TSX VENTURE : EGN Incorporated

August 11, 2005 14:06 ET Announces Purchase of Intellectual Property Rights to Alventive software

TORONTO, ONTARIO--(CCNMatthews - Aug. 11, 2005) - Inc. (TSX VENTURE:EGN) today announced that it has purchased the "Alventive" engineering collaboration software and related intellectual property from BlueSky Solutions, LLC. The Alventive software allows engineers to share project plans, documents, drawings and changes with other project participants whether they are across the hall or around the world. The Alventive software represents the core of's hosted Collaboration Suite software offering that was launched in late 2004. Since that time, engineers have used to collaborate online on projects as diverse as designing and manufacturing electrical devices to planning and constructing retail stores.

"We conducted an extensive search for the best engineering collaboration solution on the market before deciding on Alventive to form the basis for's Collaboration Suite," said John Hayes, President of "We found that most solutions don't support true collaboration because they are too difficult to use. Many of our Collaboration Suite customers, on the other hand, have succeeded without any training at all."

"We believe that the hosted "software as a service" model will grow rapidly because it offers customers quick and easy deployment at a greatly reduced price," said Chad Poole, President of BlueSky. "Engineers have to collaborate with customers, suppliers and numerous internal colleagues on every project. Having these projects hosted is a natural fit."

User Brian Christiano, P.E. President of BC Engineering and Design, LLC, consultant to Augusta Fiberglass Coatings, Inc. commented, "We used on a large mechanical machine design and construction project with a very short timeline. The extended team spanned multiple suppliers, contractors, and consultants all separated by hundreds of miles. We gave everyone access to the latest drawings, calculations and other vital documents on so that time wasn't wasted verifying that the most up-to-date revision was being used for construction. The team members also had access to an online Gantt chart so that they could be accountable to the project timeline. In a nutshell, we saved time and avoided costly errors. We will definitely be using on our future projects."

The terms of the agreement include the issuance of 1,686,363 common shares of and two promissory notes to BlueSky of $200,000 US and $240,000 US respectively. The common shares are subject to an escrow agreement providing for the staggered release of the shares to BlueSky over a two-year period from the closing date. The $240,000 US promissory note is payable in 24 equal monthly installments of $10,000 US beginning on September 30, 2005. The $200,000 US promissory note is due and payable on the earlier of August 11, 2006, or 30 days after completes an equity financing. At the option of this note may be paid in 12 equal monthly installments beginning August 11, 2006 if the note is still outstanding on that date. The agreements signed today also include a consulting contract under which BlueSky will continue to develop the Alventive software on behalf of

About Incorporated Incorporated (TSXV:EGN) is the developer of the online resource and business for engineers. offers hosted and deployed engineering software and services to manufacturers, design consultants and engineering students 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 905.264.0282 or through the Internet at

About BlueSky Solutions LLC

BlueSky delivers consulting and implementation services to help companies with distributed product teams manage their engineering collaboration. BlueSky is the leading expert in implementing the Alventive collaboration software solution. Alventive provides the visibility, orchestration and tracking required to manage the many tasks and processes related to product introduction and development. BlueSky Solutions LLC is headquartered in Pittsburgh PA. For more information please visit or call 724.744.2299.

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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