updated 9/16/2010 2:16:20 AM ET 2010-09-16T06:16:20

MCLEAN, Va., Sept. 15, 2010 (GLOBE NEWSWIRE) -- Exmovere Holdings, Inc., a biomedical engineering company, today announced that they intend to proceed with production of the Chariot, a self-balancing mobility device that surrounds the user's thighs, hips and legs in a kind of cocoon. The user of the Chariot will remain vertical and have their hands, arms, and chest free to do whatever is desired. The Chariot will enable the user to remain at eye level with their peers and will offer a viable solution to those who are obese, elderly or have mobility issues. The first mass market version of the Chariot, due to be shipped in late 2011, will be marketed as a fitness and sports enhancement device and a target MSRP for the base model of $2000. 

A photo accompanying this release can be found at https://www.issuerdirect.com/corporate/mediaroom/69079 .

In April 2009, Exmovere debuted an early prototype of the Chariot on YouTube. The video received over 90,000 hits and has been the subject of a variety of television news stories, blogs and news articles around the world. Although this early version of the product was not intended for mass production, the company has received thousands of email and phone inquiries about the Chariot. After conducting various feasibility and market research studies, Exmovere believes that the Chariot can finally enable stand and ride technology to break through in the arena of sports and fitness, especially for those with mobility challenges.

Although the first production model of the Chariot will focus on affordability, future versions will also offer vital sign, emotion monitoring, and environmental sensors for hospitals, military and hazardous materials workers. Exmovere plans on selling the Chariot through a licensed dealership network to be established in the United States and targeting E-2 visa investors who wish to come to the United States and launch branded "Chariot Stores." The United States's E-2 Treaty Trader program was implemented for the purpose of attracting foreign investment capital and new jobs to the U.S. Exmovere's E-2 program is designed to be both compliant and likely to produce a long term, reliable network of product distributors. E-2 Visa investors interested in launching a Chariot Store should visit the following web pages:

http://e2.exmovere.com

http://www.uscis.gov/portal/site/uscis/menuitem.eb1d4c2a3e5b9ac89243c6a7543f6d1a/?vgnextoid=2ea36811264a3210VgnVCM100000b92ca60aRCRD&vgnextchannel=2ea36811264a3210VgnVCM100000b92ca60aRCRD

Chariot Stores will focus on providing sports, fitness and outdoor recreation products to those with disabilities. Each Chariot Store will sell customized, company-branded fitness, sports and outdoor gear, including helmets, orthopedic footwear, walking aids, sports wheelchairs, the upcoming Telepath Zigbee biosensor wristwatch and the Red Fury road scooter. Select Clinica health care centers, operated by Exmovere's Clinica of Virginia, LLC, will also have Chariots on site for demonstration.

Exmovere CEO David Bychkov stated: "Exmovere wants to create a 'Chariot lifestyle' for those with mobility problems, diabetes and a broad spectrum of disabilities. The Chariot encourages upright activity and will enable more people – especially those with prosthetic legs and podiatric issues - to play golf, basketball and, yes, lacrosse. This product is going to do wonders for the abs, since Chariot riders will have to use them to steer it.   It is also going to reward riders with speed, agility and power they may or may not be able to achieve on their own. Just as wheelchair basketball has gained acceptance among the disabled, we think that the Chariot will break ground in the athletics world as well. I think the public will be very pleased when they learn of the estimated speed and range of the Chariot."

The Chariot will move into servicing a very large population of people who have mobility challenges. In the United States, there are over 6 million veterans with some sort of disability, there are 1.7 million amputees, and over 2% of the population is using some sort of wheelchair or assistive device. As baby boomers continue to get older, obesity and diabetes continue to pose massive challenges, and overall demographic changes continue to bring about mobility needs, the Chariot should provide a great advantage. 

Cheyenne Crow, Vice President and COO of Exmovere pointed out: "We are releasing the first renderings today of the Exmovere Chariot that we are taking into production. In the next few weeks and months, we will be making some important announcements about the technology of the self-balancing platform. Although it is true that the first few prototypes of the Chariot were based on the Segway system, I think that the public will be surprised and pleased by the choices we are making to ensure affordability and scalability for mass production. I also hope the public will note how seriously we are taking consumer safety, including the introduction of an emergency brake, bumpers, safety lights and padding for the rider. We also intend to create a micro-site for the Chariot at exmovere.com as we get closer to delivery of the product."

A photo accompanying this release can be found at https://www.issuerdirect.com/corporate/mediaroom/69080 .

The hope is that Exmovere will also be able to offer the Chariot at large price discounts over existing mobility solutions as the product comes on line and economies of scale emerge.   Harry Russell, Vice President of Investor Relations at Exmovere, stated, "The Chariot will fill a large social and medical need in that it will enable those who either have less mobility than they would like or no mobility at all to move around freely and confidently. As the user of the Chariot will be vertical and able to move around using the inertia and movement of their lower body, their hands will be free to bounce a ball, cast a fishing line or twirl a dance partner. We feel that the Chariot will be instrumental to those persons who either have never used a mobility device or are just aggravated with the obsolete mobility technology they are currently using."

Exmovere Holdings, Inc. is focused on government and consumer applications for healthcare, mobility, and security and the practical applications of the study of human emotion. The Chariot is instrumental in the build out of this vision as a solid representation of Exmovere's push into enhancing human mobility. The company plans on continuing along a path of solid and emotional driven design with a product offering that changes the way people look at the world. The hope is that these products will continue to be on the cutting edge and establish paradigm shifts in the markets we serve.  Further inquiries into the Chariot or any of our exciting and innovative product offerings should be directed to the contact person listed below.

The Exmovere Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7861

Certain of the above statements contained in this press release contain 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 (the "Exchange Act"). Actual results, events, and circumstances (including future performance, results, and trends) could differ materially from those set forth in such statements due to various factors, risks, and uncertainties, including, but not limited to, risks associated with the company's future growth and operating results, the uncertainty of market acceptance of the company's products, technological change, competitive factors, and general economic conditions. Except as otherwise required to be disclosed in periodic reports required to be filed by companies registered under the Exchange Act by rules of the Securities and Exchange Commission, the company has no duty and undertakes no obligation to update such statements.

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