SOURCE: LoftWerks, Inc.

August 17, 2005 07:57 ET

LoftWerks, Inc. Announces JV With Consultech Construction Management, Inc.: $12M/3-yr. Consulting Services Agreement With Revenue Incentives

NASHVILLE, TN -- (MARKET WIRE) -- August 17, 2005 -- LoftWerks, Inc. (OTC: LFWK) today announced a Joint Venture Agreement with Consultech Construction Management, Inc. that mandates a three-year term for design, planning, and consulting services in two target markets: one in Canada, the other in Europe (Germany). The Company's retainer should more than double the allotted $12M (US) with bonuses and incentives based upon performance and revenue production. The Agreement was finalized yesterday evening between LFWK CEO Dennis Ammerman and "CCM-Europe" Director General, Dr. Phil Roth, and will commence with a formal document-signing late next week.

"I cannot begin to utter the honor and gratitude of our organization toward Dr. Roth and all of Consultech," said Ammerman this morning. "Participation, at any level, with CCM is in-and-of-itself such an achievement that many would gladly pay to have but the memory of it."

CCM is one of only seven designated "Master Builders" on the North American Continent and in Europe. Their dealings span every aspect of Building and Development, from on-site services to finance and bond issuances. Their interests are global in scope, and this JV will place LoftWerks (LFWK) in an "international arena" that garners respect and a high profile in the industry.

"We've been intrigued by Dennis's passion and vision for urban renewal for some time now," said Dr. Roth of CCM-Europe. "And the results of his completed projects speak for themselves. When the opportunity arose for CCM to take on the logistics and artisanship of urban multi-housing refurbishing in two markets, we quite naturally called upon the broadest vision with uncompromising attention to detail that we knew. We called the best in Dennis and LoftWerks."

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.

Contact Information

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    Andrew DeVries, III
    210-389-2615