SOURCE: Avalon Technology Group, Inc.

August 12, 2008 10:02 ET

Avalon Technology Group Announces Stock Buyback

ORLANDO, FL--(Marketwire - August 12, 2008) - Avalon Technology Group, Inc. (PINKSHEETS: AVLN) is pleased to announce that its Board of Directors has authorized a buyback of up to 50 million shares of common stock. The buyback would occur through open market purchases as permitted by securities laws and other legal requirements.

The decision was based upon recent events and the agreement to acquire Worldwide Security Acquisitions. Avalon Technology Group is determined to increase shareholder value, maintain a strong balance sheet and improve returns. The Company will use a portion of the proceeds it has earned through the previously announced $7.5 Million purchase order for its biometric products towards the stock buyback. The buyback option will be available to all Avalon Technology Group officers and directors.

"I believe, based on recent events, the agreement with Worldwide Security Acquisitions and recent purchase orders, that our current stock price is extremely undervalued and should be trading at higher levels. This buyback program will be in the best interest of Avalon Technology Group and our shareholders," stated Pat Downs, CEO of Avalon Technology Group, Inc.

The Company recently announced it has agreed to acquire Worldwide Security Acquisitions, a cutting edge biometric and security company currently selling their products and services to Fortune 500 companies and government agencies under a GSA contract. Avalon Technology Group believes the acquisition will help the Company achieve an additional $50 million in sales through the U.S. General Services Administration's promotion of Avalon's product line.

To learn more about Worldwide Security Acquisitions, please visit

For more information about GSA, please visit

About Avalon Technology Group, Inc.:

Avalon Technology Group is a technology company with operations in software, manufacturing and security products. The Company and its affiliates currently conduct government sales under three GSA contracting vehicles including Minority Owned Women Business and Service Disabled Veteran Owned Small Business, which specializes in providing commercial and government entities with quality services, software and biometric technologies.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

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