Element 21 Announces Record Fiscal Third Quarter Results

Element 21 Golf Company, the leading manufacturer of advanced Scandium Alloy golf and fishing equipment, announced today record fiscal third quarter revenue for the period ended March 31, 2008. The Company reported net revenue of $565,630, an increase of 533% compared to net revenue of $89,325 for the year earlier period. Revenue increased 121% compared to the Company's fiscal second quarter.

The fiscal third quarter results represent the fifth consecutive quarterly sequential increase in revenue. Revenue increased as a result of growing sales of golf and fishing equipment.

For the nine months ended March 31, 2008, the Company had net revenue of $952,562, an increase of 723% compared to the prior year in which the Company had net revenue of $115,636.

"Our results reflect the growing penetration and acceptance of our unique technology by the golf and fishing industries, designed to enhance the competitiveness of golfers and improve the performance of fishermen," said Nataliya Hearn, President and CEO of Element 21. "We expect the momentum in our business to continue as a result of new distribution relationships such as the recently announced deal with Kanata Shaft Co. and the expansion of our marketing initiatives for the highly acclaimed Salt Water Carrot Stix(TM) series for the fishing market."

The Company recently entered into a three-year exclusive distribution deal for North America with Kanata Shaft in which Kanata has agreed to purchase for distribution a minimum of $4.24 million of the Company's golfing equipment.