Edge Technology adds IBM Professional Services with Acquisition of Universal Data Technology

Business Wire, June 12, 2002

Business Editors & High Tech Writers

DALLAS--(BUSINESS WIRE)--June 12, 2002

Edge Technology Group, Inc. (OTCBB:EDGE) announced today its newly formed subsidiary, UDT Consulting, Inc., has acquired the assets of Universal Data Technology, Inc., a professional services firmed focused on software integration and implementation.

UDT Consulting's services fall into three core consulting practices: E-Business, system and storage management and database management. The three areas work together to deliver complete enterprise wide IT solutions. Working with best-in-class partners, the E-business practice offers solutions ranging from enterprise web and media content management to full-scale Portal and E-commerce development. The system and storage management practice ensures effective use of E-business infrastructure by offering widely available system and storage solutions. UDT Consulting's database management practice offers solutions ranging from database design and performance tuning to full lifecycle development of Enterprise Resource Planning and Business Intelligence applications supporting IBM/Informix, Oracle and Microsoft. Customers include such companies as Daisytek, Aegis Communications Group and several Texas Independent School Districts (HEB, Irving, Killeen)

UDT Consulting is a certified partner of IBM/Informix Software Solutions Alliance and Art Technology Group, and has strategic alliances with BEA Systems, 4js, NextPage, Hewlett Packard and Veritas Software.

Graham C. Beachum III, General Manager and Vice President of Edge, commented, "Our focus on providing middle market companies with integrated data solutions requires us to support multiple infrastructure and database technologies. The services of UDT Consulting allow us to expand our scope to include IBM, Informix and Microsoft." Mr. Beachum added, "The strong management team and experienced professional resources, both compliment and enhance our acquisitions to date."

The acquisition was financed through a recent private placement of convertible preferred shares.

About Edge Technology Group:

Edge Technology Group, Inc. acquires and operates technology products and service companies including IT consulting and integration services, business application software and application service providers. Edge has targeted technologies and services providing infrastructure business applications to middle market companies. Edge's products and services are focused on enhancing the capabilities of customer's business operating systems. Besides Universal Data Technology, Edge's recent acquisitions have included VirtuallyThere, a web services firm, The Visionary Group, a professional services firm specializing in the installation, integration and application of software solutions from Oracle Corporation, and Media Resolutions, an application and managed hosting services provider. www.edgetg.com

About UDT Consulting, Inc.:

Since 1998, the people of UDT Consulting have offered a complete line of professional computer software consulting services targeted at companies ranging from the middle market to Fortune 100. Solutions ranging from database programming and maintenance to the more complex full-scale E-commerce and content management solutions are available from UDT Consulting. www.udtcorp.com

This release includes forward-looking statements, including statements concerning expanded product and service offerings and the expectation that such offerings will complement those of Edge's existing affiliated companies. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including Edge's ability to manage and adapt changing and expanding operations and other factors detailed in the Company's 10-KSBs, 10-QSBs and other Securities and Exchange Commission filings. These filings can be obtained through the SEC's website at www.sec.gov. Edge does not intend to update any written or oral forward-looking statements that may be made from time to time by or on behalf of the company.