SOURCE: Avalon Technology Group, Inc.

July 09, 2008 08:55 ET

Avalon Technology Group, Inc. Introduces ATG 8GB USB Biometric 256 AES Speedster

Avalon Technology Group Declares 2:1 Forward Stock Split to Shareholders of Record on July 25, 2008

ORLANDO, FL--(Marketwire - July 9, 2008) - Avalon Technology Group, Inc. (PINKSHEETS: AVLN), an industry leader in cutting edge biometric technology products, today announced the release of the ATG 8GB USB Biometric 256 AES Speedster.

ATG's new Biometric Speedster flash drive is the latest product in ATG's successful business model to bring the most advanced technology to consumers at competitive prices. ATG is releasing the product through its distribution channels with a suggested retail price of $119.00, which is currently 30-50% below competitor retail pricing. ATG will also be launching its online store (www.avalontechsolutions.com) to allow for individual purchases next week now that the distribution channel agreements have been completed.

ATG CEO Patrick Downs stated, "I am pleased that once again ATG has been able to bring to the consumer market superior biometric technology at a great cost savings to the consumer. ATG's financial strength consisting of sizable inventory, efficient manufacturing, working capital and no debt have allowed the company to rapidly bring to the consumer market products faster than our biometric competitors while maintaining vastly superior gross margins for our products. ATG fiscal year, which began July 1, 2008, is on target guided by current purchase orders to hit its targets of $10 Million in revenue for the 1st quarter and fiscal year revenues of $35 Million."

ATG previously announced that the Company has closed on $3 Million funding commitment for fulfilling current purchase orders, additional employees and establishing a government sales office in the Washington, DC Metro area in this quarter. Avalon Technology Group, Inc. (ATG) arranged the revolving funding facility through private investors, new strategic partnerships and vendor financing arrangements. ATG currently has $1 Million of inventory in the company's warehouses for the rollout of these products with more shipments being received weekly.

ATG advisors and counsel, as previously announced, have filed all the necessary paperwork with the appropriate government agencies for the 2:1 forward stock split which will be paid to stockholders of record on July 25, 2008. There is no need for shareholders to surrender their shares with this forward split. Shareholders who have their shares deposited with brokerages and other financial institutions will automatically have the new shares deposited to their accounts.

About Avalon Technology Group:

Avalon Technology Group is a technology company with operations in software and the industry leading biometric security product developer. 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.

Contact Information