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NEW YORK–(BUSINESS WIRE)–SpongeTech® Delivery Systems, Inc. (“SpongeTech”) “The Smarter Sponge™”, (OTC: SPNG – News) today announced that the Company has completed the design and development of SpongeTech’s Pink Panther Children’s Soap Filled Bath Sponge. The new Pink Panther Children’s Soap Filled Bath Sponge product will be in production shortly and will be available in Spring 2010. SpongeTech customers can now pre-order the product on the Company’s e-commerce site, www.spongetech.com.

Pink Panther is an animated character that originally appeared in the opening and closing credit sequences of the 1963 live-action feature film “The Pink Panther”. This “cool cat” starred in 126 of its own short animated films, as well as numerous television shows, all set to instantly recognizable theme music composed by Henry Mancini.

“We are thrilled to expand our children’s bath sponge product line to include the famous ‘cool’ pink cat,” commented Steven Moskowitz, COO of SpongeTech. “Pink Panther has been a favorite comical cartoon figure with an international appeal spanning over 45 years and we look forward to expanding that appeal among children.”

In December 2008, SpongeTech announced a licensing agreement with MGM Consumer Products, to manufacture and market Pink Panther themed products.

About Metro-Goldwyn-Mayer Inc.

Metro-Goldwyn-Mayer Inc., through its operating subsidiaries, is actively engaged in the worldwide production and distribution of motion pictures, television programming, home video, interactive media, music and licensed merchandise. The company owns the world’s largest library of modern films, comprising around 4,100 titles. Operating units include Metro-Goldwyn-Mayer Studios Inc., Metro-Goldwyn-Mayer Pictures Inc., United Artists Films Inc., MGM Television Entertainment Inc., MGM Networks Inc., MGM Domestic Networks LLC, MGM Distribution Co, MGM International Television Distribution Inc., Metro-Goldwyn-Mayer Home Entertainment LLC, MGM ON STAGE, MGM Music, MGM Worldwide Digital Media, MGM Consumer Products and MGM Interactive. In addition, MGM has ownership interests in international TV channels reaching nearly 120 countries. MGM ownership is as follows: Providence Equity Partners (29%), TPG (21%), Sony Corporation of America (20%), Comcast (20%), DLJ Merchant Banking Partners (7%) and Quadrangle Group (3%). For more information, visit: www.mgm.com.

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.

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