AFS Technologies Releases Complete Accounting and Financial Application Continuing its Modular AFS ERP.NET Roll-out

Accounts Receivable, Accounts Payable, Cash Flow Forecasting and Bank Reconciliation Functionality Added to Previously Released General Ledger and Financial Reporting Module

PHOENIX – April 12, 2007 – AFS Technologies, Inc., (“AFS”), the leading provider of fully integrated software solutions to the food and beverage industry, today announced the immediate availability of AFS ADVANCED FINANCIALS, a complete accounting and financial reporting application. The application is part of AFS ERP.NET built on the Microsoft .NET Framework 2.0 utilizing a Service Oriented Architecture (SOA) based on Web Services. AFS ADVANCED FINANCIALS offers a cost-effective upgrade for current AFS customers and a potential replacement for non-AFS financial systems.

“The theme of our annual customer conference beginning this weekend is Delivering the Vision and this advanced financial application delivers on the vision of a module by module upgrade path that is fully backwards compatible with the legacy ERP systems our customers use daily,” said Kurien Jacob, Chief Executive Officer of AFS Technologies. “AFS ADVANCED FINANCIALS demonstrates our commitment to offering our customers superior functionality using the latest technology, deployable on a customer-determined migration schedule,” he added.

Enhanced functionality includes:

General Ledger with multi-division, location, warehouse, language and currency set-up

Flexible Financial Statement Formatting and Reporting

Accounts Receivable with customer credit, collections and cash application features

Accounts Payable with 3-way matching

Automated cash flow forecasting

System directed bank reconciliation.

About AFS Technologies, Inc.

AFS Technologies, Inc. is the leading provider of fully-integrated, end-to-end business software solutions engineered exclusively for the food and beverage industries. The company serves hundreds of customers across North America and the Caribbean with innovative, comprehensive and user-friendly solutions designed to reduce costs, increase efficiency, streamline internal processes and assist in regulatory compliances. Solutions available include complete distribution and financials, vendor rebate tracking, warehouse management, web order management, supply chain management, eCommerce, business intelligence, processing, and mobile sales & delivery products. For more information, please contact AFS Technologies, Inc. via email at info@afsi.com, by phone at (602) 522-8282 or visit us on the web at www.afsi.com

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