SOURCE: Amazing Technologies Corp.

October 31, 2006 11:54 ET

Amazing Technologies Corp. Adds $11,000,000 in Revenue and Accelerates Expansion Into Western Europe With Latest Agreement to Acquire a Leading JD Edwards IT Consultant

LONDON -- (MARKET WIRE) -- October 31, 2006 --Amazing Technologies Corp. (PINKSHEETS: AZTN), one of Oracle's largest and fastest growing IT Services and Consulting partners focused on the Small and Medium Sized Enterprise market, announced today that it has signed a Letter of Intent to acquire a leading JD Edwards IT consultant based in Western Europe.

J. Bradley Hall, CEO of Amazing Technologies, said, "This leading provider of enterprise solutions offers expertise and a knowledge base that complements our dynamic business model. This acquisition represents our largest deal to date in Western Europe and is another in a series that will enhance our presence in the European market where we are aggressively negotiating with a number of promising companies."

Simon Arkell, President of Amazing Technologies, added, "This agreement highlights our commitment to establishing our company as a single touch point for prospects and customers who require an established international market presence, as well as Oracle who is our key partner globally. We at Amazing continue to execute our proven business model and we are quite bullish on the prospect of a number of similar announcements from across Europe in the near term."

Mr. Hall noted, "This agreement adds another extremely well run, profitable company into the Amazing fold. Smaller, regional resellers will increasingly be marginalized as companies like Amazing consolidate the channel and create a single touch point for prospects, customers and of course Oracle as well. Our impressive growth, which only began 17 months ago, is slated to continue and as we accelerate towards our goal of completing an IPO on AIM in London."

About the Oracle PartnerNetwork

Oracle PartnerNetwork is a global business network of 17,700 companies who deliver innovative software solutions based on Oracle software. Through access to Oracle's premier products, education, technical services, marketing and sales support, the Oracle PartnerNetwork program provides partners with the resources they need to be successful in today's global economy. Oracle partners are able to offer to their customers, leading-edge solutions backed by Oracle's position as the world's largest enterprise software company. Partners who are able to demonstrate superior product knowledge, technical expertise and a commitment to doing business with Oracle can qualify for the Oracle Certified Partner levels.

About Amazing Technologies Corp.:

Founded in 2004 and based in Newport Beach, CA, Amazing Technologies Corp. is the largest and fastest growing Oracle/JDE partner on the planet. Upon closing, the company will have profitable revenue on 4 continents and over to 1000 consultants and employees at multiple locations in 12 countries including: Australia, New Zealand, Venezuela, Columbia, Mexico, Peru, Chile, Italy, the USA and a number of soon to be named countries in Europe.

"Amazing" is a trademark of Amazing Technologies Corp. and may be registered in certain jurisdictions. This release contains "forward-looking statements." Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes" or statements indicating certain actions "may," "could" or "might" occur.

Trademarks

Oracle, JD Edwards, PeopleSoft, and Siebel are registered trademarks of Oracle Corporation and/or its affiliates.

Contact Information