Nova Divests Its Electronic Business Unit in Zhuahi, China; Assets Returned to Former Owner for Return of Control Block of Common Stock Issued to Torita

Business Wire, Nov 11, 2003

Business Editors

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 11, 2003

Announces That the 2002 Year End Audit is near Completion

Nova Natural Resources Corporation (OTCBB:NVNJ) announced today that the Corporation entered into an agreement to divest of its electronic business assets the company idled at 2002 year end. The company has also stated that it has completed the 2002 audit and expects to submit within 60 days.

The electronic business unit declined shortly after acquisition due to a slow down in demand for existing products and a lack of immediate working capital required for new product introduction. Revenue decreased significantly from 2001 of $4.8MM to 2002 of $.4MM whereby the company was unable to continue operations. Previous management was unsuccessful in efforts to raise the necessary working capital in the time frame in which the business unit had opportunities for its product. The decrease in demand, consumption of saleable inventory and lack of working capital resulted in discontinuing the operations at year end 2002. The business had remained idle while the new management team and board of directors accessed the market conditions for the company products and production capabilities. The current board of directors has determined that restarting the operations creates significant risk for its shareholders and has determined that raising funds with equity would be difficult if not impossible. Therefore, the Directors approached the original owners and reached an agreement for the return of assets in turn for the return of the Torita Electronic (Hong Kong) Ltd., stock in the amount of 138,612,287 shares.

The divesture agreement was entered into with Han Zhende, President of Torita Electronic (Hong Kong) Company Ltd., and provides for the return of the assets acquired from the original agreement, dated Feb 09 2001 between Torita Donghao, LLC and Nova Natural Resource Corporation. The agreement provides for the return of assets, assumption of all liabilities associated with the Chinese operation in turn for the return to Nova the 138,612,287 shares of common stock originally issues to Torita Electronic (Hong Kong) Ltd.

The 2002 audit is completed in draft form and currently the company and auditor are working on footnotes and subsequent events relating to the divesture. The company expects that the audit and subsequent quarterly reports for 2003 will be ready for submission within 60 days.

Mr. Chris Tse, President and CEO stated, "This is the first step in the restructuring efforts of the company, removal of the burden of the electronic business and the completion of the financials will allow the company take advantage of a new venture we are currently working on."

This press release contains forward-looking statements identified by words such as "believe," "expect," "anticipates" and similar expressions. Actual results might differ materially from those projected in, expressed in or implied by the forward-looking statements. Nova cautions investors not to place undue reliance on forward-looking statements, which speak only as to management's expectations on this date.

Some paragraphs of this press release, particularly those describing Nova's strategies, operating expenses reductions and business plans, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1993, as amended and Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While Nova is working to achieve those goals, actual results could differ materially from those projected in the forward-looking statements as a result of a number of factors, including difficulties in marketing its products and services, need for capital, competition from other companies and other actions, any of which could have an adverse effect on the business plans of Nova, its reputation in the industry or its expected financial return from operations. Factors such as these could have an adverse effect on Nova's results of operations. In light of significant uncertainties not included in the forward-looking statements herein, the inclusion of such information should not be regarded as a representation by Nova that it will be achieved.