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Wednesday June 30, 8:59 am Eastern Time
Company Press Release
Groen Brothers Aviation Accepts First U.S. Gyroplane
Order
SALT LAKE CITY--(BUSINESS WIRE)--June 30, 1999--Groen Brothers Aviation Inc., (GBA) (OTC BB:GNBA - news) Wednesday
announced that it has accepted its first U.S. order for delivery of an FAA Type Certified Hawk 4 Gyroplane.
The order includes a 10% cash deposit on the base purchase price of $295,000. The order came from a businessman based in San Diego,
California. GBA expects FAA Type Certification of the Hawk 4 to be completed in the spring of 2001, with deliveries to follow soon
thereafter.
GBA will introduce its four place, 350 hp Gyro at AirVenture '99 in Oshkosh, Wisconsin, next month, where they will have two
production Hawk 4 Gyros on display.
Groen Brothers Aviation is a fully reporting publicly traded corporation, trading over the counter on the OTC Bulletin Board, stock
symbol, ''GNBA.'' For further information you can contact GBA through its web page at, ''www.groenbros.com'' or by e-mail at
''mktg@groenbros.com'' or at its corporate headquarters: Groen Brothers Aviation Inc., 2640 West California Ave., Suite A, Salt Lake
City, Utah 84104-4593.
Forward-looking Information Disclaimer
Forward-looking information is subject to risk and uncertainty. Certain statements in this Press Release may contain ''forward-looking''
information that involves risk and uncertainty, including projections for deliveries, sales, research and development expense, and other
trend projections.
Actual future results and trends may differ materially depending on a variety of factors, including the company's successful execution of
internal performance plans; product performance; risks associated with regulatory certifications of the company's commercial aircraft by the
U.S. and foreign governments; other regulatory uncertainties; collective bargaining labor disputes; performance issues with key suppliers
and subcontractors; governmental export and import policies; and the ability to adequately finance operations to the date of FAA
certification.
Contact:
Groen Brothers Aviation Inc., Salt Lake City
GBA Marketing, 801/973-0177
www.groenbros.com
More Quotes and News:
Groen Brothers Aviation Inc (OTC BB:GNBA - news)
Related News Categories: aerospace/defense, leisure/travel
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