SOURCE: Amazing Technologies Corp.

June 01, 2005 13:34 ET

Amazing Technologies Corp. (AZTN) Announces Appointment of New President and COO, and Chief Science Officer

NEWPORT BEACH, CA -- (MARKET WIRE) -- June 1, 2005 -- The Board of Directors of Amazing Technologies Corp. (OTC: AZTN) is pleased to announce that Simon Arkell has been appointed President/COO and Jerry Schuman, Chief Science Officer/Evangelist of the Company. Arkell has also been elected to the Board of Directors.

Arkell is a software executive and investment banker with extensive Silicon Valley experience. He spent the last few years as a principal with leading boutique investment banking firm, Gramercy Venture Advisors, working on M&A and corporate finance transactions for early and mid stage IT companies. He was also a Director of Versifi Technologies, Inc., a wireless content software vendor recently acquired by Amazing. Arkell was also a two time Olympian and Commonwealth Champion for Australia in the early 1990's.

Arkell, who came to Amazing through a long standing business relationship with the company CEO J. Bradley Hall, said: "Brad is like one of those great clients I loved working with in investment banking, the kind who understands the implications of the technology but more importantly really gets the math."

"Now I have an ongoing opportunity to not only tap my network to continue to source hidden software gems but also share in the obvious upside that Amazing offers after each transaction closes," said Arkell.

Hall said: "When you consider that the key success factor in our business model has been distilled down to execution, adding another experienced winner to our team is a huge coup."

Schuman's most recent position is that of co-founder and CTO of Versifi Technologies, a company that Gartner Group dubbed the most visionary in the content management space. Schuman and Versifi went on to acquire AdaptiveInfo, the developer of a wireless "predictive content delivery" engine that uses Bayesian analysis to reduce the time spent reading content by users of wireless devices.

Schuman said of Amazing CEO: "Throughout his career, Brad has established a pattern of successfully converting technology to currency and I'm excited to now be a part of the team that is doing that on a world stage."

Hall observed: "Jerry has almost a sixth sense as to where the next watering holes are going to be found and in fact we are already pursuing a significant opportunity to license his technology to the leader in wireless solutions with over 700,000,000 software downloads deployed. This suggests that, as a collective, we can leverage his insights and convert to measurable shareholder value."

"We are executing an ambitious plan to ramp to $100 million in revenue and $44 million in EBITDA over the next 24-36 months. This represents an additional strategic building block in our overall blueprint," said Hall.

About Amazing Technologies Corp.

Amazing Technologies Corp. is a young publicly listed firm 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.

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