BAT Finalizes Agreement With World Transport Authority
5 April 1999
BAT Finalizes Agreement With World Transport AuthorityCHULA VISTA, Calif., April 5 -- BAT International (OTC Bulletin Board: BAAT), an advanced research and development company in the transportation and energy industries, has jointly agreed with World Transport Authority to issue the following statement: Composite Auto Research, Ltd. and its subsidiary, World Transport Authority, Inc., have agreed to settle the lawsuit on file with the San Diego Superior Court against B.A.T. International, Inc. B.A.T. International acknowledges and recognizes the rights to the World Star vehicle owned by World Transport Authority, Inc. and B.A.T. has agreed to pay a royalty to World Transport for all vehicles it produces in the future which incorporate a construction design utilizing the composite chassis platform based on the design and technology of the World Star. Joe LaStella, President of BAT International, stated that: "The agreement is equitable for both parties and will benefit both companies." BAT International subsidiaries and affiliated companies currently design and manufacture vehicles in Mexico utilizing technologies developed exclusively by BAT that do not incorporate the World Star design and technology. BAT International is organized as a holding company with major ownership position in a set of subsidiary and joint venture companies now commercializing advanced transportation and energy technology products developed by BAT. Technologies developed over the last six years include electric vehicles, composite chassis, super-efficient or high power engines, electric bicycles and scooters, advanced batteries, lubricant additives, and electric power generation. For additional information, visit BAT's web site at http://www.baat.com. This press release contains forward-looking statements that should not be used to make an investment decision. Please refer to BAT's web site and other sources for more detailed Company information or call Investor Relations: (619) 409-8977.