BERLIN, May 14, 2004 (PRIMEZONE) -- Advanced Technology Industries, Inc. ("ATI") (OTCBB:AVDIE) and Babypower GmbH ("Babypower") are proud to announce the beginning of an alliance in which Babypower will market children and infant-related products developed by Alfa-Pro Products GmbH ("Alfa-Pro"), ATI and its subsidiaries, throughout Europe.
The commercial arrangement between the companies will commence with the supply of the unique and patented Vari-Grip Latch to Babypower. Delivery of the initial order is scheduled for May 2004. Babypower will subsequently purchase a variety of other proprietary products, including the Hinged Baby Bottle Insulator developed by Alfa-Pro.
ATI President, Mr Hans Skrobanek, remarked, "This marks the beginning of marketing our unique range of innovative consumer products in Europe. We expect the majority of products to be produced under license by our customers but in some instances, such as this, we will be the supplier of the product. We are proud to be associated with Babypower."
Babypower Managing Director, Mrs. Volker, commented, "As part of the growth of our company, we have been interested in acquiring for our product range, products that provide useful and unique functionality for our market. ATI and Alfa-Pro have a broad range of products, several of which are particularly suited to our customers."
Allan Klepfisz, CEO of LTDnetwork, stated, "We are delighted to receive this initial order from Babypower and look forward to a long and successful relationship with them. Following the closing of the merger between ATI and LTD, immediate revenue generation is our main goal. The arrangement with Babypower provides a jumpstart to our marketing efforts and revenue generation."
The Vari-Grip Latch is being aquired by ATI as part of a recently announced agreement. Alfa-Pro is a research and development company that has worldwide intellectual property rights to over 40 consumer products that it has developed.
About Advanced Technology Industries, Inc.
Advanced Technology Industries, Inc. is a technology company devoted to technology identification and acquisition, as well as research and development leading to commercialization of innovative products, including proprietary technologies.
About Babypower GmbH:
Babypower GmbH is the exclusive licence holder of the quality brand "Helly," which has been one of the branch leaders in the infant and children's product area for over 50 years. In the last 15 years, "Helly" has put its emphasis on baby and children's safety products.
About LTDnetwork, Inc.
The company specializes in the development of innovative proprietary software for leading Internet companies in the online advertising, price comparison, music download and gaming sectors. Headquartered in New York City with its R&D facilities in Melbourne, Australia, LTDnetwork, Inc. operates over 350 specialty e-commerce sites.
LTDnetwork, Inc. currently intends to merge with ATI. (http://www.ltdnetwork.com)
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
The above press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. These statements are based on management's current expectations and such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of ATI, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. These risks and uncertainties include, among others: ATI's ability to consummate the merger with LTDN and to achieve expected synergies and operating efficiencies in the merger within the expected time frames or at all; the costs related to the merger; whether ATI can successfully commercialize its products and the products of LTDN; whether ATI is able to acquire new, marketable technologies; whether others develop products or services that are more readily acceptable than, or compete with, the products or services ATI currently offers or intends to offer; political turmoil or changes in government policies in the countries in which ATI does business; changes in regulations or laws that adversely impact ATI's ability to undertake the management of nuclear waste clean-up projects; and other economic, business, competitive and/or competitive factors affecting ATI's and LTDN's businesses generally. ATI assumes no obligation to (and expressly disclaims any such obligation to) update the information contained in this press release, whether as a result of new information, future events or otherwise.