MARCH 2008 PRESIDENT’S MESSAGE

Dear Friends and Investors:

It is with great regret that I must inform our shareholders that ARMOR has been removed from quotation on the OTCBB effective February 29, 2008.  This action by the OTCBB comes as the result of the company filing its third quarter10Q after the 5:30 p.m. EST deadline on February 19, 2008; our filing was accepted by the SEC on February 20, 2008.  The delisting occurs automatically under the rules governing OTCBB companies when a company is late in filing its quarterly or annual reports three times in a two-year period. Unfortunately, the toughest barrier to our ability to remain listed was insufficient funding and a lack of working capital which resulted in an inability to file our quarterly and annual reports in a timely manner.

Our shares will quote and trade now in the “Pink Sheets.”  If we are able to secure the necessary funding to maintain timely filings; in one year, we will apply to trade again on the OTCBB.  We sincerely apologize to our shareholders for our reporting infraction.  We know that timely reporting and maintaining our ability to trade on the OTCBB are critical matters that deserve our highest priority.  However, I assure you that the entire management team did everything in our power to meet this deadline.  Ultimately, it was not within our power to assure the deadline was met.

Unfortunately, there have been several delays in this project due to internal arguments over financial positions and the wishful determination to attempt to set up manufacturing of the body and frames in Mexico.
 
After many delays, the Mexico City Group has now agreed to use Armor’s vendor, Hero of India for the manufacture of the first 400 units. Current pricing information has been sent to the Mexico City Group and the price quote has been well received. The project is now in the hands of the appropriate government officials.  We have requested specific information as to when we can expect the purchase order for 400 units and have informed the Mexico City Group that they will need to make an initial down payment of 50% with the order.

We will continue to pursue the contract with the Mexico City Group and will also aggressively pursue alternative vendors for the three wheel taxi cab. In addition, we continue to diligently attempt to find the financing required to keep ARMOR afloat.  

Sincerely Yours,
Merrill W. Moses
President
Armor Electric Inc.

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