OXFORD, Miss., Sept. 17 /PRNewswire-FirstCall/ -- Modern Technology Corporation (Pink Sheets: MODC) announced today it scheduled the formal Closing date for acquiring Avatron Technology Group ("ATG"). ATG reports over $32,000,000 in projected sales with net earnings of approximately 12%. The transaction includes a maximum capital raise of $1,000,000 to cover transaction costs and facilitate growth. The Company has completed due-diligence and believes transaction funding available. Financials and Transaction Disclosure information will be timely published pursuant to paragraphs (a)(5)(i) to (xiv), inclusive, and paragraph (a)(5)(xvi) of Rule 240.15c2-11. MODC will acquire 100% of ATG on 25 September 2008. ATG is an international technology company consolidator with an emphasis on expansion into Western and Asian markets. Pro-forma consolidated revenues exceed $32,000,000 with estimated earnings of 10%. (http://www.avatrontechnology.com/) The transaction is part of previously disclosed plans to divest all unprofitable operations, eliminate debt, and provide strong equity growth. The Company believes it has substantially achieved its objectives and continues to execute its plans accordingly. MODC re-classed aged debt as paid-in capital and has returned the company to pro forma net earnings and positive shareholder equity. MODC will post full summary and consolidated financials on or about 25 September 2008. As part of MODC's new restructured operations, the Company will soon announce new management services agreements and additional acquisitions to its portfolio. The Company believes revenues may surpass $35,000,000 for 2008 should these events occur. Updates on the Company's progress and its portfolio growth will be released regularly. Revenue and asset acquisition projections will be released for 2009 through 2010. About Modern Technology Corp MODC acquires promising technology companies and related assets to promote their growth and development. The company provides interim management and related services to its portfolio and client companies. It builds revenues and asset value through a model of continuous growth and derives further income from appreciation of its portfolio and licensing or revenue-sharing agreements. Web: http://www.moderntechnologycorp.com/. Safe-Harbor This press release contains statements (such as projections regarding future performance) that are forward-looking 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. The company's web-site and prior SEC filings contain various disclosures and RISK FACTORS (incorporated herein by reference) and should be read before any investment decision. Contact: Investor Relations 1.954.727.5468 DATASOURCE: Modern Technology Corporation CONTACT: Investor Relations of Modern Technology Corporation, +1-954-727-5468 Web site: http://www.avatrontechnology.com/ http://www.moderntechnologycorp.com/

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