Progress Watch Corporation (PROW); Launch of the Revolutionary See-Through Triple Axes Rotary Tourbillon (START) in 2007

Progress Watch Corp. (Pink Sheets:PROW) announces that production
of an initial collection of its exclusive "Triple Axes Tourbillon
Movement" has started and that the product will be launched this year.

Furthermore, one of the oldest watch brands in Switzerland intends
to acquire a substantial part of the production to introduce this
unique and individualized Tourbillon as the masterpiece of its new
exclusive collection.

Progress Watch Corp. has conceived the Tourbillon's basic
construction to be built in both, round and rectangular shape in order
to allow a higher degree of individualization and therefore an
extended customer base.

A European investment group has already financed the latest
developments of Progress regarding modules and movements. They already
have a substantial share position in Progress Watch and through
further acquisitions is set to become one of the major shareholders in
the company within the coming months.

Progress Watch Corporation (Pink Sheets:PROW) -
www.progresswatch.eu, is a company dedicated to independently provide
high end, innovative, reliable, stable, flexible and unique mechanical
watch movements to the watch industry.

This release contains certain forward-looking statements which
involve known and unknown risks, uncertainties and other factors not
under the Company's control which may cause actual results,
performance, achievements of the Company to be materially different
from the results, performance of expectations implied by these
forward-looking statements. These factors include, but are not limited
to, the limited liquidity and the limited operating history of the
Company.