06/05/08 WGCH Owner Michael Metter Releases A Press Release To SpongeTech Shareholders

SpongeTech(r) Delivery Systems, Inc. CEO Michael Metter Issues Corporate Update on Company for Shareholders
Thursday June 5, 2008 9:10 AM EDT

NEW YORK, NY (PRNewswire) SpongeTech(r) Delivery Systems, Inc. (OTCBB: SPNG) has had a lot of activity in the past several months and we want to take the time to update our shareholders on some of our recent accomplishments and delve a little into what they can expect moving forward in the next few quarters.

Message from SpongeTech(r) CEO, Michael Metter:

Dear Shareholders:

FINANCES

Un-audited revenues for our fiscal fourth quarter ending May 31, 2008, were approximately $3,875,000; approximately $600,000 ahead of guidance and an increase of $2,315,000 over our fiscal third quarter.

With our balance sheet and cash positions, we have greatly improved due to the increased sales of our products. We do not expect to have any dilutive financing in the near future.

ORDERS

Confirmed signed orders for fiscal year 2009, which started four day ago, are $27,000,000. We see no reason why these orders won't be shipped in their entirety. We are experiencing strong demand in the United States and very strong demand from international buyers

MARKETING

Marketing efforts continue to provide new customers for our "Car Care" products. We are optimistic that this trend will continue and we hope to announce new retail accounts in the near future.

We plan to formally introduce our "Pet Care" as well as our "Child Care" (Puddle Pals) products during July and August. We have increased our production capacity, purchased fabrication molds, and increased our sales and support team to handle the anticipated increased business.

PRODUCTION

Independent sub-contractors using our patented technology and brand names produce our products here in the United States. These sub-contractors have adequate capacity to meet our growing demand.

OPERATIONS

Under the SpongeTech(r) Delivery Systems corporate umbrella, we plan to operate SpongeTech(r) as five operating divisions as new products are introduced:

Car Care Products
Pet Care Products
Child Care Products
Home Care Products
Pharma and Beauty Products

MANAGEMENT
Management is actively seeking other opportunities for its patented delivery system. Our Research and Development team are currently testing and evaluating new uses for our delivery system. I would like to thank the Management Team for a great year and they are already set to more than double next year.

OUTLOOK

We are currently in negotiations with major retailers who are now evaluating and "test marketing" our products. For contractual and competitive reasons, we cannot further elaborate. At this time, I may add, we do not have signed contracts or firm orders and there is no assurance that our proposals to these clients will be accepted.

We are also in negotiations with a major supplier of Brand Name household cleaning products. Our discussions focus on SpongeTech(r) using its patented technology to produce various household cleaning products using the Brand Name of our prospective client. Let me again say, while we are hopeful, there is no assurance of our entering into a final agreement with this client.

We are also evaluating and testing our product delivery system using our patented technology in other products. These include suntan lotion, topical medical uses, beauty aids, and other hardware and houseware product solutions.

In conclusion, we are pleased with our progress and look forward to continued growth in the next year.

Best Regards, Michael Metter, SpongeTech(r) CEO

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

About SpongeTech(r) Delivery Systems, Inc.

SpongeTech(r) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for the automotive aftermarket parts industry. These sponge-based products utilize SpongeTech's(r) proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's primary product line has been designed specifically for automotive/vehicle applications, however, SpongeTech(r) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.

"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release 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 December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. 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

Contact:
SpongeTech(r) Delivery Systems, Inc.
Investor Relations:
Bill Young, 1-877-776-6438
wayoung55@aol.com
or
info@spongetech.com

SOURCE: SpongeTech(r) Delivery Systems, Inc.