SoftNet Technology Corp (fka SOFN)

[MBA2005]

this company is just taking a breath to keep on flying:

March 07, 2005 03:00 PM US Eastern Timezone

SoftNet Subsidiary, Indigo, Signs 2-Year Master Consulting Agreement and Is Awarded Contracts for Internet Support of 5 More Hotels

BERNARDSVILLE, N.J.--(BUSINESS WIRE)--March 7, 2005--SoftNet Technology (OTCBB Symbol: STTC) (German WKN#: A0B7RZ) announced today that wholly owned subsidiary, Indigo Technology Services (Indigo), has signed a 2-year master consulting contract with Atlanta, GA-based Pearlnet, LLC, a software development and networking company. Indigo also signed agreements to provide Internet support services for 5 new hotels.

Pearlnet has been awarded a multi-million dollar contract for the cabling and network development for the State of Georgia. Indigo will be supplying Pearlnet with Cabling and network engineers to help Pearlnet Staff up for the State contract. It is expected that Indigo will be placing the first IT consultant with Pearlnet this week. In time, this 2-year contract should more than double the current revenue and earnings of Indigo. Additionally, this further builds Indigo's relationships and should lead to more IT work in the future.

Indigo further expanded its Internet support services to 1 Holiday Inn in Florida and 4 hotels in California including -- 2 Holiday Inn Express hotels, a Crown Plaza Resort and a Comfort Suites. Each hotel brings a continual residual income to Indigo. This 24-hour Internet support service is expected to expand to all 50 states in time. "These contracts are exciting," stated Tom Raymond, president of Indigo Technology Services, "because it confirms our vision of where the Internet support business is headed. We feel like we are just beginning to scratch the surface."

Please visit our website at www.softnettechnology.com for more information or call the company directly at 866-898-4842 (local -- 908-204-9911).
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