SOURCE: Amazing Technologies Corp.

June 13, 2005 13:00 ET

Amazing Technologies Corp. (AZTN) Announces Agreement to Acquire Leading Australian Software Integrator

NEWPORT BEACH, CA -- (MARKET WIRE) -- June 13, 2005 -- Amazing Technologies Corp. (OTC: AZTN) is pleased to announce that the company has executed a Letter of Intent to acquire all the outstanding shares of CServ, a leading enterprise resource planning software integrator based in Brisbane, Australia.

J. Bradley Hall, CEO of Amazing, said: "The Company is continuing with its aggressive acquisition program with this latest agreement to acquire our next company, CServ, which is an established leader in the ERP space in Australia as well as a top integrator for our previously announced acquisition Clear Objective."

"This is an ideal validation of our business model as we are marrying a high-margin developer and licensor of IP with a leading lower-margin integrator. The prospect for margin expansion is stunning," said Hall.

"This agreement evidences the momentum that Amazing continues to build as the Company announces acquisitions and the successful completion of corporate finance initiatives. We are executing on our plan to ramp to $100 million in revenue and $44 million in EBITDA over the next 24-36 months and today is another solid step in that direction."

Amazing Technologies Corp. is a young company that aims to be the leading supplier and integrator of Real-Time Solutions or Web-Based Services that can be dynamically identified, located, accessed, compiled and assembled in pre-specified configurations. The company has been launched to roll-up orphaned software and service providers that help transform organizations into real-time enterprises that are connected, integrated and always on.

Amazing is a trademark of Amazing Technologies Corp. and may be registered in certain jurisdictions. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. 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