March 7, 2005 - Vancouver, BC – Momentum Technologies, a global provider of outsourced software development services, announced that effective March 7, 2005, Momentum becomes a wholly owned subsidiary of the Newell & Budge Group, one of the UK and Ireland's fastest growing independent IT consultancy and services companies.

Speaking about the acquisition, Pankaj Agarwal, CEO of Momentum commented "We had discussions with Newell and Budge for last many months on possible ways of partnership. We found a good cultural and business fit.? And we decided to combine our operations and in the process creating a larger entity covering North America and Europe, with strong offshore capabilities. We find it a great opportunity for all of us at Momentum."

Ann Budge, CEO of Newell & Budge, comments "This acquisition is the next logical step in our offshore strategy. We have been working for over seven years with Indian partners, delivering a number of very large projects in that time. Buying Momentum gives us access to a highly technical offshore facility, which fully complements our current UK workforce.? Being based in Noida, one of India's strongest IT development centers gives us a platform on which to expand the offshore operation very quickly. Momentum is a good fit with our existing business. Its strong management team, proven technical skills, best practice methodologies and international company culture, means it is ideally placed to complement our own capabilities."

For more information please send an email at: northamerica@momentum-tech.com