Technology Connections, Inc. (TLGY) Signs Definitive Agreement to Acquire HouseRaising, Inc. February 24, 2004 08:00:00 AM ET CHARLOTTE, N.C., Feb. 24 /PRNewswire-FirstCall/ -- Technology Connections, Inc. (BULLETIN BOARD: TLGY) (previously TGYC)announced today that it has signed a Definitive Agreement to acquire HouseRaising, Inc. The company will change its name to HouseRaising, Inc. The closing is scheduled to occur as soon as all necessary SEC filings are made and applicable waiting periods have run. "We are pleased to reach this acquisition agreement with HouseRaising, Inc.," Kevin Kyzer, CEO of Technology Connections said today. "The merger will result in an immediate increase in net assets to around $5 million and by pursuing HouseRaising's unique custom homebuilding business plan our shareholders will have an opportunity to take part in a growth oriented business that is changing the "old-way" design/build projects are conducted into a well-organized Internet based process. Operating initially in North and South Carolina, HouseRaising intends to expand sales outside the Carolinas in late 2004." R.V. McLemore, CEO of HouseRaising, Inc. added: "This merger allows us to utilize Mr. Kyzer's knowledge and skills, and to participatein the public equity markets. The merger provides liquidity for shareholders and a means to expedite growth and expansion activities through strategic acquisitions." Mr. McLemore went on to say: "During my career in the design/build industry, companies under my ownership and direction sold, designed and built over 2,000 custom homes representing a current market value of close to $600 million. HouseRaising is currently utilizing experiences gained from those 2,000 projects to create an Internet based design/build management program and a national design/build homebuilding operation that can manage and direct thousands of projects simultaneously. Our unique business methodology receives enthusiastic reviews from experts in the industry and from homebuyers, builders and vendors alike. We are developing our system and support operation to eventually provide services and support for 10,000 design/build and 10,000 renovation projects annually." Homebuilding in General Looks Great: The Homebuildingindustry is enjoying record sales and has done so for close to a decade. Low interest rates coupled with population growth, forming millions of new households each year has fueled record profits for the nation's largest builders. HouseRaising's research indicates the current level of homebuilding throughout America is sustainable as long as interest rates stay between 6% and 7%. Most economists support the theory that the current 5% rates will likely rise a percentage point during 2004. However, most of these economists believe it unlikely that rates will rise above the 6-7% target rate in the near future. Many analysts estimate that -- as short term rates rise with the pick up in the GDP, long-term rates, used to set mortgage rates, may remain level or even dip lower. Whatever the outcome, we believe homebuilding in general should remain brisk through 2010. Additionally, the design/build segment of the homebuilding industry is less dependent on interest rates than other sectors. HouseRaising'sDesign/Build Franchise: The HouseRaising Franchise represents a tried and proven process that provides users a way to manage emotional issues faced in every design/build project. This process allows homebuyers and builders to conduct business fairly and enjoyably, building complicated projects at fair prices. HouseRaising is combining its system and support operation into a franchise structure capable of duplication regionally and nationally. Through two subsidiaries, HouseRaisingAcademy and HouseRaisingUSA, the company believes its franchise will revolutionize the design/build industry. HouseRaisingAcademy(HRA): HRA is an internet-based portal and digital framework for HouseRaising's proprietary design/build management system named System C. System C addresses 1,269 issues through implementation of 3,400 business requirements. The Academy is an online learning program utilized to teach users the what, how and why of the design/build process outlined in System C. HouseRaisingAcademy links homebuyers, homebuilders and vendors in an organized and focused experience designed to achieve predictable results. Additionally, by linking classroom and Internet learning programs, HouseRaisingAcademy is developing System C and E-learning capabilitiesto retrain out-of-work individuals to become successful entrepreneurs in the design/build industry. HouseRaisingUSA (HR-USA): is the operational arm of the franchise. HR-USA is the people side of the business, connecting the franchise and digital system to homebuyers and local builders -- turning design and build projects into successful endeavors. HR-USA extends the franchise nationally by establishing and managing regional design/build operations. When fully implemented, HR-USA will create 150 regions developing 4,000 builder relationships linked to affiliated vendors providing contracts for services and support. Statements in this press release regarding the expansion of the Company's operations are forward-looking statements. Words such as "expects", "intends", "anticipates", and "likely" also identify forward-looking statements. Actual results may differ from such forward-looking statements as a result of a number of factors. CONTACT: Andre Nazarian Director of Investor Relations 770 Lexington Avenue New York, New York 10021 212-725-4805 DATASOURCE: Technology Connections, Inc. CONTACT: Andre Nazarian, Director of Investor Relations of Technology Connections, Inc., +1-212-725-4805

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