FOR IMMEDIATE RELEASE





NewWave Consulting Group, Inc. announces the development of TimeReporting.comSM 2005

January 18, 2006 -- Rochester, N.Y. NewWave Consulting Group, Inc. announces the development of two new versions of TimeReporting.com: a .Net version, which fully supports the Microsoft Windows 2003 operating systems, and a self-contained Windows.net network based version, specifically designed for smaller organizations that do not want to incur the Microsoft SQL and Seagate Software licenses expenses associated with the client/server version.

Mr. Claudio Girolami, NewWave Engineering Vice-President, indicated that, NewWave is already working on both versions of TimeReporting.comSM, which are scheduled to be released during the 1st quarter this year. "We are very excited about the Windows.net version of TimeReporting.com. By adding the support for an MS-Access database, the new version of Timereporting.com will allow organizations with up to 200 employees to save thousands of dollars in MS-SQL server and client licensing alone. Furthermore, by using our new .net framework reporting engine, we will be able to eliminate the need of Seagate Crystal Report Web server component, which costs several thousand dollars per CPU. For example: a 30 users company that wants to buy our product today, would pay $2,500 for TimeReporting.com and approximately $15,000 in Microsoft and Business Objects licensing fees. With the new .NET version, the same company will only pay the initial $2,500 for TimeReporting.com."

About NewWave Consulting Group: Based in Rochester, New York, NewWave Consulting Group is a leading local consultant and solutions provider specializing in the development/deployment of business-driven Internet/Intranet applications, corporate WEB site localization /globalization and legacy system interfaces and conversion. Over the last 15 years, NewWave has successfully implemented a large number of solutions across a wide variety of industries. Their understanding of systems development and leading edge technologies coupled with their commercial expertise enables them to take an innovative, efficient, business-oriented approach in solving customer problems.