Honeybee Technology Inc.
TSX VENTURE : HBT

Honeybee Technology Inc.

July 21, 2005 11:08 ET

Honeybee Announces Third Quarter Results

MONTREAL, QUEBEC--(CCNMatthews - July 21, 2005) - Honeybee Technology Inc. ("Honeybee") (TSX VENTURE:HBT) today announced its results for the third quarter ended May 31, 2005.

For the nine months, revenue increased 26% to $8,813,888, compared to $7,009,057 for the same period in 2004. Net earnings for the nine months increased to $828,688 as compared to $571,887 for the same period in 2004. The weighted average number of shares outstanding at the close of this nine month period was 16,309,999 and earnings per share were $0.05, as compared to $0.04 in 2004.

For the three months ended May 31, 2005, revenue decreased to $1,771,639, compared to $2,355,414 for the same period in 2004. Net earnings for the three months were $24,106 as compared to net earnings of $345,074 for the same period in 2004.

Jeff Klein, President of Honeybee said "We are continuing to work on our supply-chain in order to increase capacity which will support increased sales volumes. Honeybee feels that it is taking the necessary steps to meet these objectives."

Honeybee wishes to thank Mr. J. Pierre Brunet who has resigned as a director. Due to increased commitments Mr. Brunet decided he was no longer able to fulfill his duties and obligations as Director for Honeybee.

Honeybee (HBT; TSX Venture) is a provider of information technology products and services to companies throughout North America, with specialization in e-commerce solutions.

The TSX Venture Exchange does not accept the responsibility for the adequacy or accuracy of this Press Release.

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