SOURCE: Edgetech Services, Inc.

May 20, 2005 12:33 ET

EdgeTech Announces "e" to Be Removed, Posted Due to Error and Provides Shareholder Update

TORONTO -- (MARKET WIRE) -- May 20, 2005 -- EdgeTech Services, Inc. (OTC BB: EDGHE), a total business solutions provider specializing in IT security and outsourced services, announced the following update:

Today an "e" was added to our stock symbol, and it is now being removed and will be effective on Monday. It was added due to an error of NT10K for an unrelated company that was mistakenly filed by our EDGAR filers.

We have spoken with the OTCBB staff, who have confirmed that this is the case and that it was an error.

Over the past 6 months, management has been involved with several acquisition related discussions resulting in a letter of intent being signed with Astreya Partners. We are still actively engaged in discussions with several potential funders, and our due diligence has now been largely completed.

We have several other opportunities presently that may yield significant upside for our shareholders, and they involve merger discussions with a much larger entity and another with significant proprietary technology in our security space.

Furthermore, Edgetech has shown a turnaround in its financial results ending January 31, 2005, with revenues of $730,806, which represents an increase of 67% compared to the previous quarter and a 37% increase from the same quarter last year. Our business is growing in both the number of enterprise customers and the size of our sales to each customer.

Edgetech and its management team will continue to search for accretive acquisition opportunities to complement our existing business and to grow our existing lines of business.

About EdgeTech Services

EdgeTech's primary business is IT Consulting covering the following areas: IT Security, Biometrics, Business Solutions, Systems Engineering, Software Development and Project management. EdgeTech is a Business Partner to Microsoft, IBM, Symantec, Counterpane and many others. EdgeTech's clients include major government and private sector clients in Canada and the United States. The EdgeTech website is www.edgetechservices.com

This press release includes forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Inherent risks and uncertainties could cause actual results to differ materially from the forward-looking statements. Such risks and uncertainties are described in the periodic reports the Company files with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Edgetech Services Inc.
18 Wynford Drive
Suite 615
Toronto Ontario M3C 3S2

Contact Information