Calibrum, the New Subsidiary of Progress Watch, Corp., Receives First Order.

ZURICH, Switzerland -- Progress Watch (PROW:US), Corp. is a company dedicated to independently provide high end, innovative, flexible and unique mechanical watch movements to the watch industry.

Progress Watch announces that its subsidiary, Calibrum, has received its first order. The modules will contain a combination of innovative, and at the same time classic, functions, previously not found in wrist-watches. The value of the order represents a seven-digit number.

The customer is a very old, reputable, high-end company. Progress regards the order as recognition of its ability to deliver high-end, state-of-the-art products.

The special machinery required to manufacture the modules has been ordered, and it is estimated that the first deliveries will commence in Q3, 2005.

With the new order and Calibrum's strong and experienced management team; Ronald Ledermann (CEO), Werner Nydegger (CFO) and Peter Perler (CPO), Progress Watch feels that it has taken a major step towards future success, bringing added value to its customers.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties and other factors not under the Company's control which may cause actual results, performance, achievements of the Company to be materially different from the results, performance of expectations implied by these forward-looking statements. These factors include, but are not limited to, the limited liquidity and the limited operating history of the Company.