SOURCE: International Consolidated Companies, Inc.

January 16, 2008 16:03 ET

International Consolidated Companies, Inc. Acquires China Gene, Ltd.

SARASOTA, FL--(Marketwire - January 16, 2008) - International Consolidated Companies, Inc. (OTCBB: INCC) announced today that it has finalized the Definitive Acquisition Agreement to acquire 100% of China Gene, Ltd. (Hong Kong). International Consolidated Companies, Inc. welcomes the opportunity to work with China Gene, Ltd. and embraces the chance to aid in the capital growth of this exciting Company.

International Consolidated Companies, Inc. will realize the future revenues and current assets associated with the acquisition without additional management expenses or costs. As of June 30, 2007 China Gene, Ltd. had consolidated total assets of $13.1 million, consolidated total sales of $3.1 million, consolidated total liabilities of $7.2 million, consolidated gross profit of $1.7 million and consolidated net income of $800,000 as reported by the Company's auditors, Bagell, Josephs, Levine & Company, LLC.

Antonio F. Uccello, III, Chairman and CEO, stated, "We are very excited about our first acquisition. Our acquisition team will continue to search for solid, asset-based companies that meet or exceed the criteria set forth in our acquisition model. We are looking forward to an exciting 2008 with many more acquisitions already in the pipeline."

About International Consolidated Companies, Inc.:

International Consolidated Companies, Inc. specializes in acquiring international businesses located in the expanding Asian markets focusing on three dynamic areas: healthcare, technology and environment. Utilizing a unique acquisition model International Consolidated Companies, Inc. provides foreign companies an opportunity to gain access to U.S. & London capital markets. International Consolidated Companies, Inc. acquires diversified, growth oriented companies that should enjoy a steady, long-term increase. Each target company reviewed for acquisition must meet specific criteria detailed in International Consolidated Companies, Inc.'s acquisition model and has proven commercial track records. Management is confident that it should deliver consistent, continued growth and be successful in increasing shareholder value through accurate and meticulous due diligence.

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, including those in Management's Discussion and Analysis, 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.

Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix, and the geographic mix of sales.

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.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement 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.

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