APS TECHNOLOGY RECEIVES NATIONAL AWARD IN RECOGNITION OF FAST GROWTH AS TECHNOLOGY COMPANY

APS Technology receives the "Fast 500 Award" from Mr. Alex Discepolo, of Deloitte, Inc. on Wednesday, March 29, 2006. Pictured left to right: Denis Biglin, Vice President, APS Technology Inc., Bill Turner, President, APS Technology Inc., and Alex Discepolo, Director, Deloitte, Inc.

CROMWELL, CT – The rapid growth of APS Technology, Inc. has gained local and national attention. For the past three years, the Cromwell-based company has been cited by Deloitte, Inc., as one of the "Connecticut Fast 50," a program which recognizes the fastest-growing technology companies in the state. Recently, APS was also named one of the "2005 North American Fast 500," on the basis of its revenue growth of 254-percent from 2000 to 2004.

APS Technology was officially honored on Wednesday, March 29, 2006 at their Cromwell, CT headquarters. With all APS Technology employees in attendance, Mr. Alex Discepolo, of Deloitte, Inc. presented the "Technology Fast 500 Award" to APS President, Bill Turner and APS Vice President, Denis Biglin.

APS Technology has applied its unique engineering skills and manufacturing capabilities to the demanding field of oil and gas drilling equipment and has become one of the fastest-growing technology companies in North America. This company has developed a reputation as one of the leading suppliers of advanced drilling and monitoring equipment for the international exploration market. Founded in 1993 by Bill Turner, a former employee of Teleco Oilfield Services Inc. of Meriden, the company has grown from three employees in 1994 to over fifty employees in Connecticut and additional staff in Texas and Missouri. The company is looking to open international sites, as well.

The primary focus of APS Technology's efforts is the field of measurements-while-drilling (MWD), which was pioneered by Teleco in the 1970s. Tools of this type allow the driller to monitor drilling conditions and gather information about the rock formations in real time, while drilling is in progress. APS Technology's engineering and design skills are complemented by the company's state-of-the-art CNC machining facility which produces complex, high-technology components.

Deloitte's Technology Fast 500 recognizes the 500 fastest-growing technology companies in the United States and Canada based on the percentage of fiscal year revenue growth over a five-year period. 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.