Modern Technology Corp to Acquire Mobile Sound

Modern Technology Corp to Acquire Mobile Sound
Acquisition to add another $800,000 in annualized revenue and add another $2M
in projected internal growth in year two 


OXFORD, Miss., Oct. 19  /PRNewswire-FirstCall/ -- Modern Technology Corp.
(OTC:MOTG) (BULLETIN BOARD: MOTG) , a business development and acquisition
company, announced today that it has entered into a Letter of Intent to
purchase the assets of Mobile Sound, Inc., headquartered in North Bergen, New
Jersey. Mobile Sound, a privately-held and a specialty car audio and
performance retailer will be acquired as part of the previously announced plan
for nationwide expansion under the Sound City brand and model.

Mobile Sound's 2003 revenues were approximately $750,000 with projected
revenues resulting from the acquired assets over the next year to be in excess
of $1,000,000 and with projected second-year revenues to be in excess of $2MM
through internal growth and cost reductions resulting from the Sound City
platform. Sound City's retail store format, custom installation model and
nationwide acquisition strategy is expected to generate in excess of $12MM for
2004 and exceed $20MM for 2005.

"Mobile Sound is an acquisition based on our nationwide expansion plans and
growth strategy for the Sound City model," said Anthony K. Welch, chairman of
Modern Technology Corp. "The addition of the Mobile Sound assets to our
portfolio moves us closer to our year-end target of $20,000,000 in overall MOTG
assets and revenues."

"The Mobile Sound acquisition is the first among many we have planned for the
Sound City model and nationwide expansion," said Kamel Yassin, Chairman/CEO of
Sound City, Inc. and MOTG's Director of Retail Acquisitions

Under the terms of the agreement, Modern Technology Corp. will acquire the
assets of Mobile Sound for a total purchase price $50,000 plus inventory paid
in a combination of cash and Preferred Stock using its Forward Capitalization
model of acquisitions.  Upon closing of the acquisition, Mobile Sound's
existing management will continue to run operations in its current locations.

With the Mobile Sound and the recent Sound City acquisition, Modern Technology
Corp continues to successfully execute its strategy of growth through strategic
acquisitions, market development and revenue expansion.  The Modern Technology
acquisition strategy is based on its Forward Capitalization model that seeks to
consistently build market value while simultaneously mitigating, or
eliminating, negative dilution of common stock.  Modern Technology Corp
recently added DeMarco Energy Systems (Pink Sheets: DMES) to its portfolio of
companies and announced a joint-venture for a national merchant banking network
with Raptor Investments, Inc. (OTC:RAPT) (BULLETIN BOARD: RAPT) .  MOTG expects
to announce additional acquisitions in the very near future.  Modern Technology
Corp plans to release details on its growth and revenue projections for 2005,
expected to be in excess of $75,000,000, and its plans for listing its Common
Stock on a larger exchange in the near future.

About Mobile Sound, Inc.

Founded in 1998, New Jersey-based Mobile Sound, Inc. is a consumer electronics
company with over 15,000 customers.  Mobile Sound markets audio solutions for
mobile environments.  The company's expertise in the mobile audio market
provides a unique competitive advantage to consumers.  As a full service
dealer, Mobile Sound provides a wide range of custom mobile audio, video and
performance installations addressing numerous applications.

About Modern Technology Corp

Founded in 1982, Oxford, Mississippi-based Modern Technology Corp (MOTG) is a
business development and acquisition company, focused on growth by strategic
acquisitions and subsequent market and revenue expansion. MOTG provides
business infrastructure, substantial intellectual capital, strategic
investments, and ongoing support and revenue growth assistance to each
individual company within its portfolio. In addition, MOTG provides mentoring
and assistance through collective operations experience, significant industry
contacts, and strategic and tactical advice. The company's mission is to
consistently build shareholder equity through accretive acquisitions, to
continue providing both stock and cash dividends to its shareholders, and to
create and promote synergistic relationships among portfolio companies and
affiliates. For more information, visit the company's web site at:
http://www.moderntechnologycorp.com/ .

Safe-Harbor Statement

This press release contains statements (such as projections regarding future
performance) that are forward-looking statements 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, including
but not limited to those detailed from time to time in the Company's filings
with the Securities and Exchange Commission.

   Company Contacts:

   Modern Technology Corp:
   Anthony Welch, Chairman, 1-662-236-5928, 

   Sound City, Inc.:
   Kamel Yassin, Chairman/CEO, [phone] x300, 

   Media Contact:
   Susan Cable, Vice President of Marketing, [phone],
   

DATASOURCE: Modern Technology Corp



CONTACT:  Anthony Welch, Chairman, [phone], or

 , or Media, Susan Cable, Vice President of

Marketing, [phone], or  , both of Modern

Technology Corp; or Kamel Yassin, Chairman and CEO of Sound City, Inc.,

[phone], ext. 300, or  



Web site:  http://www.moderntechnologycorp.com/

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