SOURCE: Markland Technologies, Inc.

April 20, 2007 08:00 ET

Markland Technologies Announces Ex-Dividend Date for Dividend of Technest Holdings Common Stock

WARWICK, RI -- (MARKET WIRE) -- April 20, 2007 -- Markland Technologies, Inc. (PINKSHEETS: MRKL), a company transforming advanced laboratory technology into real-world products, has issued the following update on its planned dividend of shares of Technest Holdings Inc. common stock:

As previously announced, the record date for the Company's distribution of Technest common stock is April 25, 2007 and the payment date is May 4, 2007. Based on those dates, the NASD has established an ex-dividend date of May 7, 2007.

The NASD's determination of the ex-dividend date can be found at the following site:

http://www.otcbb.com/asp/dividend.asp?sym_id=MRKL&dDate=04/25/2007&sDateType=Record_date

The ex-dividend date is the date on or after which a security is traded without the right to receive a specific dividend or distribution. Any shares of Markland common stock outstanding on the record date that are traded after the record date but before the ex-dividend date will be traded with the right to receive the Technest dividend shares. Shares of Markland common stock traded on or after the ex-dividend date shall be traded without the right to receive any Technest dividend shares.

As previously announced, the distribution ratio for the special dividend is .00515464 of a share of Technest common stock for each share of Markland common stock. Accordingly, for every 194 shares of Markland common stock outstanding at the close of business on the record date, one share of Technest common stock will be issued. The aggregate number of shares of Technest common stock that may be issued in the distribution (2,577,320 shares) was calculated by multiplying the number of shares of Markland common stock outstanding of 500 million shares by the distribution ratio. There will be no fractional shares of Technest common stock issued and all share amounts to be distributed will be rounded down to the nearest whole share. Holders of fewer than 194 shares of Markland common stock will receive no shares of Technest common stock.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The distribution will be made only by means of the written prospectus forming part of the effective registration statement.

About Markland Technologies

Markland Technologies, Inc. is engaged in the identification of advanced technologies currently under development in laboratories, universities and in private industry, and in the transformation of those technologies into next-generation products. Markland's solutions support military, law enforcement and homeland security personnel to protect the nation's citizens, borders and critical infrastructure assets from the threat of terrorism and other dangers. Through strategic development, Markland focuses on the creation of dual-use technology and products with applications in both the defense market and civilian homeland security and law enforcement fields. For more information about the company and its products, please visit the Markland home page at http://www.marklandtech.com.

"Forward-Looking Statements"

Investors are cautioned that certain statements contained in this press release, including those related to the issuance of Technest dividend shares, as well as some statements in periodic press releases and some oral statements of Markland Technologies officers and directors during presentations about Markland Technologies, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to, the timing of the effectiveness of the registration statement covering the issuance of the Technest dividend shares and the related payout and ex-dividend dates. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Markland Technologies, its products, economic and market factors and the industries in which Markland Technologies does business, among other things. These statements are not guarantees of future performance and Markland Technologies has no specific intention to update these statements. More detailed information about those factors is contained in Markland Technologies filings with the Securities and Exchange Commission. http://www.sec.gov.

Contact Information

  • Contact:
    Investor Relations
    Consulting For Strategic Growth 1, Ltd.
    Stanley Wunderlich
    CEO
    Tel: 800-625-2236
    Fax: 212-337-8089
    Email: info@cfsg1.com