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Netgates Holdings, Inc. Announces Its Acquisition of Intellectual Property From Sustainable Energy Development, Inc.

Posted on: Friday, 21 July 2006, 21:00 CDT

NEW YORK, July 21 /PRNewswire-FirstCall/ -- Netgates Holdings, Inc. (Pink Sheets: NGHG) announced today that effective July 11th, 2006 it entered into an agreement under which it has acquired global marketing rights to Intellectual Property from Sustainable Energy Development, Inc. ("SED").

SED holds the exclusive worldwide marketing rights to the Expanding Gas Turbine -- a bladeless, bearingless, ejector-style turbine that has widespread application to traditional power generation and to renewable energy systems.

As part of this agreement, Netgates shall file for a name change to Sustainable Energy Developments, Inc. in order to better reflect the nature of the future operations of the Company.

The Company is committed to making the turbine available to distributed generation power systems that allow for the efficient and economical production of power at or near the site where the energy is to be used.

"We are very pleased to have entered into this agreement, which we expect shall give us tremendous opportunities in the Alternative Energy Sector," said Mr. Alastair Mcrae.

Following this acquisition, the Company shall be bringing on board a new management team and Board of Directors members. More information will be available as developments occur. For further information, please contact:

http://www.sustainableenergydev.com/

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of the proposed merger and other forward-looking terminology such as "may,""expects,""believes,""anticipates,""intends,""expects,""projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. These risks, as well as other risks associated with the merger, will be more fully discussed in any joint proxy statement or prospectus or other relevant document filed with the Securities and Exchange Commission in connection with the proposed merger. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.

Netgates Holdings, Inc.

CONTACT: Mr. Alastair Mcrae, mcrae.alastair@gmail.com, +447788918793,for Netgates Holdings, Inc.

Source: PRNewswire-FirstCall

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