National Press Release

LOS ANGELES, June 16 /PRNewswire-FirstCall/ -- Tank Sports, Inc. (OTC Bulletin Board: TNSP) CEO comments on the results of the fiscal year ended February 29, 2008 and looks ahead:

"Sales were up 26% overall as compared to last year; however Tank Sports failed to obtain the same gross margin as last year. This was mainly due to the higher purchase cost of products from China, raw materials, higher inflation in China, the appreciation of the Chinese currency and the heavy discounts needed to sell the products in the last quarter because of the economic slow down in the U.S. economy which adversely affected the entire powersports industry.

"The operating results for the year was a loss of $5.4 million, which is arrived at after a one-time write off of goodwill from the Redcat acquisition of $1.61 million, accounting for the disposal of a subsidiary Dazon Arizona of $750,000 and general increases in expenses resulting from the merger of Redcat and PMI in the current year. In respect to the treatment of goodwill, management adopted a conservative principle to write off the entire amount of goodwill from the Redcat acquisition this year. This is being done to clean up this intangible asset even though there is some remaining value.

"Looking ahead to face the challenges from the slow down in economy, the Company has devised plans to cut down on operating expenses in the first fiscal quarter of 2008 and the full effect of these savings will be shown in the second quarter ending August 31, 2008. Elimination of warehouse space and consolidation of work to reduce manpower are the key measures adopted to drive down operating expenses. In the expansion front, using the sales channel of our subsidiary PMI in Europe, and other international markets, will help the Group offer Tank products that were not previously available to these importers. With the successful execution of these cost saving measures and sales strategies, I anticipate that Tank Sports will be able to report a good result in the second quarter of 2008."

About Tank Sports, Inc.

Tank Sports is a leading company that develops, engineers, and markets high performance on-road motorcycles and scooters, as well as off-road all-terrain vehicles (ATVs), dirt bikes and Go Karts in China. Motorcycle / ATV market. Tank Sports' primary advantage is its efficient distribution network in the U.S. For more information please visit http://www.tank-sports.com

Safe Harbor

The foregoing news release includes numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this news release relating to business developments are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with a small business venture including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on these statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.

SOURCE Tank Sports, Inc.