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marketwire

Natco International Inc. Shareholder Update

  • Press Release
  • Source: Natco International Inc.
  • On 8:30 am EST, Tuesday December 9, 2008

SURREY, BRITISH COLUMBIA--(MARKET WIRE)--Dec 9, 2008 -- Natco International, Inc. (OTC BB:NCII.OB - News), in response to numerous calls and emails from shareholders, and potential shareholders, would like to clarify the three most asked questions with the following:

1. Is Natco International Inc. issuing over 300 million shares in a reverse merger with Lassen Energy, Inc?

- No, the company is no longer issuing over 300 million shares in a reverse merger with Lassen Energy Inc. as was contemplated in the Share Exchange Agreement dated April 18, 2008. It was replaced with the Share Transfer Agreement and License Agreement, dated November 26, 2008. As per the Share Transfer Agreement, Lassen Energy Inc. has issued 25,252,500 shares to Natco International Inc., and Natco has issued 8,915,871 shares to Lassen. These shares are currently being held in escrow, pending closing.

2. Is Natco International Inc. still contemplating a stock rollback of its common stock?

- No, the company is not contemplating rolling its stock back as was contemplated in the Share Exchange Agreement, dated April 18, 2008. There will be approx. 37 million shares outstanding in Natco International Inc. post the Share Transfer Agreement. It will also own just over 25 million shares of Lassen Energy Inc., and the intellectual property license for the Lassen Hybrid Solar Panel in the countries of Canada, India, and the state of Hawaii.

3. Why wasn't the name and contact information of the third party evaluator disclosed publicly in the companies recent press release regarding the Lassen Hybrid Solar Panel test?

- The test was a pre-condition that Natco International Inc. required in order to complete the Share Transfer Agreement and License Agreement by having third party verification of the Lassen Hybrid Solar Panel performance. The individual who conducted and verified the test is a currently employed professor of electricity and is not set up to be able to receive hundreds of emails and phone calls per day.

- Natco has the independent test results on file and has also seen the Lassen Hybrid Solar Panel operate. Using one Lassen Hybrid Solar Panel measuring (62.5 X 32.5 X 3.5), test results achieved expectations with measurements averaging 13 amps and 208 volts, which calculates to 2704 watts, and with peaks over 3000 watts. Natco is now in the process of finalizing the Share Transfer and License Agreements.

Should shareholders, or potential shareholders have additional questions to this or any other matter please feel free to email us at info@p2solar.com

Forward-Looking Statements

This press release contains certain statements that may include "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding NATCO's business strategy, plans and objective and statements of non-historical information. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "intends" or similar expressions, involve known and unknown risks and uncertainties. Although NATCO believes that the expectations reflected in these forward-looking statements are reasonable, they may prove to be incorrect and do involve assumptions, risks and uncertainties. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. NATCO's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in NATCO's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to NATCO or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, NATCO does not assume a duty to update these forward-looking statements.

Contact:

     Contacts:
Capital Group Communications, Inc.
Mark Bernhard, VP Corporate Communications
Investor Relations
(415) 332-7200
Email: info@p2solar.com
Websites: http://www.capitalgc.com / http://www.p2solar.com
 

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