PlanGraphics secures new borrowing arrangement

FRANKFORT, Ky., January 11, 2005—PlanGraphics, Inc. (Pink Sheets: PGRA) reached an agreement with K Capital Partners, Inc. for accounts receivable financing. The 12-month financing agreement with K Capital Partners, Inc. (“KCap”) was finalized on January 7, 2005.

Under the arrangement, which replaces the $750,000 asset-based line of credit with Branch Banking & Trust, KCap will purchase up to $1.5 million of accounts receivable invoices for which it will initially pay PlanGraphics 80% of the face value. Upon collection of the invoices KCap will remit the remaining 20% of each invoice, less varying levels of discount dependent upon the age of the receivables at the time of collection.

John Antenucci, CEO and President, noted that “the arrangement with K Capital is an important and timely development as the company’s business activity is increasing and the financing vehicle provides both greater flexibility and effectively doubles the company’s line of credit.“

PlanGraphics, founded in 1979, is a full life-cycle systems integration and implementation firm providing a broad range of services in the design and implementation of information technology in the public and commercial sectors. PlanGraphics’ experience with spatial information systems and e-services capabilities provides a critical discriminator among other IT consulting and integration firms. PlanGraphics has headquarters in Frankfort, Ky., and regional offices in Maryland, Colorado and New York. On the Web: www.plangraphics.com. PlanGraphics has recently announced its intent to merge with ICEWeb (OTC:ICEW - News), a leading provider of integrated enterprise networking and security solutions, content delivery software, and related professional consulting services.

####

Copyright 2005 PlanGraphics, Inc.