Five and Under

[sd3]

IBIZ moving and IHTL has news....Innovative Holdings & Technologies, Inc's USTech Materials Subsidiary Announces


New
Agreement With Ashland, Inc.

Business Editors & Technology Writers

ORLANDO, Fla.--(BUSINESS WIRE)--July 11, 2001--Innovative
Holdings & Technologies, Inc., (OTCBB:IHTL) has announced that its
USTech Materials Corporation (USTM) subsidiary has been granted a
worldwide licensing agreement with Ashland, Inc. (NYSE:ASH) for the
PolyEther Amide Resin (PEAR) high performance resin system. A previous
agreement had been terminated due to the Company's lack of performance
regarding certain terms.
Under the new Agreement, USTM has an exclusive license to
manufacture and market PEAR resins in the United States, Canada,
Mexico, Central America, and, as an addition to this latest agreement,
Australia. USTM has a non-exclusive license to manufacture and market
PEAR to the rest of the world.
"This new agreement with Ashland, Inc. provides a window of
opportunity to initiate USTM's marketing and production initiatives to
bring PEAR to the marketplace," said Helmut Wyzisk, Chairman &
President of IHTL. "Earlier financing efforts were stymied by
unfavorable conditions in the capital markets. Now we can begin the
process of raising sufficient capital, naming a management team, and
cultivating PEAR's potential applications and marketing partners."
PEAR resins represent a new generation of advanced polymer resins
that show promise as superior replacements for traditional, and more
costly, fabricating materials. It has many potential applications
within industries such as aerospace, automotive, oil & gas,
electronic, electrical and sports equipment.

This press release discusses certain matters that may be
considered "forward-looking" statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding the intent, belief or current expectations of Innovative
Holdings & Technologies, Inc/USTech Materials Corporation. ("the
Company") and its management. Prospective investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve a number of risks and uncertainties that could
materially affect actual results such as, but not limited to: the
ability of the Company to raise necessary capital; to attract and
retain effective management; the lack of viable commercial
applications or the failure of third-party contractors to perform
their contractual obligations. Prospective investors are also referred
to the other risks identified from time to time in the Company's
reports and registration statements filed with the Securities and
Exchange Commission.

--30--jar/mi*

CONTACT: Innovative Holdings & Technologies, Inc., Orlando
Helmut Wyzisk, 407/481-8900
Company Web Site:
http://www.innovativeholdings.com

KEYWORD: FLORIDA
INDUSTRY KEYWORD: ELECTRONIC GAMES/MULTIMEDIA INTERNET E-COMMERCE
SOFTWARE PRODUCT MARKETING AGREEMENTS

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Jul-11-2001 12:34 GMT
Symbols:
US;IHTL US;ASH
Source BW Business Wire
Categories:
MST/R/US/FL MST/I/CSE MST/I/NET MST/I/NET MST/I/SOF MST/S/PDT
MST/S/PDT