APS TECHNOLOGY AGAIN NAMED ONE OF CONNECTICUT'S FASTEST-GROWING TECHNOLOGY COMPANIES IN DELOITTE TECHNOLOGY FAST 50 PROGRAM

For the second year in a row, APS Technology, Inc., located in Cromwell, Connecticut, has been named to the prestigious Deloitte Connecticut Technology Fast 50 Program, a ranking of the 50 fastest-growing technology companies in the state. Technology Fast 50 rankings are based on the percentage of growth in fiscal year revenues over five years, in this case from 1999-2003. The announcement of this year's winners was made on October 21, 2004 by Deloitte LLP, one of the nation's leading professional service firms, and the Connecticut Technology Council.

To qualify for the Connecticut Technology Fast 50, a company must have had operating revenues of at least $50,000 in 1999 and $1,000,000 in 2003 and must be a public or private company headquartered in North America. In addition, the firm must be a "technology company," defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify) and/or devoting a significant proportion of revenues to research and development technology. For more information on the Deloitte Fast 50 or Fast 500 Programs, visit www.fast500.com.

APS Technology is an engineering and manufacturing company specializing in electromechanical hardware and sensor technology that operates in harsh environments. APS has developed a range of products for the oilfield industry that allow measurements to be taken behind the bit while drilling and transmitted to the surface in real time. It also makes equipment, for a variety of industries, that operates reliably even in the presence of shock, vibration, temperature, pressure, fluid flow and harmful gasses. APS manages product development for customers at all stages of the product life cycle. In addition, the company assembles electromechanical modules and machines high-technology, complex components.

"The Deloitte Connecticut Technology Fast 50 companies have shown the strength, vision and temerity to succeed despite a very challenging technology environment," said David Carver, Partner, Deloitte's Technology, Media & Telecommunications practice in Connecticut. "We applaud the successes of APS Technology and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years."

William E. Turner, President of APS Technology, attributes the success of the firm to "our unique combination of experienced, highly skilled engineers and the latest in design, analytical and manufacturing tools and our ability to apply them to the difficult environment down in an oil well. It is especially gratifying to note that APS Technology is one of the few engineering and manufacturing companies to be part of the Connecticut Technology Fast 50 ranking."