CATS Application Approved, Management Change, Conference Call

Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)

Quasar is pleased to provide the following updates to our shareholders regarding the Corporation and its subsidiaries.

Mr. William F. "Bill" Cirmo II has been nominated to serve as Chief Operating Officer and would oversee the flight training and ground operations for all subsidiaries. Mr. Henderson is no longer with the Corporation and, in accordance with his employment agreement, has resigned from all positions in Quasar and its subsidiaries.

William Cirmo started his aviation career in 1977 when he was awarded his Wings of Gold as an Aviator for the US Navy. Mr. Cirmo served as a combat Naval Aviator while flying the Lockheed P-3C Orion aircraft as Patrol Plane Commander and Mission Commander. He made several overseas deployments to Sicily, Iceland, Spain, Portugal and several South American countries. While serving as a flight instructor flying the T-34C Turbo Mentor, Mr. Cirmo was twice awarded a navy Commendation medal for outstanding performance of his duties. He was selected on several occasions as the squadron Instructor of the Month and the Training Air Wing 5 Instructor of the Quarter. He is qualified as a CFI, CFII and MEI. He was recently awarded distinction as a FAA Gold Seal Instructor.

The Corporation's subsidiary A-Cent Aviation, Inc., (A-Cent) is proud to announce that its application has been approved to be a Computer Assisted Testing Service (CATS) in Jacksonville, Florida. CATS allows A-Cent to administer the highest quality computer-based knowledge examinations within a quiet and conducive testing environment that is under strict security controls. A-Cent's CATS facilities provide candidates with conveniently located test sites and its Herlong Airport site is the only CATS facility in the local area.

Lastly, the Corporation is re-scheduling its previously announced conference call for shareholders and the investment community from May 9, 2012 to Wednesday, May 16, 2012, at 2:30 p.m. EDT. For both U.S. and international callers to participate, dial +1 (712) 432-0900, then enter the participant access code, 497592#, when prompted. Participants are encouraged to access the call at least five minutes before it is to begin. A playback of the call will be available later at +1 (712) 432-0990.

Please submit any and all questions to ir@quasaraerospaceindustries.com so that we may address as many questions as possible during the conference call.

Quasar and its subsidiaries are involved in aviation and aviation related businesses. We are the only certified Cessna Pilot Center (http://www.cessna.com/learn-to-fly.html) in Jacksonville, FL. Through our subsidiaries we are an FAA Part 141 flight school (www.faa.gov). We offer flight training and accept VA benefits under the GI bill (http://www.gibill.va.gov/). Our flight students also benefit from our onsite RedBird Flight Simulator FMX1000 (http://www.redbirdflightsimulations.com).

Check us out on our web site (www.quasaraero.com) and Facebook at: http://www.facebook.com/pages/Quasar-Aerospace-Industries-Inc/146434125485747 or look to schedule a student pilot experience flight through Groupon (www.groupon.com) or Living Social (www.livingsocial.com).

This press release contains "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 and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Quasar Aerospace Industries, Inc. under take no obligation to update such statements.

Contact Quasar Aerospace Industries, Inc. Telephone: (904) 207-6503 Email: ir@quasaraerospaceindustries.com Website: www.quasaraero.com Facebook: http://www.facebook.com/pages/Quasar-Aerospace-Industries-Inc/146434125485747

Green Energy Enterprises (CE) (USOTC:GYOG)
Historical Stock Chart
From Mar 2024 to Apr 2024