Energy & Technology Corp. Initiates Agreement With Leading Chinese Oil & Gas Equipment Manufacturer

LAFAYETTE, LA, May 27 (MARKET WIRE) --
Energy & Technology Corp. ("Energy & Technology" or the "Company")
(OTCBB: ENGT), previously known as Technical Industries & Energy Corp.
and a provider of equipment and services for the oil and gas industry,
announced today that it has signed a Memorandum of Understanding ("MOU")
with a leading Chinese oil and gas equipment manufacturer. The MOU
initiates an agreement to manufacture, repair, thread and inspect oil
country tubular goods ("OCTG") in the U.S.

"While still in the preliminary stages, this MOU represents an important
step toward creating a strategic international partnership with one of
China's largest oil and gas equipment manufacturers," stated Energy &
Technology President and CEO George M. Sfeir. "We look forward to updating
the investing community."

To be added to the Energy & Technology investor email list, please email
justin.davis@cirrusfc.com with ENGT in the subject line.

About Energy & Technology Corp.

As the holding company for Technical Industries, Inc. Energy Pipe, LLC and
Highland Energy Threading, Energy & Technology Corp. (OTCBB: ENGT) is a
single source for rig, integrated systems, downhole tools, OCTG tubing and
casing, linepipe, drillpipe, drilling tools and supply chain solutions.
Energy & Technology provides a comprehensive drilling system for parts,
downhole tools, non-destructive testing, storage and other products and
services. To learn more about Energy & Technology, visit: www.engt.com.

Company information distributed through the Market Access Program is based
upon information that Standard & Poor's considers to be reliable, but
neither Standard & Poor's nor its affiliates warrant its completeness or
accuracy, and it should not be relied upon as such. This material is not
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security or other financial instrument.

SAFE HARBOR STATEMENT

Matters discussed in this press release contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. When used in this press release, the words "anticipate," "believe,"
"estimate," "may," "intend," "expect" and similar expressions identify
such forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated, expressed
or implied by the forward-looking statements contained herein. These
forward-looking statements are based largely on the expectations of the
Company and are subject to a number of risks and uncertainties. These
include, but are not limited to, risks and uncertainties associated with:
the impact of economic, competitive and other factors affecting the
Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies resulting
from terrorist actions, and U.S. actions subsequently; and other factors
available from the Company. We assume no obligation to publicly update or
revise these forward-looking statements for any reason, or to update the
reasons actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes
available in the future.

CONTACT:

Cirrus Financial Communications, LLC
Justin K. Davis
(877) 420-ENGT (3648)
Email Contact
www.cirrusfc.com

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