TSX VENTURE : EGN Incorporated

July 05, 2005 12:31 ET Announces Agreement to Purchase Alventive software

TORONTO, ONTARIO--(CCNMatthews - July 5, 2005) - Inc. (TSX VENTURE:EGN) today announced that it has entered into a letter of intent with BlueSky Solutions LLC to purchase the "Alventive" web-based engineering collaboration software and related intellectual property. The Alventive software represents the core of's online Collaboration Suite software offering. When completed, the acquisition of these selected assets will enable to direct the future development of Collaboration Suite and avoid future royalty payments to BlueSky Solutions LLC. The agreement is subject to due diligence and definitive legal documentation.

The terms of the agreement include the issuance of common shares of and future cash payments to BlueSky Solutions LLC. The letter of intent also includes a consulting agreement under which BlueSky Solutions LLC will continue to develop the Alventive software on behalf of

"Since introducing Collaboration Suite at the end of 2004, our customers have collaborated online to design and create everything from electrical devices to retail stores," stated John Hayes, President of "We are convinced that online engineering collaboration will continue to be a growing market overall and that Collaboration Suite will contribute significant new customer wins for"

Chad Poole, President of BlueSky Solutions LLC, added "We are selling our core software assets to because has proven to be highly successful in this market in a very short time. As future shareholders and software developers of, we are committed to helping create that market leadership position." anticipates closing this transaction during the third quarter of this year.

About Incorporated Incorporated (TSX VENTURE:EGN) is the developer-owner of the Internet-based software and business, being developed to become the ultimate resource tool for the global engineering community. offers deployed and hosted engineering solutions to manufacturers and design consultants around the world. The Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1- (877) 997-9917, by facsimile at (905) 273-6691 or through the Internet at

About BlueSky Solutions LLC

BlueSky's Alventive collaboration software solution provides the visibility, orchestration and tracking required to manage the many tasks and processes related to product introduction and development. Alventive was founded in 1990 as Visionary Design Systems. In 2000 the Company changed its name to Alventive, and launched a new company with ten years product introduction experience, dedicated to collaboration solutions. In 2003, BlueSky Solutions LLC acquired Alventive's Intellectual Property and has been marching forward with the same vision, providing real solutions to real problems.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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