SOURCE: One World Ventures, Inc.

One World Ventures, Inc.

April 29, 2010 09:29 ET

One World Ventures, Inc. Announces Success as 1World Cash Sets a Course to Grow and Expand

LAS VEGAS, NV--(Marketwire - April 29, 2010) - One World Ventures, Inc.'s (PINKSHEETS: OWVI) 1World Cash, its new money transfer service and a provider of prepaid cards, announced that in a period of less than 30 days since its opening has signed and registered over 500 customers to the 1World Cash Card program. The remittance locations in the Philippines have been extended to an additional 1,300 cash out locations. The Company has agreed to its first 1World Cash Agent (set to open next week) and is considering a second location in World Wide House in Hong Kong in the month of May.

The 1World Cash Card is a cost effective remittance system that provides a new channel for sending and receiving money for the underbanked and underserved. Money is remitted from 1World Cash agents to a prepaid card in the receiving country. The card can currently be used at over 570 ATMs and the Company anticipates that it will be accepted at over 6,000 locations in the Philippines by the end of May. "The registration of customers to the 1World Cash Card is the key to our success," said Stephen Prior, CEO, One World Ventures. "This enables 1World Cash to compete at a level and a cost structure that will give the Company a competitive edge."

After the immediate success of our launch in Hong Kong and the implementation of our methodology, it's evident that the Company needs to embark on rapid expansion to take advantage of the opportunity in hand. Our current goal is to have 10 locations and agents in Hong Kong, opening 1World Cash Locations in Macao and Singapore and expand our program to include Indonesia before the end of 2010. The Company wants to make sure it has built out the major remitting countries in Asia before expanding the business to Europe and USA in 2011.

On November 16, 2009, OWVI issued a moratorium not to increase the authorized shares, outstanding shares, and float for a period of at least six months. At that time, the Company had adequate financing to offer our shareholders a confidence that there would be a period of non-dilution. The Company followed the moratorium which is now set to expire. 

We at OWVI are committed to becoming a more transparent reporting Company, to building shareholder value and create shareholder wealth. In order to do that, it is imperative that we take advantage of the opportunities our hard work has created over the last year and grow the business and add to enterprise and shareholder value. The company has no debt; we are outlining our strategy that will increase the share capital of the Company but at the same time be accretive to the Company, allow investor confidence to grow and we believe further enhance shareholder value.

One World Ventures is currently in negotiations with several institutional investors to acquire a block of shares of the Company. The terms and timing are not yet finalized, but the Company will receive funds that are necessary for meeting our goals for growth. 

Safe Harbor Statement:
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. One World Ventures, Inc. undertakes no obligation to update any such statements to reflect actual events.

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