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CoroWare and LTC International Announce Intent to Merge
8:30a ET November 13, 2008 (GlobeNewswire)

CoroWare, Inc. (OTCBB:CROE), a systems and robotics technology integrator, announced today it has signed a Letter of Intent to acquire LTC International, Inc., a leading business operations and telecommunications consulting firm.

Founded in 1998, LTC International specializes in the business and technology of telecommunications. Their skilled and highly experienced consultants and Business Operations Architects(r) improve business performance, solve problems and deliver results for companies around the world and across the telecommunications industry.

"LTC International's business consulting expertise is a strategic and logical complement to CoroWare's technical consulting capabilities," said Lloyd Spencer, CEO of CoroWare, Inc. "This merger will provide our combined customers with a more complete range of services and solutions and will offer both companies accelerated growth potential."

CoroWare -- through its subsidiary CoroWare Technologies -- and LTC International plan to grow their operations by offering business and technical consulting services to their combined customers and by addressing the need for telepresence solutions by small- to medium-sized businesses and enterprise customers.

This announcement does not guarantee the acquisition of LTC, Inc. by CoroWare, Inc. The completion of the acquisition is subject to the negotiation and execution of a definitive acquisition agreement, the completion of legal and financial due diligence, board approval for both companies, shareholder approval of LTC International, CoroWare raising sufficient working capital and customary closing conditions.

About LTC International

LTC International provides leading companies in the telecommunications and IT sectors a unique level of service based on true subject matter expertise. LTC's Business Operations Architects(r) each have at least ten years of hands-on experience working with wireless and wireline communications service providers, communications-intensive enterprises, IT departments and software companies. LTC's consulting team blends extensive experience in business management, operations, systems and networks to specialize in optimizing the entire operational environment -- people, processes, and systems; thereby, improving operational performance, productivity and the customer experience.

About CoroWare

CoroWare, Inc. is a software and software professional services provider and mobile robotics integrator that delivers high value services and innovative solutions to maximize technology investments and achieve customers' goals. CoroWare has depth of knowledge and breadth of experience in developing software and solutions for mobile service robotics and business automation through products that include the CoroBot(r) product line. For more information, please visit www.coroware.com.

The names of actual companies and products mentioned herein may be the trademarks of their respective owners. This press release is written using forward-looking statements pursuant to the Private Securities Litigation Reform Act of 1995: http://www.sec.gov/about/laws/sea34.pdf (Sec. 21E p. 223).

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: CoroWare, Inc.

CoroWare, Inc. Kami Noland [phone] x728 [e-mail]