World Associates, Inc. Invests in Space Venture

World Associates, Inc.
and Vanguard Space Corporation (Vanguard) announce their agreement
transferring rights, titles and interests to patents and intellectual
properties regarding advanced space vehicle remote control technology.
A
private corporation lead by former NASA astronaut and Apollo 15 Commander
David R. Scott, Vanguard Space Corporation, has developed the technology to
control unmanned vehicles remotely in space which can be used in a variety of
applications.

WAIV will acquire 15% of Vanguard in exchange for one million shares of
its common stock.
Additionally, Vanguard and Dr. David Scott will transfer
patents and technology to International Space and Technology, Inc. (IST), a
Nevada corporation formed by the parties.
Vanguard will also continue to
“contribute and/or deliver other management, technical expertise and contracts
to IST.”
David Scott will receive 49% of IST and a proxy to vote 2% more, and
WAIV will receive 51% of IST.
For more information investors and interested
parties are invited to visit the WAIV web sites at http://www.worldassoc.net.

WAIV will raise $2,000,000 of working capital to advance the technology.
The agreement also calls for IST to license the acquired patents to Vanguard
in exchange for contracts, royalties and other consideration related to the
area of remote cockpit operations.

Vanguard is the only known company in the world with the capability to fly
and direct an unmanned space vehicle designed by it to meet the demand for
satellite servicing capabilities.
Among other things, these “in-space
satellite service” technologies will provide an effective way to retrieve
satellites with the ability to move them from a useless to a useful orbit.
Vanguard’s ability to service and extend the life of satellites leaves them as
the only player in a potential billion-dollar industry with the Company as the
sole provider.

In addition to flying on three space missions (Gemini 8, Apollo 9,
Apollo 15) David R. Scott has extensive education and over 34 years experience
in technical, operational and managerial aspects of space projects.

The global market for satellite services is experiencing a period of
unprecedented growth that is forecast to continue well into the next decade.
Highly specialized in demand services that command tremendous fees include;
communications, earth observation and sciences.
A recent Merrill Lynch market
forecast report projected satellite industry revenues to increase from
$39 Billion in 1997 to over $171 Billion in 2007, an annual growth rate of
17%.
WAIV is positioning itself to be leader and unique service provider in
this booming industry.

This report contains “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Act of 1934.
Although the Company believes that the expectations
reflected in the forward-looking statements contained herein are reasonable,
no assurances can be given that such expectations will prove correct, that
financing will be available or that the technical challenges will be overcome.
Any statements made herein should not be considered guarantees of future
positive corporate or stock performance.