SOURCE: LoftWerks, Inc.

February 13, 2006 08:28 ET

LoftWerks, Inc. Advances Consultech Merger: $10M for Building Acquisition and KORE International as Lead Negotiator

NASHVILLE, TN -- (MARKET WIRE) -- February 13, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that ongoing merger negotiations with Consultech Construction Management, Inc. are proceeding towards completion. According to LoftWerks CEO Dennis Ammerman, the negotiations are being mediated by KORE International Management, Inc. and are proceeding as scheduled. "Consultech intends to allocate $10M into our property acquisition ventures," said Ammerman. "We anticipate this transaction going forward as soon as quarterly reports are completed. This capital will certainly allow us to make great inroads towards the realization of our overall vision for LoftWerks."

Consultech Director-General Petar Vucicevich expressed confidence that the expected merger is on track for completion. "We look forward to joining our efforts and resources with LoftWerks," he said. "We're not expecting any problems with the merger process, and we believe the negotiations will be completed very soon."

This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements maybe identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.