International Technologies Corporation

International Technologies Corporation

August 23, 2005 06:00 ET

ITC Announces Credit Line Increase for its Canadian Operations

RICHMOND, BRITISH COLUMBIA--(CCNMatthews - Aug. 23, 2005) - International Technologies Corporation ("ITC") (TSX VENTURE:ITI), announced today it has secured a permanent "seasonal loan bulge" of CDN$5 Million with banking partner, HSBC Bank Canada. As a result of this bulge, ITC's operating line of credit will increase from CDN$3 million to CDN$8 million.

The seasonal increase will commence July 1st of each year, expire the following year on February 28th and will automatically renew for all subsequent years.

ITC intends to utilize its extended credit operating lines to fund further growth of its Canadian operations providing greater purchasing power to facilitate new sales of its popular digital product lines.

"The credit facilities in Canada at CDN$8 million and the United States at US$1.5 million provide ITC with greater financial flexibility that contributes to the company's development and enables us to meet the rising demand for our products," stated Michael Uhm, President and CEO of ITC. He added, "HSBC continues to support our business efforts and we look forward to another year of growth with them as our financial partner."

About ITC

International Technologies Corporation ( is a leading importer and distributor of advanced electronics and computer products. The Company has a manufacturer-direct relationship that provides savings and other significant advantages to its customers.

ITC holds the exclusive rights to distribute product to the North American marketplace through its relationship with Hansol Korea. The Company also has agreements in place to deliver MPIO branded products exclusively to the Canadian market and to the United States on a non exclusive basis.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to, market acceptance of principal products, the impact of competitive products and technologies, the possibility of products infringing patents and other intellectual property of fourth parties, and costs of product development. ITC will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by ITC.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.

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