SOURCE: Amazing Technologies Corp.

August 04, 2005 09:00 ET

Amazing Technologies Corp. (AZTN) Appoints Independent, Proven Global Executive to Board of Directors

NEWPORT BEACH, CA -- (MARKET WIRE) -- August 4, 2005 --Amazing Technologies Corp. (OTC: AZTN) is pleased to announce it has elected William J. McCaffrey Jr. to its Board of Directors.

J. Bradley Hall, CEO of Amazing, said that the appointment is another measurable step in Amazing's aggressive business model, which seeks to build value through acquisitions and corporate finance initiatives. "The ability to list Amazing on an internationally recognized stock exchange should dramatically improve liquidity and value for our shareholders but it comes with additional requirements for Independent Directors and audit oversight. Mr. McCaffrey has had deep experience with fast-growing global public companies, as well as direct financial responsibility for a domestic company that was doing about $500 million a year in business. The ability to attract and add someone with his breadth of experience is quite satisfying," Mr. Hall said.

Mr. McCaffrey, who spent many years in the executive suite at W.R. Grace & Co. where he was central in the company's aggressive global expansion added, "I have known Amazing's CFO, Tom Brown, for many years and when he joined the company, it was certainly a healthy endorsement. Since that time, I have had a chance to get to know Brad and his team and I have been able to observe first hand their ability to meet and exceed some pretty aggressive goals. They have a firm plan and a strategy that seems to resonate with investors, customers and acquisition targets and I'm extremely excited to be able to offer my insight and experience to them on a formal basis"

Simon Arkell, President of Amazing concluded, "The more intelligent and experienced people we can vest with our success, the greater the likelihood we will achieve our ambitious goals. We are ahead of schedule in terms of executing our plan to ramp up to $100 million in revenue and $44 million in EBITDA over the next 24-36 months and the addition of Bill to our Board is a very good day for our company and a great day for our shareholders."

Founded in 2004, Amazing Technologies Corp. seeks to become a leading supplier and integrator of real-time solutions and web services that can be dynamically identified, located, accessed, compiled and assembled in pre-specified configurations. The company has been launched to strategically acquire 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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