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VISTA Announces Sale Leaseback of Property in Texas

Denver, CO - February 16, 2011 -- Vista International Technologies, Inc. (OTC BB: VVIT),
On February 14, 2011, Vista and Brown-Lewisville Railroad Family First Limited Partnership ("Brown") entered into a Purchase and Sale Agreement (the "Sale Agreement") pursuant to which Vista will sell all of its interest in the 26.8 acre industrial site it owns at 1323 Fulghum Rd. in Hutchins, Texas, to Brown. Vista will concurrently enter into a lease with Brown (the "Lease") to lease back approximately 12.5 acres of the property to continue its tire processing business currently located on the property. The proposed lease terms include an initial sixty month lease term with mutually agreed-upon extensions, initial six months of free rent and lease payments of approximately $675 per acre per month, subject to potential increases in the Consumer Price Index. The aggregate consideration to be paid by Brown to Vista pursuant to the Sale Agreement is approximately $1,348,000 in cash, which is net of the first two years of lease payments under the proposed lease. The recorded amount of the property is approximately $51,000 at December 31, 2010. The closing of the sale is contingent on various closing conditions and deliveries, including deposit of earnest money, Brown's review of the physical and environmental condition of the property, transfer of necessary permits and licenses, satisfactory completion of customary due diligence and shareholder approval.

 

C Brad Ripps, CEO.