SOURCE: Amazing Technologies Corp.

May 18, 2005 15:34 ET

Amazing Technologies Corp. (AZTN) Announces Completion of Second Strategic Core Technology Acquisition

NEWPORT BEACH, CA -- (MARKET WIRE) -- May 18, 2005 -- Amazing Technologies Corp. (OTC: AZTN) announced today that the company has formally completed another acquisition of core technology to be integrated into the Amazing On-Demand software platform. The sophisticated software solution was acquired from Versifi Technologies of Aliso Viejo, CA.

J. Bradley Hall, CEO of Amazing, said, "This is the second in a series of IP and professional services company acquisitions we will be announcing in the near term and will serve as a notice to the marketplace that a technology platform for transforming small and medium-sized companies into Real-Time Enterprises is now available."

"In keeping with Amazing's acquisition approach, this critical enhancement to our product offering was actually acquired by a European buyer in a $48 million transaction and recently bought back at a fraction of that price," said Hall.

"While the content management component is proven, the real gem in this deal is the predictive engine software. The IP was initially developed by Dr. Michael Pazzani, the former chairman of computer science at UC Irvine and funded by angels including John Chambers, CEO of Cisco."

The solution has been short listed by one of the preeminent suppliers to wireless carriers globally who have shipped their software on over 700 million devices worldwide.

Hall added, "The opportunity to deploy into this huge expanding marketplace speaks for itself."

"Amazing Technologies Corp. is executing an ambitious plan to ramp to $100 million in revenue and $44 million in EBITDA over the next 24-36 months and this acquisition represents an additional strategic building block in our overall blueprint," said Hall.

About Amazing Technologies Corp.

Amazing Technologies Corp. is a start-up 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.

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