SOURCE: Perfect Web Technologies, Inc.

August 05, 2008 07:00 ET

Perfect Web Technologies, Inc. Spins-Off Subsidiary

BOCA RATON, FL--(Marketwire - August 5, 2008) - Perfect Web Technologies, Inc. (PINKSHEETS: PWBI) announced today that it has spun-off Willing Holding, Inc. to its shareholders.

The Company's wholly owned subsidiary Willing Holding, Inc. has been spun off to its shareholders of record as of July 31, 2008. The stock distribution ratio is 1 share of Willing for 74.8 shares of the Class A Common Stock of PWBI.

The Company through its transfer agent is distributing an Information Statement to its shareholders of record as of July 31, 2008.

About Perfect Web Technologies, Inc.

Perfect Web Technologies, Inc. is a holding company for a series of integrated technologies that optimize the use of the Internet. It is a provider of web based applications and B2B2C marketing solutions designed for marketers, built through technology development and acquisitions. The Company intends to license its portfolio of six patents and patents pending that represent key Internet and software technologies and business methods. The patents cover electronic document publishing, e-mail management and distribution, e-commerce and marketing tools, access management to electronic documents and electronic document collaboration. For more corporate information visit www.perfectwebtech.com.

About Willing Holding, Inc.

Willing Holding, Inc. ("Willing") is currently engaged in the telemarketing of residential and commercial mortgages and related products. Willing intends to re-direct its efforts in the telecommunications industry that it anticipates will include service capabilities to development, design, engineer, project management, installation, construction, operation and ongoing maintenance services for both telecommunications/communication systems.

Forward-Looking Statements

This release is not an offer to purchase or sell securities and may contain statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current estimates and projections about Perfect Web Technologies, Inc.'s business, which are derived in part on assumptions of its management, and are not guarantees of future performance, as such performance is difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Such factors include, but are not limited to, the Company's ability to execute effectively its business plan, the success of its spin-off plan, the intended tax-free distribution to the Company's shareholders of record and the success of Willing Holding, Inc.'s ability to execute its business plan. These and other risks described in the information statement should be read in conjunction herewith for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements. The Company assumes no obligation to update information concerning its expectations.

Contact Information

  • Contact:
    Thomas L. DiStefano III
    Perfect Web Technologies, Inc.
    561-955-9295