OrganiTECH USA, Inc.(fka ORGT)

[midastouch017]

Organitech USA Inc., Announces Financial Results for Q3 2006
Monday November 13, 11:05 am ET
$1,171,146 in Revenues Compared to $857,509 in Q2 and $289,380 in Q3 2005
Third Consecutive Quarter of Growth in Revenues
The Company has fulfilled all of its SEC Reporting Requirements and Expects to Resume Quotation on OTC Bulletin Board

YOKNEAM, Israel, November 13 /PRNewswire-FirstCall/ -- OrganiTech USA Inc., (OTC: ORGT - News) announced its quarterly results for the nine-month and three-month periods ended September 30, 2006.

Revenues were $1,171,146 for the three months ended September 30, 2006, compared to $857,509 for the three months ended June 30, 2006, $434,407 for the three months ended March 31, 2006 and $289,380 for Q3 2005.

Revenues were derived primarily from a new large scale project in Spain, the deployment of which has commenced, for a total consideration of $2.3 million, and from the completion of a large scale project in Russia, for a total consideration of $2.7 million, for which the unrecognized balance amounting approximately $570,000 was fully recognized.

Gross profit was $173,077 for the three months ended September 30, 2006, compared to gross loss of $24,325 for the three months ended September 30, 2005.

Net loss was $318,554 for the three months ended September 30, 2006, compared to a net loss of $218,132 for the three months ended September 30, 2005.

Mrs. Heli Ben-Nun, the Company's CEO said: "We are happy to announce the financial results for this quarter, which is the third consecutive quarter of growth in revenues. The agriculture industry is a traditional one, and consequently the implementation of changes is challenging and takes longer than in other industries. However, given OrganiTech's recognized technological leadership and the market potential in the agriculture industry, we are confident in our ability to realize the emerging opportunities and to achieve further improvements in our financial results during 2007."

Mrs. Ben- Nun added: "The Company has now fulfilled all of its SEC reporting requirements and we currently waiting for the application process for the resumption of the quotation of our shares on the OTC Bulletin Board, to be completed."

OrganiTech (OTC: ORGT - News) is a pioneer and world leader in supplying of High-Tech "hydroponics growing factory" and "Hydroponics Greenhouse", enabling the growth of lettuce, leafy vegetables, herbs and other plants, in a highly economic, automated and clean surrounding, while producing extremely high yields, maintaining lowest production costs and making optimal use of resources such as water, energy, labor and land. Our leading product, the GrowTech2500, backed with its patented and proprietary know-how (US patents No. 6243987 and 6508033; In process applications in Europe and Canada), is capable of producing 365 days a year up to 6 Millions lettuce heads - 25-30 more than traditional soil-based cultivation in field and 5-7 times more than regular greenhouse. Moreover, long-distance transportation cost of lettuce and leafy vegetables has become extremely high due to increased cost of energy. Our GrowTech2500 enables both local growers and importers of leafy vegetables the cost-effective localization of agriculture production near the point of sale, while competing with cheap local/imported products.

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