Land Star Inc. (LDSR) Competes for a BP Project and Merger Update

Jun 16, 2010, 14:29 ET from Land Star Inc.

WUHAN, China, June 16 /PRNewswire-FirstCall/ - Landstar Inc.'s (LDSR; http://www.landstarcorp.com) subsidiary Hubei Chuguan Industrial Co., Ltd. announces that the company competes for an oil and gas recovery installation, while the management continues to seek ways to merge the two strong heavy industry merger candidates into LDSR.

GangFa BP, a large-scale venture enterprise, started a supplier competition for the delivery of goods and services for the depot's oil and gas recovery needs. GangFa BP (GF BP) uses a meticulous bidding model for its project competitions. As a leader in oil and gas recovery technology, Hubei Chuguan believes that it can offer a comprehensive set of products and services, and that the company stands in a good position to compete for the project. The companies had been negotiating and the business talks reached an advanced stage. If acquired, the GangFa BP contract for goods and services in oil and gas recovery technology should yield $500,000 USD for LDSR.

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Safe Harbor Statement

Information in this news release may contain statements about future expectations, plans, prospects or performance of LandStar Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. LandStar Inc. cautions you that any forward-looking information provided by or on behalf of LandStar Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. LandStar Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond LandStar Inc.'s control. In addition to those discussed in LandStar Inc.'s press releases, public filings, and statements by LandStar Inc.'s management, including, but not limited to, LandStar Inc.'s estimate of the sufficiency of its existing capital resources, LandStar Inc.'s ability to raise additional capital to fund future operations, LandStar Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match LandStar Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. LandStar Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

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SOURCE Land Star Inc.