APS TECHNOLOGY IS RANKED AS ONE OF THE FASTEST-GROWING TECHNOLOGY COMPANIES IN NORTH AMERICAN DELOITTE'S TECHNOLOGY FAST 500 PROGRAM

APS Technology, Inc., headquartered in Cromwell, Connecticut, has announced that it is ranked Number 483 on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology companies in North America. Rankings are based on percentage revenue growth over five years, in this case from 2000 through 2004. APS Technology grew 254 percent during this period.

The Fast 500 list is compiled from Deloitte's 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. Each entrant company must be headquartered in North America and must be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues, or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify. To qualify for the Fast 500, entrants must also have had operating revenues for the year 2000 of at least $50,00 USD or $75,000 CD for the United States and Canada, respectively, and operating revenues of 2004 of at least $1 million USD or CD.

"Because the Deloitte Technology Fast 500 measures sustained revenue growth over five years, being one of the 500 fastest-growing technology companies in North America is an impressive achievement," said Tony Kern, deputy national managing principal of Deloitte's Technology, Media & Telecommunications industry practice. "APS Technology deserves a lot of credit for its remarkable growth."

APS Technology is an engineering and manufacturing company that specializes in the design, development and manufacture of electromechanical systems and sensor technology required to operate in harsh environments. Through a combination of DoE contracts and self-funding, APS technology has developed a range of products that are used in the oil and gas industry to improve the efficiency of drilling and production operations. These include systems that allow wells to be drilled directionally and horizontally; systems for monitoring these wells in real time as they are drilled; and products that reduce vibration and increase the rate of drilling. The company has been recognized as an industry leader in the monitoring, modeling and control of drilling vibration.

In addition to ranking on Deloitte's Technology Fast 500, APS Technology was named, for the third consecutive year, to the Connecticut Technology Fast 50, which is a ranking of the 50 fastest-growing technology firms in the state. Martin E. Cobern, Vice President, Research and Development at APS Technology, attributes the success of the company to "our unique combination of experienced, highly skilled engineers and the latest in design, analytical and manufacturing tools. It is especially gratifying to note that APS Technology is one of a relatively few ‘traditional' engineering and manufacturing companies to be part of the Technology Fast 500. Our ranking is a tribute to our ability to provide modern, cost-effective technology to an established and very conservative industry."

Further information on Deloitte's ranking programs and APS Technology's products and services can be accessed through the Internet. Please visit www.fast500.com for details on the Deloitte Fast 500, and www.aps-tech.com for a complete overview of APS Technology.