Carina Technology Retools Designs; Prepares for Growth

(Huntsville, Alabama 3/26/2005)

The third quarter of 2004 brought AMBS, Inc. to a major turning point after a number of setbacks ending with the untimely loss of one of the core management team to a traffic accident. Although the innovative product offerings, which were based on technology developed at Teledyne Brown Engineering, were broad they lacked focus and a comprehensive business direction.

In a period of 5 months the company has acquired a strong and diversely talented board of directors and a new, industry seasoned, management team. They, in turn, have restructured the organization, retooled the product designs and changed the name to Carina Technology, Inc. With new product versions focused in the management team’s industry of expertise set for delivery in May, Carina is on the precipice of substantial growth.

“We are amazed at the rapid turnaround that the new management team has been able to accomplish. Bill Hetherington, President and CEO, has done a tremendous job laying out the vision, building the plan, and getting the Company focused on execution” said Jay Newkirk, Chairman of the Board.

Carina Technology, Inc, a Huntsville AL-based technology firm providing patented and patent pending remote monitoring and control equipment has developed a wireless collar unit, designed to fit existing residential electric meter sockets and utilize the existing meters. This allows utilities to collect meter data, disconnect and reconnect the meter remotely and establishes a low cost 2-way communication network with every customer.

“The electric utility metering technology market is very large (over $1 billion), and we are very excited about the acceptance of our technology by the utility industry and about the foundation this will create for future products and services” said Bill Hetherington, President and CEO.


About Carina Technology:
Carina Technology, Inc. is a Huntsville, AL-based technology firm that sells patented and patent pending remote monitoring and control equipment, principally for the U.S. utility industry. Using the existing cellular infrastructure, our CarinaXchange™ data management software and in-house integration expertise can deliver information to any utility system, with lower capital and operating costs than current technologies. More information about Carina can be found on the internet at www.carinatek.com.