SpongeTech® Delivery Systems, Inc. (“SpongeTech”) “The Smarter Sponge™”, (OTC: SPNG) today provides shareholders an overview of the Company's progress to date.

SpongeTech continues to operate its 8 wholly-owned subsidiaries that support its growing business activities. The subsidiaries are as follows:

To further promote the "SpongeTech®" brand name, the Company has entered into three (3) licensing arrangements as follows:

Green Bridge Industries, Inc. has entered into a licensing agreement, dated July 14, 2009, with SpongeTech in which Green Bridge Industries has the exclusive nationwide rights to produce, market, and distribute the SpongeTech® Stain Remover Pens.

Organic Product Solutions Inc. entered into a licensing agreement on July 22, 2009, for the use of the SpongeTech® trademark for home care, car care and industrial/commercial cleaning products.

Vanity Events, Inc. entered into a licensing agreement on August 10, 2009, granting an exclusive and non-transferable, limited license to use the SpongeTech's trademark, America’s Cleaning CompanyTM, in conjunction with Vanity's cleaning business division.

SpongeTech has engaged Greenberg Traurig, LLP on December 30, 2009 to handle the current SEC investigation and class action suits. Greenberg Traurig replaces the Company’s previous attorney, Brown Rudnick LLP.

The Company is working diligently to complete its financial reports required to file with the U.S. Securities and Exchange Commission. SpongeTech has retained James Reilly as an internal consultant to assist in these efforts. Robison & Hill remains our public accounting firm. Reilly is a licensed Certified Public Accountant (CPA) who spent 8 years with Ernst & Young LLP providing audit, accounting and tax services to publicly and privately held companies and more recently has served as CFO and/or Controller of medium sized private and public companies.

The Company will continue to update its shareholders of progress.

About SpongeTech® Delivery Systems, Inc.

SpongeTech® Delivery Systems is a company which designs, produces, and markets unique lines of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. These sponge-like products utilize SpongeTech's proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech® Delivery Systems, Inc. intends to globally brand its products as The Smarter Sponge™ .

Safe Harbor Statement

Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended May 31, 2008, the Company's Quarterly Report on Form 10-QSB for the Third quarter ended February 28, 2009. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.