APS TECHNOLOGY IS NAMED ONE OF CONNECTICUT'S FASTEST-GROWING TECHNOLOGY COMPANIES IN DELOITTE TECHNOLOGY FAST 50 PROGRAM – FOR THE 5TH STRAIGHT YEAR

For the fifth straight year, APS Technology, Inc. has been named one of the fastest-growing technology companies in the Deloitte Connecticut Technology Fast 50 Program, a ranking of the 50 fastest-growing technology, media, telecommunications and life sciences companies located in the state.

Fast 50 rankings are based on the percentage of growth in fiscal year revenues over five years, in this case over the years 2002-2006. To qualify for the Connecticut Technology Fast 50, a company must have had operating revenues of at least $50,000 in 2001 and $5,000,000 last year and must be headquartered in Connecticut. In addition, the firm must own proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to the research and development of technology.

"To rank on Deloitte's Technology Fast 50, companies must have phenomenal revenue growth over five years. APS Technology has proven to be one of the fast-growth success stories in Connecticut, and we applaud their dedication to making their vision a reality," states Alex Discepolo, a director at Deloitte Tax LLP and chairperson of the Connecticut Technology Fast 50. In fact, the rapid growth of APS Technology over the last few years has resulted in the recent in-state relocation of the company's corporate headquarters from Cromwell to a larger facility in Wallingford.

APS Technology is an engineering and manufacturing company that specializes in the design, development and manufacture of electromechanical hardware and sensor technology for the oil and gas drilling industry. 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 producing these resources. These include products that reduce vibration and increase the rate of drilling; systems that allow wells to be drilled directionally and horizontally; and systems for monitoring these wells in real time as they are drilled. The company has been recognized as an industry leader in the monitoring and control of drilling vibration.

"We are delighted to be named to Deloitte's 'Connecticut Technology Fast 50' list for the fifth year in a row. We are grateful to Deloitte & Touche and the Connecticut Technology Council for this recognition," states Bill Turner, APS Technology President. "Not only is this an honor for APS Technology, but this award helps to shine a spotlight on the strength of engineering and manufacturing companies in Connecticut."