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For Immediate Release. . . . . . Utilicraft Aerospace Industries Completes Acquisition Agreement With United Aircraft Development Partners, Inc. ALBUQUERQUE, N.M., January 22, 2010 -- Utilicraft Aerospace Industries, Inc. (Symbol:UITA.PK) announced today that the company has completed the acquisition of United Aircraft Development Partners, Inc. as a 100% owned Subsidiary in exchange for 103,250,000 shares of the Company's common stock. The Board of Directors decision to acquire United Aircraft Development was based upon its contributing to the consolidated company, a Memorandum of Understanding that United Aircraft Development had previously entered into to merge with an existing operating aerospace company. It is the Utilicraft Board's intention to build a stronger balance sheet, and to create operating activities with operating histories which will help Utilicraft Aerospace to become a fully reporting company on a higher stock trading exchange with increased shareholder value. Due to confidentiality agreements, identification of the aerospace company merger candidate and merger details will be disclosed once a definitive agreement is reached between Utilicraft Aerospace Industries and the aerospace operating entity. United Aircraft Development also contributes to the Company, a Letter of Intent for major funding from a company with associations with Humanitarian Relief Organizations as part of this transaction. Details are also subject to confidentiality agreements until the funding is completed. As part of the Subsidiary Acquisition Agreement, a Director of United Aircraft Development will be appointed to the Utilicraft Aerospace industries, Inc. Board of Directors. The Board of Directors of the Company appointed Mr. Garrett Robinson as a member of the Company's board of directors. Mr. Robinson is to serve as a director of the Company until the next election. From 2006 to present, Mr. Robinson has served as Managing Director of RFT Holdings LLC, a real estate development and investment company. From Mr. Robinson is the founder, director and manager of Bridges Farms, which was the largest sea shipper of humanitarian supplies to the country of Haiti.
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