For Immediate Release:
April 28, 2005

CRITICALCONTROL RELEASES 2004 FINANCIAL RESULTS

CriticalControl Solutions Corp. (“CriticalControl” or the “Company”) has filed its consolidated financial statements for the year ended December 31, 2004.  Revenue for the year was $13.4 Million as compared to $9.2 Million for the year ended December 31, 2003 – an increase of $4.2 Million or 45%.

CriticalControl had a net loss of $2.55M for the year ended December 31, 2004 compared to $1.58 Million for year ended December 31, 2003.  The net loss for 2004 included amortization of $2.08 Million ($1.37 Million for 2003), interest expense of $0.47 Million ($0.25 Million for 2003) of which $0.18 Million ($0.12 Million for 2003) was non-cash interest paid with respect to debentures.  In addition, in 2004 the Company recorded a provision for contract losses of $0.71 Million ($nil for 2003) related to implementations of the Company’s proprietary software, and a loss on foreign exchange of $0.31 Million (compared to a gain of $0.13 Million for 2003).

“Our revenue has increased by 45% compared to 2003 through the execution of our aggressive growth strategy.  Our revenue in the fourth quarter of 2004 increased to $3.8 Million, a record for the Company.  Strong growth is expected to continue in 2005, with organic growth expected to exceed 10% between the first and second quarter of 2005.  Working capital improved considerably from a deficit of $0.48 Million at December 31, 2003, to a surplus of $1.94 Million at the end of 2004.  Operationally and strategically, we have built a company capable of long term viability and growth”, said Alykhan Mamdani, President of CriticalControl.

“Our plans for growth are centered on both top line revenue and bottom line performance.  The success of our top line is clearly evident in our 2004 financials.  The successful execution of our strategy will become evident in 2005 as our margins from all lines of business strengthen.  Management anticipates revenues in 2005 will reach $22 Million and earnings before interest, taxes, depreciation and amortization (“EBITDA”) for the year will reach $4.5 Million,” said George Watson, CEO of CriticalControl.

We seek Safe Harbor.

About CriticalControl:

CriticalControl is a technology company that builds, implements and manages critical business process solutions.  Our proprietary products are data management tools to operate the critical business operations of our government and energy sector clients.  In addition to our proprietary products, we implement large scale document and records management solutions using our strong domain expertise and in depth knowledge of our customer base.  Where critical processes require unconditional continuity, our clients look to us to manage and perform certain operational functions on a short term or long term, outsourced basis.  For more information, please visit www.criticalcontrol.com.

For further information, please contact:   

Mr. George Watson
Chief Executive Officer

or  

Mr. Alykhan Mamdani
President

(403) 705-7500     

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