ViCTORi LLC Acquires Assets and Operations of VAIREX corporation:

Boulder, CO – August, 2010 ViCTORi LLC of Boulder, Colorado announced it has taken title to all of the assets of VAIREX corporation under the terms of its Debtor in Possession loan following the dismissal of the VAIREX bankruptcy proceedings by the Federal Bankruptcy Court.

The new company is ViCTORi LLC dba VAIREX air systems.

VAIREX corporation was operating under Chapter 11 of the US Federal Bankruptcy Code, following the insolvency and pending liquidation of its UK corporate parent, VAIREX international limited. VAIREX managment continued operations under Court supervision as Debtors in Possession, taking orders, shipping product, and raising capital with the goal of emerging from bankruptcy as an independant and successfully reorganized company.

VAIREX CEO Ski Milburn said, “This has been a difficult year for everyone, with an outcome that lets us move forward as a new company, and service our customers with the same technology, products and customer service that they’ve come to expect.

I particularly want to thank our amazing and loyal customer base for their sticking with us during these uncertain times. Without you, this would have never been possible.”

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About VAIREX
VAIREX air systems (www.vairex.com), with offices in Boulder, Colorado, USA and Tokyo Japan, is a privately-held developer, manufacturer, and supplier of air management systems, enabling technology to the hydrogen fuel cell and diesel emissions control industries. These critical systems consist of integrated compressors, motors, and controllers that efficiently and precisely deliver clean air to support our customer’s requirements. VAIREX's customers include leading Tier One suppliers and OEMs to the fuel cell and diesel industries in Europe, Asia, and North America. VAIREX™ is a trademark of ViCTORi LLC.

For further information, please contact:
Ski Milburn, CEO, VAIREX air systems, +1 303.444.4556 x180, milburnski@vairex.com