Datameg Announces Audited 2006 and 2005 Financials for American Marketing & Sales Inc

Business Wire, Jan 15, 2008

SALT LAKE CITY -- Datameg Corp (OTCBB: DTMG) today announced audited financial statements for fiscal 2006 and 2005 for American Marketing & Sales Inc., the wholly-owned subsidiary acquired in 2007.

In a Form 8-K/A filing, American Marketing & Sales reported total sales of $9,464,147 for 2006 and $8,841,004 for 2005. Net income was $1,076,093 for 2006 and $1,109,269 for 2005. Datameg announced in December 2007 that it had completed the acquisition of the company in exchange for 15 million unregistered shares of Datameg common stock.

Datameg also announced that it expects to report pro-forma nine-month 2007 results for the combined operations by the end of January 2008.

"Based on the numbers we are reporting today, we believe that our pro-forma will mark a milestone in Datameg's history as we will be showing consistent revenues. Not only have we acquired a cash-flowing business, but we're also fortunate to be adding the management expertise that American Marketing and Sales President Leonard Tocci brings," said Datameg Chairman Jim Murphy. "This confirms our progress in our aim of creating a dynamic new Datameg."

Datameg also announced that its wholly-owned subsidiary Net Symphony has delivered, as scheduled in December 2007, a working prototype based on plans and engineering designs developed in the second and third quarters of 2007. That product development remains on schedule as the prototype is undergoing active testing.

About Datameg

Datameg Corporation (OTCBB: DTMG) is a diversified holding company with subsidiaries in the technology industry and in food packaging products. Datameg's wholly-owned subsidiaries Net Symphony and QoVox Corporation design, develop and offer network-wide fault identification, fault isolation and voice quality assurance products and critical real-time network health and performance monitoring services for both providers and end-users of Internet telephony, now commonly referred to as Voice Over Internet Protocol (VOIP). Computer Ctr.Com provides a wide range of technology solutions and is a strategic technology supplier to QoVox and Net Symphony. American Marketing and Sales, Inc. D/B/A Innovative Designs markets finished food packaging products nationwide to major supermarkets and food retailers. For more information on our subsidiaries, visit our web site at www.datameg.com/ir.html

Certain statements contained herein are forward looking. These forward-looking statements are based on our current expectations and are subject to a number of risks, uncertainties and assumptions. Many factors could cause actual results to differ significantly from these statement, including our history of operating losses, our need for additional financing, a failure of our products to perform as expected, introduction of competing products by other companies, pressures on prices from competitors and/or customers, regulatory obstacles to new product introductions, lack of acceptance of our products and changes in the VOIP and technology industries. These risks, uncertainties and assumptions are detailed in documents filed by us with the Securities and Exchange Commission. The Company cautions that the foregoing list of important factors is not exclusive. Any forward-looking statements are made as of the date of the document in which they appear. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.