SOURCE: Amazing Technologies Corp.

July 11, 2006 11:53 ET

Amazing Technologies Corp. Adds Another $6 Million in Profitable Revenue With a Definitive Agreement to Acquire Structured Intelligence Inc. in Colombia

NEWPORT BEACH, CA -- (MARKET WIRE) -- July 11, 2006 -- Amazing Technologies Corp. (PINKSHEETS: AZTN), a fast growing US public company that acquires, supplies and integrates real-time software solutions for the SMB market, announced today that it has signed a Definitive agreement to acquire Structured Intelligence Inc. (SI), one of the leading Latin American Oracle, JD Edwards resellers based in Bogotá, Colombia.

J. Bradley Hall, CEO of Amazing Technologies, said, "The proven team of over 65 motivated employees at SI offer expertise and a knowledge base that complements and validates our dynamic business model. This acquisition will add over $6mm of profitable revenue to Amazing and represents the second in a series of deals that will expand our presence in the hot Latin American market where we are aggressively negotiating with a number of promising companies."

Luiz Meisler, President of Oracle, Latin America, commented, "This is an exciting development for prospects and customers of Oracle in Colombia, as Amazing will be consolidating two of our leading partners there. We view our relationship with Amazing as strategic and will continue to work closely with them as they rapidly expand throughout Latin America."

Simon Arkell, President of Amazing Technologies, added, "This agreement highlights our commitment to positioning Amazing as a single touch point for prospects and customers who require an established international market presence. 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 Latin America in the near term."

Mr. Hall noted, "This agreement adds an extremely well run, profitable company into the Amazing fold and we are ecstatic to note that we are now the largest and fastest growing Oracle/JDE partner on the planet. We are well on our way to also establishing a single touch point for Oracle, who is our key partner globally. Our impressive growth is slated to continue as we accelerate towards our goal of completing an IPO on AIM in London this fall."

About Structured Intelligence:

The company has over 20 years of experience in national and international markets and two professional service areas: Business Consulting and IT Consulting. Almost 100 proven professionals with deep experience offer clients the knowledge, methodology and tools transfer to overcome complex problems and maximize results in line with existing business strategies.

About Amazing Technologies:

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 of this transaction the company will have profitable revenue of over $30 million USD and close to 400 employees at multiple locations in 6 countries including; Australia, New Zealand, Venezuela, Columbia, Mexico and the USA.

Amazing is also an aggressive 'second buyer' of vertical silo software publishers and successful regional software companies that can be positioned as complementary, plug and play add-ons to existing JD Edwards ERP solutions. The company is focused on fully developed, customer validated products that have not reached any critical mass of customer traction.

"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.

Contact Information