SpongeTech(R) Delivery Systems, Inc. Retires an Additional 30 Million Shares to Company's Treasury
Released: 02/02/09 02:45 PM EST

NEW YORK, Feb. 2 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc., America's Cleaning Company(TM), (OTC Bulletin Board: SPNG), is pleased to announce today the company's current share structure. The company has retired another thirty million shares (30,000,000) of SpongeTech(R)'s restricted common shares (R144) stock from RM Enterprises this week which reduces RM Enterprises holding of SpongeTech(R)'s restricted common shares (R144) to approximately 480,000,000 shares of stock. This leaves the company's shares, issued and outstanding, at approximately 700,000,000.

SpongeTech(R) Delivery Systems, Inc., CEO, Michael Metter said, "Since we began our efforts, we have retired approximately 230 million shares to treasury; decreasing the issued and outstanding by approximately 29%! This should be a very positive statement to our investors, shareholders, and the public market that we are growing and here to stay."

For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: www.spongetech.com

About SpongeTech(R) Delivery Systems, Inc.

SpongeTech(R) Delivery Systems is a company which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech(R)'s proprietary, patent (and patent- pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.

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 first quarter ended August 31, 2008. 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.

    Contact:
    SpongeTech(R) Delivery Systems, Inc.
    Investor Relations:
    Bill Young, 1-877-776-6438
    wayoung55@aol.com or info@spongetech.com

SOURCE SpongeTech(R) Delivery Systems, Inc.