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California News Tech's PublicMemory.com Announces Beta Test Agreement with HedgeStreet, Inc.

California News Tech (OTCBB: CNTE), a leading technology company, reported today that it has signed a beta test licensing agreement with HedgeStreet®, the first Internet-based, government regulated, market which enables event derivative trading. PublicMemory.com's unique technology will make possible issue oriented research in a timely manner for markets raging from commodities and currencies to economic indicators, employment, fuel, housing prices, inflation, interest and mortgage rates.

"We are starting a very promising business relationship between two companies that have both brought cutting-edge technologies to the market place." commented Mr. Marian Munz, President and CEO of California News Tech.

HedgeStreet, based in San Mateo, CA, offers binary options and futures contracts on a variety of financial and event-based markets, including innovative contracts based on such events as hurricanes. HedgeStreet's products are designed to appeal to traders interested in hedging or speculating in these markets in smaller increments than on traditional futures and options exchanges.

While still in beta, Public Memory is already changing the way people do information research, by enabling automated issue-specific research online. The Pew Internet & American Life Project found in a 2006 survey that fully 73% of respondents, about 147 million adults, are Internet users, and that number is growing daily. As a result, users rely more and more on finding critical information online. Specifically, Pew found that in 2005, 41% of Americans, 55 million people, used the Internet to make important investment or financial decisions. Of those respondents, 16 million said that the Internet was crucial or important in their decision making process.

If you would like to be added to California News Tech's investor email list please contact Zack Noory with Nexus Investor Relations at znoory@nexusir.com.

About California News Tech

California News Tech's MediaSentiment™ offers a range of services, available at www.mediasentiment.com, which focus on helping online investors make faster and better investment decisions. Serving traders who are interested in fast, reliable investment tools, MediaSentiment™ offers timely and accurate information to help take advantage of market opportunities. MediaSentiment™ consists of a number of indices that measure NYSE and Nasdaq companies' earnings reports and news media coverage as positive, negative or neutral. In particular, MediaSentiment Heads Up™ creates thumbs up / thumbs down recommendations for stocks almost instantly based on the sentiment behind their earnings reports. MediaSentiment's exclusive technology provides users with up-to-the-minute information, vital to investing, and provides a significant edge on other investors on predicting market movements. The speed and comprehensiveness of MediaSentiment Heads Up™ recommendations often best leading financial news sources, giving MediaSentiment™ subscribers a competitive edge up on other traders and allowing them more profitable trading opportunities. For additional information on California News Tech, please visit www.mediasentiment.com.

About HedgeStreet

The CFTC - the regulating body of the derivatives industry - designated HedgeStreet®, a venture-backed startup based in San Mateo, California, as a contract market and registered derivatives clearing organization as of February 2004. This is the first time the CFTC has granted such a designation to a firm offering non-intermediated retail derivative contracts outside the traditional structure of existing futures and options markets.
HedgeStreet® aims to bring this new, far broader financial world to the masses by creating retail derivatives that average investors will use to alleviate risks related to their own financial uncertainties.
www.hedgestreet.com.