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BUSINESSWIRE
SpongeTech(R) Delivery Systems, Inc. Announces Acquisition of Dicon Technologies

SpongeTech(R) Delivery Systems, Inc. Announces Acquisition of Dicon Technologies

SpongeTech(R) Acquires R&D Company Dicon Technologies

NEW YORK, Jul 09, 2009 (BUSINESS WIRE) -- SpongeTech(R) Delivery Systems, Inc.,
America's Cleaning Company(TM), (SPNG) is pleased to announce that the Company
has acquired Dicon Technologies ("Dicon"), a company that specializes in research
and development of products derived from hydrophilic urethane chemistry. The
Board of Directors of SpongeTech(R) and Dicon have approved and completed the
transaction. SpongeTech(R) acquired Dicon for $4.45 million in cash only. The
Company has immediately picked up approximately $10 million in revenues and
approximately $1.5 million in pre-tax earning from the acquisition. Dicon
currently sells various products including private label brands for multiple
industries through established channels of distribution in the U.S., including
traditional food, drug and mass market stores such as CVS, Walgreens, Kmart and
Wal-mart as well as direct sales to large commercial clients; all of which
SpongeTech(R) intends to immediately utilize. In addition to the U.S.
distribution, Dicon currently has distribution in Asia.

"Due to the overwhelming increase in sales and demand for our products, we felt
the best interest for the Company was to acquire Dicon," said SpongeTech(R)'s
CEO, Michael Metter. "The acquisition of Dicon benefits SpongeTech(R) along
multiple parallels. With this acquisition, SpongeTech(R) will obtain the
technology that we have had exclusive rights to utilize in the manufacturing of
our products and enable a more efficient and expeditious R&D process for the
expanding of our product lines. In addition, SpongeTech(R) will acquire all
current and future products within Dicon's portfolio."

"We are energized at the potential unleashed by the union of our two companies,"
commented SpongeTech(R)'s COO, Steven Moskowitz. "The growth of the Company has
given us the ability to acquire Dicon without dilution. We believe that this
acquisition places SpongeTech(R) in an excellent position to maximize the value
of our Company and its future."

Established in 1975, Dicon Technologies has been researching, developing and
producing some of the most innovative and successful products for multiple
industries including agriculture, cosmetic, household and medical. Today, Dicon
is recognized as an innovator in product development, setting new standards and
creating products with far-reaching implications throughout these industries.
Headquartered in Black Creek, Georgia, Dicon operates a new, state-of-the-art
30,000 sq. ft. research and manufacturing facility where over 65 researchers,
product development and manufacturing personnel work on multiple, current, and
future products.

Dicon's President, Wayne Celia, comments, "We have always strived to create
products that are not only technologically advanced but provide the end user
benefits unforeseen in previous products in the marketplace. Teaming up with
SpongeTech(R) is the perfect solution to providing a strong portfolio of
innovative products that management believes will blow the marketplace out of the
water."

Details to the acquisition of Dicon Technologies will be in the Company's Form
8-K filing at http://sec.gov/.

For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or
visit the Company's website at: http://www.spongetech.com.

About SpongeTech(R) Delivery Systems, Inc.

SpongeTech(R) Delivery Systems is a company which designs, produces, and markets
unique lines of reusable cleaning products for Car Care, Child Care, Home Care
and Pet Care usages. These sponge-like products utilize SpongeTech(R)'s
proprietary, patent (and patent-pending) technologies and other technologies
involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other
ingredients. The Company's sponge-like products are pre-loaded with specially
formulated ingredients such as soap, conditioner and/or wax that are released
when the sponge is soaked and applied to a surface with minimal pressure.
SpongeTech(R) is currently exploring additional applications for its technology
in the health, beauty, and medical markets. SpongeTech(R) Delivery Systems, Inc.
intends to globally brand its Company as America's Cleaning Company(TM).

Safe Harbor Statement

Under The Private Securities Litigation Reform Act of 1995: The statements in
this presentation that relate to the Company's expectations with regard to the
future impact on the Company's results from new products in development are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. The results anticipated by any or all of these
forward-looking statements may not occur. Additional risks and uncertainties are
set forth in the Company's Annual Report on Form 10-KSB for the year ended May
31, 2008, the Company's Quarterly Report on Form 10-QSB for the Third quarter
ended February 28, 2009. The Company undertakes no obligation to publicly release
the result of any revisions to these forward-looking statements that may be made
to reflect events or circumstances after the date hereof, or to reflect the
occurrence of unanticipated events or changes in the Company's plans or
expectations.

SOURCE: SpongeTech(R) Delivery Systems

SpongeTech(R) Delivery Systems, Inc.
Investor Relations:
Bill Young, 1-877-776-6438
[e-mail] or [e-mail]
or
Connecting Markets GmbH
Toll Free: +0800 100 42 92
Fon: [phone]
Fax: [phone]
Email: [e-mail]


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