Metropolis Technologies Comments On Stock Price


ALTAMONTE SPRINGS, Fla., Nov. 3, 2006 (PRIMEZONE) -- Metropolis Technologies Corp. (Pink Sheets:MTPT) announces that it knows of no fundamental reason for the recent decline in the share price of its common stock. There have been no recent undisclosed materials or adverse developments at the Company that management is aware of to cause the recent erosion of its share price.

Michael Smith, President of Metropolis Technologies, stated "We recognize the recent decline in share price is due to selling pressure and market activity unrelated to the prospects of the Company. Based on our current business operations and completed transactions, we believe that our shares are presently undervalued and that our current level of business and outlook for the remainder of 2006 and into 2007 supports a higher valuation. The fundamentals of our business continue to be strong and we remain confident in our business and corporate strategy. We are ahead of plan and have already made significant headway with regard to the milestones scheduled for execution this year, and the Company expects to announce several new transactions resulting in additional revenue generating opportunities in the near future."

Smith concluded, "As stated previously, Metropolis is a rapidly growing company with substantial gross margins and diligently controlled overheads. Our revenue projections continue to be revised upward as our sales pipeline fills with a steady flow of new revenue opportunities. Our valued shareholders and partners can expect Metropolis to aggressively pursue these opportunities in the most efficient manner possible as it relates to growing shareholder value."

Metropolis has issued previous press releases announcing revenue expectation of $3+ million over the next fourteen months. The Company is working on many other business initiatives not yet announced which management believes will continue to materially increase revenues and establish net profitability.

About Metropolis Technologies Corp.

Metropolis has a strategic platform to capitalize with the present and future way in which businesses, associations, artists & entertainers, venues and consumers communicate, create partnerships and develop revenue generating activities and transactions within the online universe.

Our mission is to innovate -- bringing the power, ease of use and massive reach of the internet together with our constantly evolving software solutions to deliver better products, customized services and unique business solutions. Today, Metropolis is offering highly advanced, scalable e-ticketing and portal solutions to clients in North America, South America and the Caribbean with a deeper commitment to provide our products and solutions to clients and consumers on a Global scale.

The Metropolis Technologies Corp. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2913

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased" "plan," "confident that," "believe," "expect," "intend to," or "anticipate" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the company's SEC reports and filings. All forward-looking statements are based on information available to Metropolis Technologies Corp. on the date hereof, and Metropolis Technologies Corp. assumes no obligation to update such statements.



            

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