ESTec announces a shares for debt settlement approved

ESTec Systems Corp. is announcing it has received Exchange approval in the shares for debt settlement announced August 26, 2003.

The Agreement Day of the settlement is August 26, 2003. The price per share has been settled at $.12, which is not less than the Discounted Market Price.

The Company will be issuing a total of 4,935,491 shares for a total debt settlement of $592,257.34

On behalf of the Company,

Anthony B. Nelson
President