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Ultimate Comments on Due Diligence of Skinny Technology

Press release from the issuing company

VANCOUVER, British Columbia--July 4, 2002--Skinny Technologies, is pleased to announce that Ultimate Technographics of Montreal has completed a due diligence review of Skinny Technologies' core technology. Ultimate's perspective of the value of Skinny's product is best illustrated by the following quote from Ultimate Technographics' President, David Watson to Skinny Technologies President, Daniel C. Walters. (Watson also serves on Skinny’s Board of Directors.) "After careful review, and with your own valuable input, we feel that Skinny Technologies does possess certain knowledge about currently unused methods and new technologies as well as intimate knowledge about Adobe PostScript and PDF that provide opportunities for developers in our industry to create products that are unique and meet real world needs. This technology is real and viable for streamlining the processes involved in the manufacture of print; whether it is for the traditional print offset market or more certainly for the rapidly growing Print-On-Demand market segment. Developing products that utilize this new technology will create opportunities to implement new and potentially unique workflow solutions that not only reduce image size as well as file size but also maintain quality and optimize the speed of processes such as imposition, trapping and RIPing for output." "In conclusion Ultimate recognizes that Skinny Technologies has special knowledge of a method to enhance file reduction and maintain quality that is unique and, at least to our knowledge, completely unknown and not implemented by any other developer of prepress and print software. Given the right development climate and commercial cooperation between Ultimate and Skinny Technologies a mutually beneficial relationship is certain to grow and flourish." The Ultimate Technographics endorsement is key to Skinny's overall marketing and development strategy. "Ultimate's recognition of the value of our technology moves our business relationship to the next level," said Mr. Walters. "This confirmation from a well-respected company such as Ultimate Technographics provides Skinny with instant recognition and credibility within the print industry." Mr. Walters added, "We can now move forward with the development and marketing of new software programs that utilize Skinny's core technology of image file size reduction. There will also be OEM versions that will license Skinny's core technology in their software programs. Separately, conversion and encoding engines will be licensed to other firms that develop software for the print industry. We will also be developing enhancements to PostScript based RIPing software for use with printing devices."