Monterey Bay Tech Signs Letter of Intent to Acquire SpaceLogic WATSONVILLE, Calif., Dec. 21 /PRNewswire-FirstCall/ -- Monterey Bay Tech, Inc. (OTC BB: MBYI) today announced that on December 20, 2004, the Company signed a Letter of Intent to acquire SpaceLogic, Ltd., an Israeli company. The closing of the transaction is subject to the completion of due diligence by the parties and the negotiation and execution of definitive agreements. SpaceLogic develops systems for US and international airports that unify baggage screening and secured baggage handling systems into a single integrated solution. DATASOURCE: Monterey Bay Tech, Inc. CONTACT: Jonathan Kahn, +1-831-768-3622, for Monterey Bay Tech, Inc.

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