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SpongeTech(R) Delivery Systems Announces Reverse Stock Split to Move Closer to NASDAQ Listing.

Sep. 8, 2009 (Business Wire) -- SpongeTech® Delivery Systems, Inc. (“SpongeTech”) “The Smarter Sponge™”, (OTCBB: SPNG) today announced that its Board of Directors has unanimously approved a reverse split of SpongeTech®’s issued and outstanding capital stock at a 1-for-100 split ratio. The reverse stock split, which is expected to take effect on September 22, 2009, subject to receipt of necessary regulatory approvals, has also been approved by the holders of more than a majority of SpongeTech’s voting capital stock.

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