Modern Technology Corp Launches Asia and Far East Operations Sunil Dwivedi Assumes Managing Director Position OXFORD, Miss., Sept. 28 /PRNewswire-FirstCall/ -- Modern Technology Corp. (OTC:MOTG) (BULLETIN BOARD: MOTG) , a business development and acquisition company, announced today that it has expanded its activities to the Asia and the Far East markets. To manage operations in these regions, the company has appointed Sunil Dwivedi as managing director. Mr. Dwivedi has over 14 years of senior management and engineering experience in the telecommunications, information technology and energy industries. His background includes positions with noteworthy organizations such as Reliance Infocomm, Escotel, KPMG Peat Marwick and Siemens Limited. "We are fortunate to add Sunil's impressive depth of experience to our team," said Anthony Welch, Modern Technology Corp chairman. "He is a perfect fit for attracting synergistic companies to our growing portfolio. His expertise in corporate strategy, technology management and business development, along with the numerous professional relationships he has developed during his career, will produce many new opportunities for Modern Technology Corp. His engagement represents our latest action in continuing the execution of our acquisition and expansion plans." "I look forward to representing Modern Technology Corp in Asia and the Far East," said Sunil Dwevidi. "I believe the company's unique acquisition model will be attractive to a number of growing companies. The strategy creates a "win-win-win" situation for the portfolio companies, the shareholders and Modern Technology Corp." In August 2004, Modern Technology Corp announced it had expanded its operations to Europe, the Middle East and Africa, under the direction of Managing Director Colin Inker. The launch of the Asia and Far East operations positions Modern Technology Corp. to capture opportunities throughout the world. In addition, Modern Technology Corp. signed a letter of intent to acquire New Jersey-based Sound City, a specialty audio video consumer electronics retailer with 2003 revenues of $10 Million and expected 2004 revenues of $12 Million. The company also added a minority position of DeMarco Energy Systems (PinkSheets: DMES) to its portfolio of companies and expects to announce other acquisitions in the very near future. With these recent additions, Modern Technology Corp continues to execute its growth strategy through acquisitions, market development and revenue expansion. The Modern Technology acquisition model is based on it unique Forward Capitalization model for making acquisitions, consistently building market value while simultaneously mitigating, or eliminating, negative dilution of common stock. The Company devised it Forward Capitalization model to facilitate its qualification for a larger national market exchange in the near future. About Modern Technology Corp. Founded in 1982, Oxford, Mississippi-based Modern Technology Corp (MOTG) is a business development and acquisition company, focused on growth by strategic acquisitions and subsequent market and revenue expansion. MOTG provides business infrastructure, substantial intellectual capital, strategic investments, and ongoing support and revenue growth assistance to each individual company within its portfolio. In addition, MOTG provides mentoring and assistance through collective operations experience, significant industry contacts, and strategic and tactical advice. The company's mission is to consistently build shareholder equity through accretive acquisitions, to continue providing both stock and cash dividends to its shareholders, and to create and promote synergistic relationships among portfolio companies and affiliates. For more information, visit the company's web site at: http://www.moderntechnologycorp.com/ . Safe-Harbor Statement This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission. Company Contacts: Media Contact: Susan Cable Vice President of Marketing +1-623-465-5929, DATASOURCE: Modern Technology Corp. CONTACT: Susan Cable, Vice President of Marketing of Modern Technology Corp., +1-623-465-5929, Web site: http://www.moderntechnologycorp.com/

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