July 18, 2006 at 11:00 AM EDT
CSMG Technologies Retains Investment Banking Firm Empire Financial Group to Lead Financing Strategies to Fund Growth Initiatives

CSMG Technologies, Inc., (OTCBB: CTUM):

-- Live Tissue Connect, Live Human Tissue Bonding Subsidiary, to Immediately Seek Funding via Private Placement; Targets Follow-on IPO

-- Live Tissue Connect Moving Rapidly to Commercialize Patented Device Technology in U.S., Europe and Asia

CSMG Technologies, Inc., (OTCBB: CTUM) a technology management company focused on commercializing human live tissue bonding devices and renewable energy landfill gas production systems, announced that it has retained investment banking firm Empire Financial Group (Amex: EFH) to develop and lead financing strategies.

CSMG President and CEO Donald S. Robbins said, "Our patented human live tissue connecting device technology, as well as our patented purification of landfill gas to pipeline quality gas, are both moving closer to commercialization. We have engaged Empire Financial Group to develop and implement financing strategies to meet the Company's cash requirements to fund the accelerating growth of these leading-edge technologies. We anticipate our Live Tissue Connect subsidiary will be foremost in our focus as we look to fund additional development of our bonding devices, pursue global patent protection and add to working capital. We are confident we could therefore continue to rapidly move forward our commercialization strategy in Europe, the U.S. and Asia."

"We believe Empire Financial Group is well suited to our needs, as they understand our technologies, and importantly, have been successful in raising capital for technologies and companies similar to CSMG," added Mr. Robbins. "We are also in discussions with various respected corporate parties to further development of our purification of landfill gas to pipeline quality gas subsidiary."

Mr. Ed Cabrera, Head of Investment Banking, Empire Financial Group said, "We are very pleased to have the opportunity to work with CSMG Technologies. We believe their patented technologies could experience rapid acceptance and revenue growth in their respective target markets, which are substantial. We are moving quickly to finance the Company's Live Tissue Connect subsidiary, evidenced by our current private placement offering of securities. After closing, which we anticipate within 30 days, we will begin plans for an IPO as early as this year. With regulatory approval for its devices in the U.S., revenues could be significant, as its devices replace surgical staples, sutures, sealants and other inadequate solutions currently in use."

About CSMG Technologies, Inc.

CSMG Technologies is a technology management company that finances, owns, develops, licenses and markets innovative advanced technologies and business opportunities created in the Ukraine through a network of scientific institutes and private organizations. CSMG has three subsidiaries, Live Tissue Connect, Inc., CSMG Gastech, LLC and Anaerobic Farm Waste, Inc. For further information on CSMG Technologies and it's various subsidiaries, please visit our website at www.ctum.com.

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About Empire Financial Group, Inc.

Empire Financial Group and its subsidiaries provide investment banking and corporate financing services, as well as securities brokerage, asset management, and market making services in the United States, Europe and Asia. It provides brokerage services directly to retail customers, and small- to mid-sized institutions. Empire Investment Advisors provides investment advisory services to its customers, independent registered investment advisors, and unaffiliated broker dealers. Empire Financial Holding also offers ancillary services, including market data and financial information, portfolio tracking and records management, cash management services, and account security. Based in Longwood, Florida, the company, founded in 2000, has offices in NYC, NY and other locations throughout the U.S.

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

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