Southborrough Ventures, Inc. Acquires AmeriChip Ventures, Inc. and New Board Appointed

    DETROIT--May 6, 2003--The Board of Directors of Southborrough Ventures, Inc., (OTCBB:SBBV) (the "Company") is pleased to report that on March 22, 2003 the parties closed and consummated the terms of the Agreement and Plan of Reorganization dated February 27, 2003 (the "Reorganization Agreement") pursuant to which the Company, AmeriChip Ventures, Inc. ("AVI") and the AVI Shareholders agreed to effect a Type B reorganization under Section 368(a)(1)(B) of the Internal Revenue Code of 1986, as amended. Pursuant to the Reorganization Agreement, the Company acquired all of the issued and outstanding shares of AVI's common stock with the result that AmeriChip Ventures, Inc. is now a wholly-owned subsidiary of the Company. In exchange, the Company issued 60 million shares of the Company's common stock to the three AVI shareholders who now have control of the Company with the ownership of approximately 75% of the Company's issued and outstanding common stock.
    In accordance with the terms of the Reorganization Agreement, the Board of Directors, comprised of Mr. John Taylor, Mr. C. Sampson and Ms. R. Windsor resigned and have been replaced by Messrs. David Howard, Marc Walther and E. Rutkowski, being the officers, directors and shareholders of AVI. Notification of this change in the composition of the Board of Directors was provided in an information statement that was delivered to shareholders of record as of March 12, 2003.
    AmeriChip Ventures, Inc. is licensed by AmeriChip, Inc., (www.americhipmfg.com) to implement their patented Laser Assisted Chip Control process. This patented laser process is designed to eliminate the "chip-control" problem inherent when steel parts such as axles, drive shafts and hubs are machined to required specifications. AmeriChip has been granted concept approval by a large Tier One automaker and, having satisfactorily conducted a three stage trial process to verify the measurement of cost savings, is in "implement ready stage" to supply major auto manufacturers. No orders have yet been received and substantial expenditures must be incurred in establishing its plant and purchasing the necessary laser and related equipment. The Company must raise substantial funds before the patented laser process can be used or revenues generated.
    Southborrough Ventures, Inc. trades on the OTC:BB (SBBV). For more information, contact The ALPS GROUP INC. at 1-604-460-8685.
    This release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted. Important factors which could cause actual results to differ materially from those expected or implied in the forward-looking statements are detailed in filings with the Securities and Exchange Commission made from time to time by Southborrough Ventures, Inc. including its periodic reports on Forms 10-K, 10-Q, and 8-K. Southborrough Ventures, Inc. undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof.