<Page>

EXHIBIT 99.1

FOR IMMEDIATE RELEASE                   CONTACTS:       MICHAEL L. SHERIFF
- ---------------------                                   CHIEF EXECUTIVE OFFICER
                                                        X-CHANGE CORPORATION
                                                        (972) 747-0051

                                                        RICK EISENBERG
                                                        EISENBERG COMMUNICATIONS
                                                        (212) 496-6828

                         X-CHANGE CORPORATION FILES 10Q

DALLAS, MAY 15, 2007 - THE X-CHANGE CORPORATION (OTCBB: XCHC) announced today
reported financial results for the first quarter ended March 31, 2007.

Total revenues increased 3% to $316,053 for the first quarter of 2007 from
$308,223 for the first quarter of 2006. For the first quarter of 2007, net loss
was $734,734 or $0.03 per common share as compared with net loss of $209,508, or
$0.01 per common share, for the first quarter of 2006.

The increased net loss was attributable, in part, to added expenses incurred by
the Company's wholly owned subsidiary, AirGATE Technologies, relating to
AirGATE's contribution to project development costs for its clients. These
projects include a revolutionary new tool for oil exploration under development
for Hexion Specialty Chemicals, Inc., surface acoustic wave (SAW) tag
development for tagging drill pipe and oil field equipment, and development of
AirGATE's proprietary readers for its product authentication system,
GenuDot(TM). These projects are expected to begin producing high-margin,
recurring revenue in the second half of 2007 and beyond.

"During the first quarter, we increased research and development expenses on our
existing customer projects to expedite the commercialization of these projects
for 2007 and 2008. According to our business plan, we expected revenues in the
first quarter of 2007 to be weaker due to a decrease in development revenue as
customer projects approach commercial deployment. We expect subsequent quarters
in 2007 to be sequential growth quarters due to new revenue generating contracts
from the oil and gas industry and from our on-going implementation of existing
customers' projects," states Michael Sheriff, X-Change president and CEO. "The
Company continues to prepare for growth in the manufacturing and
commercialization of its products for distribution in 2007. The Company is
building to achieve profitability, generate cash flow and capitalize on its
success in wireless and RFID applications in the oil and gas,
telecommunications, pharmaceutical and consumer products industry."

First Quarter Financial Results

The 3% increase in revenue is principally due to the continued development
effort with the existing customer base. The Company expects revenues to increase
significantly in the second half of 2007 as a result of additional development
contract-related revenue, pilot project revenue from new customers,
transactional based revenue from new agreements, and recurring revenue from
royalties and other agreements.



<Page>

Research and development cost grew from $189,838, or 62% of revenues, in the
first quarter of 2006 to $253,497, or 80% of revenues in the same comparable
period of 2007 in support of the ramp up to development completion of the first
Hexion tool. The Company expects our cost of operations to grow significantly,
consistent with our expected increased revenue in 2007 on the way to additional
contract development. The Company expects recurring revenue streams to increase
and expects this increased revenue to allow our margins to increase as well.

Sales and marketing expenses grew from $36,119, or 12% of revenues, in the first
quarter of 2006 compared to $63,405, or 20% of revenue, in the first quarter of
2007. The increase was largely a result of additional sales efforts, additional
advertising, trade shows, and other marketing related activities to capture
additional revenue in 2007. The Company expects to continue sales and marketing
efforts consistent with achieving substantial increases in revenue in 2007.

General and administrative expenses increased from $287,541, or 93% of revenues,
in the first quarter of 2006 to $617,034, or 195% of revenues, in the same
comparable period of 2007. The Company's salary expenses increased from
$176,083, or 57% of revenues, in the first quarter of 2006 to $316,007, or 100%
of revenues, in the first quarter of 2007. The increase is primarily due to the
increase in personnel for sales and executive management in accordance with the
Company's emphasis on increasing levels of revenue and working capital in 2007.
This was below our first quarter 2007 expectation due to some shift in revenue
and funding to later in the year. The Company expects salaries to decrease
relative to revenue in the latter part of 2007.

The Company's payroll tax expenses increased from $17,732, or 6% of revenues, in
the first quarter of 2006 to $108,378, or 34% of revenues, in the first quarter
of 2007. The increase is consistent with the increase in salaries expenses for
the increase in personnel for sales and executive management. The Company
expects payroll taxes to decrease relative to revenue in the latter part of
2007.

There was an increase in professional fees from $16,642, or 5% of revenues, in
the first quarter of 2006 to $79,036, or 25% of revenues, in the same comparable
period of 2007. This is due to the increased legal and financing activities of
the fund raising effort. The Company expects professional fees to increase
during the second and third quarter as a result of the cost of registration
related to fund raising and an increase in the effort related to Sarbanes-Oxley
compliance.

First quarter 2007 insurance expense increased $31,678 over the prior first
quarter due to the purchase of the Company's initial Directors and Officer's
Insurance Policy. The insurance coverage was imperative to attract and retain
talented and experienced directors and executive officers. The Company's
interest expense totaled $117,828 for the three month period ending March 31,
2007 compared to $4,262 for the similar period in 2006, an increase in $113,566.
The increase is due to increased borrowing under a related party.



<Page>

The Company expects trends in losses to reverse for the remainder of 2007 as
revenues materially increase and expenses stay consistent with revenue growth.
In order to take advantage of the growth opportunities for 2007, near term
financing will give the Company additional operating flexibility and the ability
to achieve its expected business plan objectives.

For more information on X-Change Corporation's first quarter, please refer to
the filing of the c Company's Form 10Q. The filing can be viewed at the SEC's
website: HTTP://WWW.SEC.GOV.

ABOUT X-CHANGE CORPORATION
X-Change Corporation, through its wholly-owned subsidiary, AirGATE Technologies,
Inc. is a leader in unique, vertical market applications utilizing RFID and
wireless, intelligent sensor technology. AirGATE Technologies, a full-solution
company, handles business assessment, technology selection, including
proprietary AirGATE technology, integration and support. The Company has, in an
environment of technology cost compression, built a stable of technology
partners that are best in class and span a wide range of solutions to support
small, medium and large enterprises. Please visit WWW.AIRGATETECH.COM or
WWW.X-CHANGECORP.COM for further information.

FORWARD-LOOKING STATEMENTS
Except for historical information contained herein, the statements made in this
release constitute forward-looking statements (including within the meaning of
Section 27A of the United States Securities Act of 1933 and Section 21E of the
United States Securities Exchange Act of 1934). Such forward-looking statements
are based on current expectations that are subject to significant risks,
including our need to raise capital, our dependence on strategic relationships
with key suppliers and customers, our business model's dependence on widespread
acceptance of RFID technology, our ability to develop recurring revenue streams
and the competitiveness of the market in which we compete. These forward looking
statements include statements regarding the intent, belief or current
expectations of the X-Change Corporation, AirGATE Technologies and their
respective managements regarding strategic directions, prospects, future events
and future results such as our ability to raise the full $6 million dollars to
complete our private placement in one or more additional closings. Readers are
cautioned that these forward-looking statements are only predictions and may
differ materially from actual future events or results. Readers are referred to
the documents filed by the X-Change Corporation, which are on file with the U.S.
Securities and Exchange Commission and may be accessed at http://www.sec.gov or
the X-Change Corporation's investor relations web page at
http://www.x-changecorp.com/index.html, and specifically the most recent reports
on Form 10-KSB and 10-QSB, each as it may be amended from time to time. The
X-Change Corporation disclaims any obligation to update or correct any
forward-looking statements made herein.