ORLANDO, FL -- (MARKET WIRE) -- 07/11/08 -- Avalon Technology Group, Inc. (PINKSHEETS: AVLN) has been informed by Nasdaq that the previously announced 2:1forward split has a declared record date of today and a payment day of July25, 2008(http://www.otcbb.com/asp/dividend.asp?sym_id=AVLN&dDate=7/11/2008&sDateType=Record_date).There is no need for shareholders to surrender their shares with thisforward split. Shareholders who have their shares deposited with brokeragesand other financial institutions will automatically have the new sharesdeposited to their accounts.
ATG fiscal year, which began July 1, 2008, is on target guided by currentpurchase orders to hit its targets of $10 Million in revenue for the 1stquarter and fiscal year revenues of $35 Million.
ATG previously announced that the Company has closed on $3 Million fundingcommitment for fulfilling current purchase orders, additional employees andestablishing a government sales office in the Washington, DC Metro area inthis quarter.
About Avalon Technology Group:
Avalon Technology Group is a technology company with operations in softwareand the industry leading biometric security product developer. The Companyand its affiliates currently conduct government sales under three GSAcontracting vehicles including Minority Owned Women Business and ServiceDisabled Veteran Owned Small Business, which specializes in providingcommercial and government entities with quality services, software andbiometric technologies.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaningof the Private Securities Litigation Reform Act of 1995. Statements in thisrelease that are forward-looking statements are based on currentexpectations and assumptions that are subject to known and unknown risks,uncertainties, or other factors which may cause actual results,performance, or achievements of the company to be materially different fromany future results, performance, or achievements expressed or implied bysuch forward-looking statements. Actual results could differ materiallybecause of factors such as the effect of general economic and marketconditions, entry into markets with vigorous competition, market acceptanceof new products and services, continued acceptance of existing products andservices, technological shifts, and delays in product development andrelated product release schedules, any of which may cause revenues andincome to fall short of anticipated levels. All information in this releaseis as of the date of this release. The company undertakes no duty to updateany forward-looking statement to conform the statement to actual results orchanges in the company's expectations.
Contact:
Avalon Technology Group, Inc.
http://www.AvalonTechSolutions.com
or
Call Investor Relations
1-866-THE-APPL(E)
