SOURCE: Amazing Technologies Corp.

July 22, 2005 14:33 ET

Amazing Technologies Corp. to Become a Fully Reporting Issuer

NEWPORT BEACH, CA -- (MARKET WIRE) -- July 22, 2005 -- Amazing Technologies Corp. (OTC: AZTN) is pleased to announce it has filed its Form 10-SB with the SEC.

J. Bradley Hall, CEO of Amazing, said that filing is another measurable step in Amazing's aggressive business model, which aims to build value through acquisitions and corporate finance initiatives. "Our aim is to marry a number of strategically acquired high margin developers and licensors of IP with leading lower margin regional integrators, and the currency we use for acquisitions is our stock," Mr. Hall said.

Thomas Brown, CFO of Amazing, added, "In 60 days when we become an effective, fully reporting company, we will be eligible to formalize our previously announced $10,000,000 financing and proceed with plans to list on a major, internationally recognized exchange. We believe we now have the infrastructure to identify, structure, complete and integrate strategic acquisitions that position Amazing for continued exciting growth opportunities."

Amazing President and Chief Operating Officer Simon Arkell, an Australian expatriate and former Olympian, noted, "In less than six months, our committed team has positioned Amazing for accelerated growth through acquisitions with a business model that continues to be validated through rapid and thoughtful execution."

Mr. Hall concluded, "This company didn't exist at this time last year. In a short period of time we have recruited a proven management team, sourced financing and acquired world class technologies. We plan to optimize value and liquidity for our stakeholders with our transition to a major exchange. We are ahead of schedule in terms of 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."

Founded in 2004, Amazing Technologies Corp. aims to be 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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