SOURCE: Homeland Security Network, Inc.

June 12, 2007 09:30 ET

Homeland Security Network, Inc. Sells Three Subsidiaries to Monet Acquisitions, LLC

RICHARDSON, TX--(Marketwire - June 12, 2007) - Homeland Security Network, Inc. (OTCBB: HSYN) has sold three subsidiaries to Monet Acquisitions, LLC of Dallas, Texas ("Monet"). Monet is a private equity firm with activities in the United States, Europe, Latin America and the Middle East. The management of Monet provides capital to companies that are developing and expanding which require substantial equity to accomplish their goals.

The current structure of the spin-off from HSYN has one of the companies as the parent and the other two companies as wholly owned subsidiaries. HSYN retained a 10% ownership of the parent and will distribute their shares as a dividend to the existing shareholders of HSYN. The name of the recapitalized company will be changed to Opportunity Growth Group, Inc. ("OGGI") and will file with the SEC to become publicly traded on the NASDAQ Bulletin Board or the American Stock Exchange.

Peter Ubaldi, President & CEO of HSYN, is quoted as saying, "We have continued to pursue avenues to create potential upside from the subsidiaries of HSYN. This spin-off is an example of added value for our stockholders in an industry which is unrelated to our core business of GPS Tracking. We are pleased with the Monet transaction and look forward to distributing the stock of this new venture to our loyal shareholders."

This news release includes forward-looking statements regarding, among other things, the company's business and financial plans, strategies and prospects. Although the company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, it cannot provide assurance that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as: believe, expect, anticipate, should, planned, will, may, intend, estimated, and potential, among others. Important factors that could cause actual results to differ materially from the forward-looking statements made in this news release include market conditions and those set forth in any reports or documents that the Company may publicly file from time to time. All forward-looking statements attributable to the company or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.

Contact Information

  • CONTACTS:

    Homeland Security Network
    Peter Ubaldi
    214-618-6400
    www.hsni.us

    Market News First
    Don Whatley
    214-461-3507
    www.mn1.com