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NetWorth Technologies Creates Subsidiary to Market Consulting, Network Security and IT Services to Federal Agencies.


FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla. -- Subsidiary Forms Strategic Relationship with Public Security Group of West Palm Beach, Fl

NetWorth Technologies Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
: CLME.OB) announced today the formation of NetWorth Government Systems (NWGS NWGS Naval Warfare Gaming System ), a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 that will provide strategic consulting, managed network, information security and application development services to U.S. civilian, defense and intelligence federal government agencies.

NWGS has formed a strategic relationship with Public Sector Group, Inc. (PSG PSG,
n polysomnograph; polygraph performed during sleep. Physiological variables such as pulse, blood pressure, and respiration are monitored and charted.
), and D. John Won of West Palm Beach, Florida West Palm Beach, also known as West Palm, is the most populous city in Palm Beach County, Florida, USA. The city is also the oldest incorporated municipality in South Florida. According to the University of Florida's 2006 estimates, the city had a population of 107,617. . PSG will act as a strategic advisor and help establish NWGS's business opportunities.

L. Joshua Eikov, chief executive of NetWorth Technologies, said "NetWorth Government Systems is well positioned to supply federal agencies with outstanding security and auditing services and John Won and his team at PSG have the essential expertise to work with these government agencies. It is an amazing opportunity for us. We are looking forward to getting our Reliability Edge tools into some key audit programs for the federal government as well as earning IT outsourcing or IT services opportunities."

He added, "The comprehensive information technology services and solutions that we provide make it possible for these agencies to outsource the design, implementation, integration, management, and security of their increasingly complex technology, computer networks and systems. Our focus on increasing network reliability, reducing overall network costs, and rapidly migrating mission critical network computing Storing and/or running applications in servers in a network. See cloud computing and network computer.  environments to new technologies are critical elements for maintaining the daily operations of numerous federal agencies."

D. John Won, chief executive of Public Sector Group, Inc., said "NetWorth's Reliability Edge audit and security toolset is a great product. The federal government is looking to establish more secure and streamlined systems and between our firms we can offer services and products to do just that. It's a very exciting opportunity for us to work with Josh and his team at NetWorth."

About Public Sector Group, Inc.

Public Service Group, Inc., is a full-service strategic consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee
consulting company

business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a
 that provides lifecycle support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services  for companies seeking to successfully pursue, capture and manage government business opportunities. PSG's senior-level professionals possess the knowledge and experience to successfully operate in the government marketplace.

About NetWorth Technologies, Inc.

NetWorth Technologies is a global management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business
service industry - an industry that provides services rather than tangible objects
, technology services and acquisition company. Its current portfolio consists of NetWorth Systems Inc., an information networking, security and IT auditing company. Committed to delivering innovation, NetWorth Technologies looks to acquire promising underperforming technology and technology services companies and to help them become high-performance businesses. With deep industry and business process expertise, broad global resources, NetWorth Technologies can mobilize the right people, skills, and technologies to help clients improve their performance.

Its holdings provide security services, IT outsourcing, IT asset management, and IT Governance and wireless services.

Using its industry and business-process knowledge, and our insight into existing and emerging technologies, we identify new business and technology trends and formulate and implement solutions for acquisition companies under demanding time constraints. Specifically, we help Companies:

--Identify and enter new markets.

--Increase revenues in existing markets.

--Improve operational performance.

--Deliver their products and services more effectively and efficiently.

For more information on NetWorth Technologies Inc. please visit www.networthco.com.

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 Statement

This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. These statements are based on the current expectations or beliefs of NetWorth Systems, Inc. management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: adverse weather conditions, historical seasonality, loss of customers, increased competition and other risks detailed from time to time in filings with the Securities and Exchange Commission. Consequently, if such management assumptions prove to be incorrect or such risks or uncertainties materialize, the Company's actual results could differ materially from the results forecast in the forward-looking statements.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Dec 9, 2004
Words:661
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