SOURCE: Conectisys Corp.

March 08, 2006 09:30 ET

ConectiSys H-Net™ System Expected to Exceed Net Present Value of Conventional Systems; Company Denies Existence of Transaction With General Electric Co.

VALENCIA, CA -- (MARKET WIRE) -- March 8, 2006 -- ConectiSys Corporation (OTC BB: CNES), a developer of automatic meter reading technologies, announced today that its automatic meter reading Case Study has been submitted for review to its Local Utility Distribution Company (UDC) and other related industry concerns.

A recent request for information from the Company's local UDC is expected to reveal that the use of the Company's H-Net™ automatic meter reading system exceeds the net present value of manual monthly meter reading systems. The Company believes that its research has demonstrated that, on average, single manual monthly meter reading costs are nearly twice that of the costs of the Company's H-Net™ automatic meter reading system for streaming time of use data (STOUD) of 2,880 meter reads during a standard monthly reporting period (See AMR Business Case Study).

The Company's fundamental development philosophy has been to deliver added value to the utilities market. The Company's product design goals have been to out-perform metering operations at a lower cost while delivering real-time of use energy consumption data.

Additional information can be found in the Company's March 2006 Monthly Report to shareholders. The Monthly Report discusses, among other things, recent pilot program developments and marketing efforts. The Monthly Report is available on the Company's website at (ConectiSys.com).

In Other News

The Company has become aware of certain rumors alleging that it is in the process of entering into a transaction with General Electric Co. The rumors appear to have originated from an electronic mail communication allegedly sent by the Company's investor relations personnel. This purported communication is a forgery and was not sent by Company personnel. The Company denies the existence of a transaction with General Electric Co., either pending or otherwise. It is the Company's policy to neither confirm nor deny rumors regarding potential or pending business transactions. Further, it is the Company's policy to divulge information regarding a business transaction only after the business transaction is formally entered into. In addition, any communications by the Company regarding its business transactions will only be through formal channels, such as press releases or filings made with the U.S. Securities and Exchange Commission.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein and in the Monthly Report that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to: the level of cost-effectiveness and efficiency of the Company's H-Net™ automatic meter reading products or technologies; changes in the Company's policies regarding communications with shareholders and the general public; the success or failure of the Company's marketing efforts and the particular efforts to be employed; the Company's ability or inability to commercialize, sell, license or further develop its H-Net™ automatic meter reading products or technologies; and other risks detailed from time to time in the Company's periodic reports and other filings with the Securities and Exchange Commission.

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