SOURCE: International Smart Sourcing, Inc.

January 25, 2008 16:31 ET

International Smart Sourcing, Inc. and Real Property Technologies, LLC. Agree to Terminate Letter of Intent

FARMINGDALE, NY--(Marketwire - January 25, 2008) - International Smart Sourcing, Inc. (OTCBB: ISSG) and Real Property Technologies, LLC. (RPT) have mutually agreed to terminate the letter of intent dated July 12th, 2007 concerning the proposed purchase of RPT by ISSI.

David Hale, President and Acting Chief Financial Officer of the Company, said, "After careful consideration, we have decided not to proceed with the transaction to acquire Real Property Technologies at the present time. Given the current instability in the real estate market and overall weakening in this sector, we believe that this is the best alternative for the Company and its shareholders."

Mr. Hale further said, "The Board of Directors is continuing to explore other alternatives and feels that the present economic environment will assist us in finding the right opportunity."

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any such statements are subject to risks and uncertainties, which could cause actual results to vary materially from those indicated. Actual results could differ due to a number of factors, including negative developments relating to unforeseen order cancellations or push outs, the company's strategic relationships, the impact of intense competition and changes in our industry.

Contact Information

  • Company Contact:
    David Hale
    Chairman of the Board of Directors,
    President, and Acting Chief Financial Officer
    Phone: (631) 293-4796