updated 5/23/2011 4:47:50 PM ET 2011-05-23T20:47:50

KIRKLAND, Wash., May 23, 2011 (GLOBE NEWSWIRE) -- CoroWare, Inc. (OTCBB:COWI) wishes to inform its investors that, due to unanticipated delays in the preparation of the company's financial statements, the company was not able to timely file its quarterly report on Form 10-Q for the period ended March 31, 2011.

The company is working with its auditors and advisors to complete the financial statements and anticipates that its report on Form 10-Q will be filed within seven business days.

About CoroWare

Headquartered in Kirkland, Washington, CoroWare is a solutions integrator with expertise in affordable telepresence, service oriented business applications, and mobile robotics. CoroWare delivers products, solutions and services to customers worldwide in Europe, Asia, and North America. For more information on CoroWare's products and services, please visit www.coroware.com .

The names of actual companies and products mentioned herein may be the trademarks of their respective owners. This press release is written using forward-looking statements pursuant to the Private Securities Litigation Reform Act of 1995: http://www.sec.gov/about/laws/sea34.pdf (Sec. 21E p. 223). Coroware undertakes no duty to update these forward-looking statements.

CONTACT: Investor Relations Contact:
         Lloyd Spencer
         CoroWare
         investor@coroware.com
         (800) 641-2676, option 3

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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