring former Weatherly and Bogalusa, LA personnel, and acquiring a 50,000 sq. ft. facility in Bogalusa (at very favorable terms) in which to build the aircraft.

It this latest announcement, Weatherly Aircraft made it clear that the quickest and least risky way of getting the Weatherly aircraft to full production was to find a buyer that had both the aviation background to move quickly to obtain the necessary FAA approvals and that also had the resources (estimated at $3 million) to finish the task of building the aircraft parts and move into full aircraft manufacturing status.

The Company further stated that this sale offers the opportunity to greatly expand aircraft production in Bogalusa, LA, which was struck hard by Hurricane Katrina (The city provided significant incentives to bring Weatherly Aircraft to the city earlier this year). Now the expectation is that NAFTAA, formerly known as Symphony Aircraft, will bring production of their aircraft to Bogalusa as well, creating more jobs and more revenue to the city.

Patrick Thomas, President of MP2 Technologies, stated, "This announcement demonstrates that MP2 had the resources to build a company and create real value. It also brings much needed capital to MP2. When completed, the Agreement is intended to bring new jobs and tax revenue to an area hard hit by Hurricane Katrina. We thank all of the people in Bogalusa who have invested in our company and have supported the company's development. We believe this next step in the development of the Weatherly and Symphony aircraft will be a real boon to the city's economic development efforts."

MP2 Technologies, Inc. serves as a holding company for technology and service related businesses that can share common management resources and access to marketing channels. New acquisitions will be announced over time as opportunities that fit the company's acquisition profile become available. Acquired companies will benefit from MP2's public company expertise, executive management, and sales and marketing contacts throughout the world. More information on the company can be found at their website at [ www.mp2technologies.com ].

Safe Harbor Act Disclaimer: Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.