MINEOLA, N.Y., Oct. 25, 2004 (PRIMEZONE) -- Torbay Holdings, Inc. (OTCBB:TRBY) announced today that the Section 508 Group of the U.S. General Services Administration ("GSA") had recently removed Torbay's mouse products from a list of products that fall under the accessibility technology standards promulgated by the GSA to implement Section 508 of the Rehabilitation Act. The standards define the types of technology covered and set forth provisions that establish a minimum level of accessibility. Torbay's mouse products have been listed on a Section 508 website (www.section508.gov) since April 2003.
Torbay's management learned of the delisting when links to the 508 website were found to be inactive. Upon their investigation they were told that, in the opinion of the Section 508 group, computer mice do not fall under a compliance requirement and that the GSA had listed the products in error.
The delisting does not constitute a position by the GSA that Torbay's products are not efficacious and the GSA has cited specifically that they are Section 504 compliant in that they are Assistive Technology; IIt merely reflects the GSA's current position that Section 508 does not cover conventional mouse products, even if such products employ assistive technology.
While Torbay's management does not believe that the product delisting, as of today, has a material adverse effect on sales of Torbay's products or its business, it does believe that Torbay's mouse products do comply with the accessible technology standards. Management further believes that the standards are applicable to computer mice as peripherals. A vendor that complies with the standards may use its own compliance to block awards to a noncompliant competitor.
Management has had discussions with the staff of the GSA regarding the reason for the delisting and is considering formally appealing the action at the agency level, as well as seeking a declaratory judgment in federal court, if necessary. Torbay's decision to pursue such remedies will be based on its assessment of the likelihood of success and the benefits of a favorable result versus the anticipated costs of undertaking the action.
Shareholders are reminded that the company's website is a intended as a source of information for them.
Website www.trby.com
Product: www.quillmouse.com