Southborrough Ventures, Inc. Re-Structures Purchase of American Production Machining, LLC

    DETROIT--July 1, 2003--The Board of Directors of Southborrough Ventures, Inc., (OTCBB:SBBV) (the "Company") is pleased to report it has replaced the original Letter of Intent signed on April 22, 2003 to acquire American Production Machining ("APM"), of Detroit, MI with a more advantageous proposal for the purchase of APM through its' corporate bank, Comerica Bank. Under the new proposal, Southborrough will acquire all of the assets of APM for a total of $4.2 million under a bulk asset sale, with no outstanding trade payables or liabilities, for $2 million cash and a loan from Comerica for $2.2 million. Current assets of APM are listed as $4.5 million in machinery, $1.6 million in blue chip receivables and $500,000 in inventory. The closing date is July 31, 2003.
    As a result of the backlog of work created by one of the major automakers in the Detroit corridor, APM will not be closing for the traditional two-week industry summer shutdown. American Production Machining (www.apm-machining.com) is a manufacturer of high quality production machining parts with a client base that includes the Ford Motor Company, Meritor, General Motors, Visteon, and American Axle.
    As previously reported, the Company received a request from a major automotive manufacturer to provide a firm quotation on machining 3.5 million connecting rods per annum. The Company submitted their initial quotation ahead of the June 30, 2003 deadline and is now preparing a formal quotation and has been informed that they will be in receipt of a purchase order by the 3rd week of July 2003.
    It is contemplated that current and future orders secured by APM will be processed utilizing the patented AmeriChip LACC process which is licensed to AmeriChip Ventures, Inc. ("AVI"), the Company's wholly owned subsidiary. This patented laser process is designed to eliminate the "chip-control" problem inherent when steel parts such as axle and drive shafts, connecting rods, axle tubes and hubs are machined to required specifications.
    Southborrough Ventures, Inc. trades on the OTC: BB (SBBV). For more information, visit our website at www.southborrough.com or contact Rhonda Windsor of The ALPS GROUP INC. at 1-905-898-2646 or via email at southborrough@hotmail.com

    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.