ESTec announces a shares for debt settlement

ESTec Systems Corp. is announcing it has made a shares for debt settlement. The Agreement Day of the settlement is August 26, 2003.

Shares will be issued to the creditors after acceptance is received from the Exchange. The price per share has been settled at $.10, which is not less than the Discounted Market Price.

The Company will be issuing a total of 5,922,583 shares for a total debt settlement of $592,257.34

On behalf of the Company,

Anthony B. Nelson
President