ELGT Electric and Gas Technology Inc (CE)

Electric & Gas Technology, Inc. (OTCBB:ELGT) today announced a new product for the oil & gas industry. Daniel A. Zimmerman, President and CEO of ELGT, said, "We felt it noteworthy to announce the introduction of a new product by our Reynolds Equipment Company subsidiary. The product is a line of 'meter houses' used widely in the upstream oil and natural gas industry. These knockdown shelters are used to protect gas metering and regulating stations from the elements at the well head to city gate locations. The product gives us more exposure in the upstream market which has recently become extremely active. We intend to develop distribution channels in this sector of the industry using these buildings as our introduction for other products that have traditionally been targeted toward the downstream gas utility customer." Zimmerman continued, "The fact that these buildings are 100% sheet metal content and are fabricated by our Logic Metals Technology, Inc subsidiary is of additional significance to us. This continues to demonstrate the leverage and success that our consolidation strategy is bringing to ELGT. The initial contract is for approximately $50,000 per month. We estimate that annual sales of this product could exceed $1,000,000 without the affect of follow-on sales of other products." Electric & Gas Technology, Inc. (ELGT) is a publicly traded company that, through its subsidiaries, operates in two main areas: (1) Utilities Products and (2) Contract Manufacturing. This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, which represents the Company's expectations or beliefs concerning, among other things, future operating results and various components thereof and the adequacy of future operations to provide sufficient liquidity. The Company cautions that such matters necessarily involve significant risks and uncertainties that could cause actual operating results and liquidity needs to differ materially from such statements, including, without limitation: (i) increased competition, (ii) the price-sensitive nature of product demand, (iii) the Company's dependence upon favorable pricing from its suppliers and (iv) other risks indicated herein and in filings with the SEC.