X-Change Corporation Forms Subsidiary Targeting RFID in the Oil & Gas Industry

Seeks Possible Acquisition Candidates to Support Energy Technology Initiative

Jun 18, 2004, 01:00 ET from X-Change Corporation

    DALLAS, June 18 /PRNewswire-FirstCall/ -- The X-Change Corporation
 (OTC Bulletin Board:   XCHC) today announced that it has formed a new subsidiary
 that will focus on growing radio frequency identification (RFID) opportunities
 in the oil and gas industry, primarily in exploration, drilling and
     To support this effort, the company will be seeking technology and
 possible acquisition candidates to supplement the RFID technologies and
 applications that are being developed and pilot tested by its AirGATE
 Technologies subsidiary.  While AirGATE Technologies is primarily focused on
 developing RFID applications that serve the global supply chain, driven
 primarily by mandates from Wal-Mart and the Department of Defense, including
 initiatives from epcGlobal, the standards body serving the RFID industry, the
 new subsidiary will focus exclusively on the oil and gas industry.
     "We have noticed unique RFID applications beginning to emerge in the
 petroleum industry, outside of the obvious asset tracking," stated Michael
 Sheriff, CEO of the X-Change Corporation.  "For example, down-hole pressure
 and temperature recording, device triggering and instrument monitoring are
 areas of exploration and production that call for remote data transmissions
 that could be delivered by a specialized RFID application.  The oil industry
 has always been a private club, and its technology is very specialized.  We
 felt it best to establish a separate organization to target the needs of oil
 and gas producers."
     About AirGATE Technologies
     AirGATE Technologies is a development stage company specializing in
 wireless data management technologies.  The company designs and develops
 applications utilized in RFID deployments.  AirGATE will deliver RFID
 solutions in selected vertical markets built around a data management and
 integration strategy based on its Matrix Analytic Engine.  This strategy is
 designed to ensure rapid market penetration and maximum return on investment.
 Please visit www.AirGATEtech.com for more information.
     About the X-Change Corporation
     The X-Change Corporation is a company that was organized to seek merger or
 acquisition candidates.  The Company intends to acquire interests in emerging
 technology opportunities, such as RFID, that the Company believes will
 generate significant revenues and return a profit to shareholders.  AirGATE
 Technologies is a wholly owned subsidiary of the X-Change Corporation.  Please
 visit www.x-changecorp.com for further information.
     Forward-Looking Statements
     Except for historical information contained herein, the statements made in
 this release constitute forward-looking statements (including within the
 meaning of Section 27A of the United States Securities Act of 1933 and Section
 21E of the United States Securities Exchange Act of 1934). Such forward-
 looking statements are based on current expectations that are subject to
 significant risks and uncertainties that are difficult to predict, including
 statements regarding the intent, belief or current expectations of the
 X-Change Corporation, AirGATE Technologies and their respective managements
 regarding strategic directions, prospects and future results.  These
 forward-looking statements include, among other things, statements regarding
 future events and the future financial performance of the X-Change Corporation
 that involve risks and uncertainties.  Readers are cautioned that these
 forward-looking statements are only predictions and may differ materially from
 actual future events or results.  Readers are referred to the documents filed
 by the X-Change Corporation, which are on file with the U.S. Securities and
 Exchange Commission and may be accessed at http://www.sec.gov or the X-Change
 Corporation's investor relations web page at
 http://www.x-changecorp.com/index.html, and specifically the most recent
 reports on Form 10-K and 10-Q, each as it may be amended from time to time,
 which identify important risk factors that could cause actual results to
 differ from those contained in the forward-looking statements.  The X-Change
 Corporation disclaims any obligation to update or correct any forward-looking
 statements made herein due to the occurrence of events after the issuance of
 this press release.
     For further information please contact Bevo Beaven, Vice President,
 bevo@ctapr.com, or Carl Thompson, Principal, carl@ctapr.com, both of CTA
 Public Relations, +1-303-665-4200, for X-Change Corporation.

SOURCE X-Change Corporation