SOURCE: International Consolidated Companies, Inc.

January 21, 2010 21:13 ET

INCC Rescinds Acquisition of Millennium Teleservices Operations

SARASOTA, FL--(Marketwire - January 21, 2010) - International Consolidated Companies, Inc. (OTCBB: INCC) today announced that the company has rescinded its previously announced acquisition of the operations of Millennium Teleservices, LLC due to unforeseen liabilities tied to Millennium's operations.

"While acquiring Millennium's operations appeared to make sense in that it added immediate top line revenue, additional liabilities that came to light only after we became involved with Millennium's operations would have made it difficult, if not impossible, to operate the new facilities at a profit," stated Daniel Swinehart, recently appointed INCC Vice President of Acquisitions & Integration.

"INCC is committed to growing through internal growth and acquisitions and will continue to focus on this strategy," stated Antonio F. Uccello, III, President and CEO of International Consolidated Companies, Inc.

About International Consolidated Companies, Inc.

International Consolidated Companies, Inc. (www.INCC.us) is a publicly traded company listed under the symbol 'INCC.' INCC's focus is on acquiring and operating businesses that enhance and expand their Business Process Services (BPS) offerings. 121 Direct Response (www.121directresponse.com) is a wholly-owned subsidiary of INCC offering full-service direct response consulting, idea development, and campaign execution organization. With over 600 employees and outbound and inbound contact center stations; a full-service direct mail design, printing, fulfillment, and mailing facility; and direct response expertise in nonprofit and commercial direct marketing, 121 can provide its clients with turnkey direct response service excellence.

Relevant sites: www.121directresponse.com, www.incc.us

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press relesae are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions. Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by International Consolidated Companies, Inc., (the "company"), as well as those contained herein, that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are statements regarding the intent, belief, or current expectations, estimates, or projections of the company, its directors, or its officers about the company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include, without limitation, statements regarding: (a) the company's strategies regarding growth and business expansion, including future acquisitions; (b) the company's financing plans; (c) trends affecting the company's financial condition or results of operations; (d) the company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the company's ability to respond to changes in customer demand and regulations. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements. The company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.

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