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To: Mr Metals who wrote (6604)	8/6/1999 1:59:00 PM
From: Spark	Read Replies (1) \| Respond to of 150070

Cobra Technologies Inc. Announces Record-Breaking Sales for Subsidiary pinneast.com Business Wire - August 06, 1999 11:51 BOCA RATON, Fla.--(BUSINESS WIRE)--Aug. 6, 1999--Cobra Technologies Inc. (OTC BB:CBRA) announced record sales for pinneast.com in the month of July. pinneast.com, based in West Columbia, S.C., released monthly sales figures for contracts in excess of $500,000.00, exceeding original projections by 100%. This puts pinneast.com on track for an overall annual increase of at least 75% over 1998 revenues. Much of the growth was from initial agreements with new clients including, Dow Chemical (NYSE:DOW), Michelin, and Volvo (Nasdaq:VOLVY). Mitch Smith, vice president of pinneast.com said: "These figures represent the beginning of a period of exciting and explosive growth for our company. The general acceptance of multi-media web based training and client requirements for E-commerce solutions in the marketplace will continue to drive our business." pinneast.com, a wholly owned subsidiary of Cobra Technologies Inc. was the first in a series of acquisitions scheduled for this year. pinneast.com is a leading developer of Web based training, servicing a diversified base of industries with clients including, Delta Airlines, Nations Bank, Pillowtex (NYSE:PTX), US Army (Logicon) and Warner Lambert (NYSE:WLA). Last month, Cobra announced an agreement to acquire 15 year old, Tewksbury, Mass. based CMI, completion of which is expected before the end of August. The pending acquisition of CMI, a network solutions provider and systems integrator, represents another important step in the execution of Cobra's business plan of acquiring niche market businesses on track for a growth rate of 50% or higher per annum, servicing Fortune 1000 Companies. CMI released audited figures for last year of $16 million with pre-tax profits of approximately $1 million. CMI clients include AOL (NYSE:AOL), Lucent Technologies (NYSE:LU), Hewlett-Packard (NYSE:HWP), Capitol One (NYSE:COF), Sodexho-Marriott (NYSE:SDH) and many other companies, again representing a broad client base of high growth companies. About Cobra With Corporate offices in Boca Raton, Cobra Technologies Inc. is currently evaluating more than 50 privately held businesses with revenues exceeding an aggregate of $500 million. The company has signed letters of intent to acquire companies with consolidated revenues of at least $50 million in calendar year 1999 and began executing the business plan with the acquisition of pinneast.com (http://www.pinneast.com). Cobra's mission is twofold: (1) to build shareholder value through the acquisition of private IT service companies focused on network integration systems, engineering and solutions; and (2) assist and support client companies to effectively utilize, manage and thereby achieve maximum benefit and advantage from - their IT capital investments. Cobra Website: cobrainc.com Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to, the risks described in filings with the Securities and Exchange Commission. CONTACT: Cobra Technologies Inc., Boca Raton Michelle J. Michalow, Chief Information Officer 561/395-1920 or The Pinnacle Group, Great Neck, N.Y. Mark Cohen, 516/773-2477