Element 21 Announces Year-to-date Revenue of $4.01 Million and 218% Growth

      

TORONTO, Nov. 11, 2009 (GLOBE NEWSWIRE) -- Element 21 Golf Company , the leading manufacturer of advanced Scandium Alloy golf and biofiber fishing equipment, announced today record results for its fiscal 2009 revenues for July 1, 2008 to June 30, 2009 of $4.01 million. The Company generated Year end revenues of $ 4.01 million, an increase of 218% compared to revenue of $1.841 million in the same period in fiscal 2008.

At the same time the Gross Profit increased by 470% from $362,000 in 2008 to 1,701,000 in 2009. Loss from Operations for the year decreased by 365% to $1.436 million in 2009 from $5.248 million in 2008.

The Form 10-K was filed with the SEC on September 28, 2009 and contains the details of the results.

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           PERIOD ENDING               30-Jun-09  30-Jun-08  30-Jun-07
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 Total Revenue                           4,009      1,841       229
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   Cost of Revenue                       2,308      1,479       192
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 Gross Profit                            1,701        362        37
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   Operating Expenses
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          Research Development              --         --        --
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   Selling General and Administrative    3,137      5,610     7,127
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              Non Recurring                 --         --        --
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                 Others                     --         --        --
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 Operating Income or Loss               (1,436)    (5,248)   (7,090)
                                        -------    -------   -------
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  Income from Continuing Operations
  ---------------------------------
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    Total Other Income/Expenses Net         98      2,427     4,387
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   Earnings Before Interest And Taxes   (1,338)    (2,821)   (2,703)
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           Interest Expense                255         34     1,299
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           Income Before Tax            (1,593)    (2,855)   (4,003)
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          Income Tax Expense                --         --        --
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           Minority Interest                --         --        --
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     Net Income From Continuing Ops     (1,593)    (2,855)   (4,003)
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      Net Income                        (1,593)    (2,855)   (4,003)
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 Preferred Stock And Other Adjustments      --         --    (4,167)
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 Net Income Applicable To Common
  Shares                               ($1,593)   ($2,855)  ($8,170)
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About Element 21

Element 21's premier products are golf clubs (www.e21golf.com) and fishing poles made out of Scandium and biofiber materials, which are lighter and stronger than Titanium, Graphite and Steel. Element 21's golf clubs have been used by renowned golf pros, such as the winner of the FedEx Cup in 2008.

Element 21 has developed award winning fishing products (www.e21fishing.com). Element 21's Carrot Stix(TM) represents the latest in cutting-edge technology, using a newly developed proprietary method of integrating nano level cellulose bio-fibers into the rod. The fishing products recently were recognized as the "BEST OF SHOW" in the 2007 and 2008 ICAST shows, the world's largest sports fishing show.

Forward-Looking Statements

Certain statements in this press release may constitute "forward looking statements" that involve risks and uncertainties. These include statements about our expectations, plans, objectives, assumptions or future events. You should not place undue reliance on these forward-looking statements. Information concerning factors that could cause our actual results to differ materially from these forward-looking statements can be found in our periodic reports filed with the Securities and Exchange Commission. We undertake no obligation to publicly release revisions to these forward-looking statements to reflect future events or circumstances or reflect the occurrence of unanticipated events.

CONTACT:  Acorn Management Partners, LLC
          Investor Relations:
          John R. Exley, III
          866-491-3739
          678-368-4002
          JRE@acornmanagementpartners.com
          http://www.acornmanagementpartners.com

          Element 21 Sports Company
          1-888-365-2121 ext 106
          sales@e21golf.com
          Media / Marketing:
          Nigel DaCosta
            1-416-362-2121 ext. 104
            Nigel.Dacosta@e21sports.com
          http://www.e21Sports.com