DPFD Deep Field Technologies Inc (CE)

Deep Field Technologies, Inc. (OTC Bulletin Board: DPFD) announced today that the company with which it has entered into a definitive securities exchange agreement, Beijing Sino-US Jinche Yingang Auto Technological Services Ltd. ("AutoMart"), the premier automobile after service company in Beijing, China, has entered into agreements with seven major Chinese insurance companies, including Zhong Hua United Property Insurance Company, Pacific Insurance Company, An Bang Property Insurance Company, Sunshine Property Insurance Company, China People's Property Insurance Company, Hua An Property Insurance Company, and Tian An Property Insurance Company. The agreements state that the companies will directly send their customers to damage evaluation centers to be located at 4 AutoMart centers in the event of a claim. The customers will be able to process their claims with the companies based on quotes provided by AutoMart. Customers can then have the damages fixed. This process is the most advanced of its kind right now in China. Customers no longer have to go back and forth between different entities in order to have a car repaired under an insurance claim. Mr. Pang Guisan, Chairman and President of Automart, stated, "We currently have 30 auto centers in Beijing, and we expect to have 60 in Beijing by the first quarter of 2006. This growth will be fueled by contracts like we now have with the seven insurance companies." Jerry Mahoney, Chairman of Deep Field Technologies, further explained, "The insurance companies will now refer their clients directly to AutoMart, the quality service provider in Beijing." This will enable AutoMart to reach its target of auto club members in its system by June 2006." Mark Meller, CEO of Deep Field, commented, "Mr. Pang and his team have developed an exciting new marketing approach in Beijing. They continue to execute agreements with world class organizations, each of which will enable the company to rapidly gain market share. We look forward to AutoMart becoming the dominant auto care company in Beijing, and in all of China." The closing on the definitive securities agreement is subject to: (i) approval by shareholders of Deep Field Technologies, (ii) financing in the form of a convertible debenture for not less than $4 million and (iii) the requisite approvals by the People's Republic of China. It is anticipated that this transaction will close in the first quarter 2006. The Company will continue to trade on the OTC Bulletin Board. About Deep Field Technologies Deep Field Technologies is involved in the acquisition and build-out of technology and software companies, and presently sells unified messaging systems, which store all messages in one location for access, typically a groupware database with one single list of users for e-mail, voice, telephones and computers. For more information, contact Deep Field Technologies: -0- *T Jerry Mahoney Non-executive Chairman of the Board (732) 441-7700 jerrym@deepfieldtechnology.com Mark Meller President and Chief Executive Officer (732) 441-7700 markm@deepfieldtechnology.com *T Certain information included in this press release, may contain forward-looking statements about our current and expected performance trends, growth plans, business goals and other matters. These statements may be contained in our filings with the Securities and Exchange Commission, in our press releases, in other written communications, and in oral statements made by or with the approval of one of our authorized officers. Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation Reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.