Catch the Wind Relinquishes Interest in Falcon Fifty LLC and Related Aircraft

    




 CHANTILLY, VA, Oct. 26, 2011 /CNW/ - Catch the Wind Ltd. ,  providers of laser-based wind sensor products and technology, announced  today that effective October 22, 2011, the Company's wholly-owned  subsidiary, Catch the Wind, Inc. ("CTW"), withdrew its membership in  Falcon Fifty LLC, which was originally formed in September 2009 to  acquire a Falcon 50 aircraft.  As a result, the Company no longer has  any interest in the aircraft. 

 "The mission of this Company is to become the premier provider of  high-performance wind-sensing equipment to the wind turbine industry.  The elimination of the corporate jet removes complexity from the  Company and allows us to be more efficient with our cash, both of which  are positive steps enabling us to execute more effectively," said Jo  Major, interim CEO of Catch the Wind.  "The timing of this action is  right as the Company is progressing into commercial production  commencing this quarter and expanding next quarter." 

 "This withdrawal will benefit the Company as it had been paying  approximately $1.5 million a year for this aircraft. To fully  understand all of the financial impacts, CTW requires access to  information that is currently being withheld by Falcon Fifty LLC," said  Susan Nickey, the Board member appointed to conduct an internal review  of the financial impact of the aircraft to the Company. 

 In order to compel access to the necessary information and for other  declaratory relief, the Company announced that CTW has filed a  Complaint in the Delaware Chancery Court against Falcon Fifty LLC,  Tristar Aviation LLC (Falcon Fifty LLC's sole member) and Tristar  Aviation LLC's  member and its owners, Phil and Alisa Rogers. 

 About Catch the Wind Ltd. Catch the Wind Ltd. is a high-growth technology company headquartered in  Chantilly, Virginia. The company was founded in 2008 to develop and  manufacture the Vindicator(®) laser wind sensor. 

 Catch the Wind serves the commercial market sector for laser based wind  sensor systems, recognized as the "gold standard" in wind measurement.  The company is focused on becoming a major contributor in making clean,  renewable wind energy more affordable and profitable. For more  information, visit www.catchthewindinc.com. 

 Forward-Looking Information This news release includes certain forward-looking statements within the  meaning of Canadian securities laws. Forward-looking statements involve  risks, uncertainties and other factors that could cause actual results,  performance, prospects and opportunities to differ materially from  those expressed in such forward-looking statements. Forward-looking  statements in this news release, include, but are not limited to,  economic performance and future plans and objectives of Catch the Wind.  Any number of important factors could cause actual results to differ  materially from these forward-looking statements as well as future  results. Although Catch the Wind believes that the assumptions and  factors used in making the forward-looking statements are reasonable,  undue reliance should not be placed on these statements, which only  apply as of the date of this news release, and no assurance can be  given that such events will occur in the disclosed timeframes or at  all. In addition to such risk factors, statements provided as of the  date hereof regarding expected performance and results are based on the  assumption that we will be successful in obtaining the prompt return of  our business-critical property from OADS.  Catch the Wind disclaims any  intention or obligation to update or revise any forward-looking  statement, whether as a result of new information, future events or  otherwise. 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release. 

Catch the Wind Ltd.


CONTACT:  Catch the Wind Ltd.                             TMX EquicomClaudia Jaques                                  Philip DaleVice President and General                      Investor RelationsCounsel                                         416-815-0700 ext. 253703-956-6554                                    [e-mail]@catchthewindinc.com     


    

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