CirTran Obtains $20 Million in Equity Financing
Monday July 19, 9:45 am ET
New Financing Package with Cornell Capital Significantly Lowers CIRT Cost of Capital, Providing Funding for Aggressive Acquisition and Expansion Program

SALT LAKE CITY--(BUSINESS WIRE)--July 19, 2004-- CirTran Corp. (OTCBB:CIRT - News), an international full-service contract electronics manufacturer of printed circuit board assemblies, cables and harnesses, today announced the company has obtained $20 million in committed equity capital in the form of a Standby Equity Distribution Agreement (SEDA) with Cornell Capital Partners, L.P. The SEDA is larger and, in the opinion of CirTran's management, provides substantially better terms than the previous $5 million SEDA that CirTran negotiated in 2003. The sale of CirTran common stock under the SEDA will be registered with an SB-2 registration statement filed with the United States Securities and Exchange Commission.
Iehab J. Hawatmeh, President and CEO of CirTran Corp. commented, "This funding commitment represents a watershed event for CirTran and our shareholders. We believe that we now have access to sufficient capital on better terms to build our business into a significantly larger player in the global manufacturing arena. The company is already benefiting from the recent increased sales from CirTran-Asia, its Asian manufacturing division which has required initial and ongoing investments which shall in part be used from this funding."

Matt Beckman, Managing Partner of Cornell Capital commented, "CirTran has been one of Cornell's best clients, and has demonstrated the advantages of a SEDA when used properly, I have personally built a strong relationship with Iehab and trust his intentions with regards to the future growth of CirTran."

About Cornell Capital

Based in Jersey City, NJ, Cornell Capital Partners, L.P. began operations in January 2001 to address the financing needs of publicly traded companies that exhibit a clear business vision and to turn PIPEs into a mainstream form of financing. Since then, Cornell Capital has successfully financed numerous public companies while becoming the world's most active investor in structured private placements. At the end of 2002, the company was ranked number one both in all PIPE and structured PIPE transactions with 33 and 32 transactions, respectively. For further information about Cornell Capital, please visit the Company's website located at www.cornellcapital.com .

About CirTran Corporation

Founded in 1993, CirTran Corporation (OTCBB:CIRT - News) has established itself as a premier full-service contract electronics manufacturer by building printed circuit board assemblies, cables, and harnesses to the most exacting specifications. CirTran is headquartered in Salt Lake City, Utah with a state-of-the-art 40,000 sq. ft. facility. CirTran also provides "just-in-time" inventory management techniques that minimize the OEM's investment in component inventories, personnel and, related facilities, thereby reducing costs and ensuring speedy time-to-market. For further information about CirTran, please visit the Company's website located at www.cirtran.com.

Safe Harbor Statement

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements, with words such as "anticipate," "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify forward-looking statements. These statements are based on the company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the company's periodic filings with the Securities and Exchange Commission.

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Contact:
CirTran Corporation
Trevor M. Saliba, 818-788-2033

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Source: CirTran Corp.