SOURCE: Avalon Technology Group, Inc.

July 02, 2008 10:30 ET

Avalon Technology Group, Inc. Receives $3 Million Revolving Funding Commitment for Expansion

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

ORLANDO, FL--(Marketwire - July 2, 2008) - Avalon Technology Group, Inc. (PINKSHEETS: AVLN) is pleased to announce 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 thru private investors, new strategic partnerships and vendor financing arrangements.

ATG is currently closing over $5 Million in purchase orders that will be publicly released after the July 4th holiday. ATG currently has a distinct market advantage over its biometric competitors with ATG superior technology and pricing advantages. ATG currently operates with a 300%+ gross margins for its biometric line of products.

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.

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.

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