IDG Holdings Inc.

IDG Holdings Inc.

May 01, 2007 13:54 ET

IDG Holdings Announces Change of Control and New Board of Directors

CALGARY, ALBERTA--(CCNMatthews - May 1, 2007) - IDG Holdings Inc ("IDG") (NEX BOARD:IDH.H) today announced that it has been informed that five major shareholders have completed the sale of their shares announced on March 23, 2007, under an exempt take-over bid offer from Vancouver businessman Xen Stefanopoulos.

Timothy Holdsworth and Peter Masterton have resigned as directors, and Xen Stefanopoulos and Stephen Diakow have been appointed in their places. Xen Stefanopoulos has also been appointed President of the company. Glynn Jones and Kim Johnson will continue as directors, and Glynn Jones will continue as Secretary and Chief Financial Officer.

The new board of directors and officers of IDG will continue to seek a new business venture, and a further announcement will be made in due course.

IDG is listed on the TSX NEX Exchange and trades under the symbol "IDH.H".

The TSX Venture NEX Exchange does not accept responsibility for the adequacy or accuracy of this release.

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