SOURCE: IDS Worldwide, Inc.

November 08, 2006 15:22 ET

IDS Clarifies WSA Facilities Purchase and HLS $2.35 Cash Buyout of IDS Common Stock

WSA Facilities Transfer Complete

ORLANDO, FL -- (MARKET WIRE) -- November 8, 2006 -- IDS Worldwide, Inc. (PINKSHEETS: IDWD) previously reported in a November 3, 2006 Press Release that Worldwide Security Acquisitions (WSA) had purchased IDS Worldwide, Inc.'s Distribution and Administration Facilities effective November 3. The purchase of these facilities was in conjunction of the agreement with HLS Worldwide making WSA its Worldwide Manufacturing, Distribution and Marketing Partner.

This transaction in no way altered the terms of the previously negotiated buyout of IDS Common Stock for $2.35 per share. HLS approved of the sale of these facilities to setup their distribution agreement with WSA. IDS no longer needed these distribution facilities for their current contracts. HLS Worldwide is still maintaining its manufacturing facilities in China and Pakistan and WSA will manufacture HLS biometric products at its Hong Kong Facilities to meet the manufacturing requirements under GSA Schedule 70 for USA Government Agency Orders. WSA advisors Breen and Associates filed the appropriate paperwork with the GSA for WSA inclusion under Schedule 70 for IT products.

WSA has always listed its corporate offices at IDS since its inception, anticipating that this acquisition of the facilities from IDS and agreement with HLS Worldwide as the worldwide manufacturing, distribution and marketing partner would culminate in the near term. Contrary to some inaccurate information posted on various internet sites IDS does not now or in the past own WSA, nor is IDS' CEO a shareholder, officer or director of Worldwide Security Acquisitions. By working together to finalize dividend, merger and acquisitions IDS, HLS and WSA have been able to attract top executive talent and major contracts that going forward will reward all long term shareholders in IDS through a more valuable dividend, the $2.35 cash buyout of IDS common shares and a more solid offering for

The complexity of these deals has caused us more delays than any of us like but each delay has added significant strength in revenues, products and some of the best executive talent. IDS is now able to use their extensive backgrounds in the cellphone and online portal industry for the ongoing auction of the biometric cell phone and the offering for These delays are warranted to keep inline with IDS' business plan to do everything to maximize long term shareholder value and not react or alter our goals to react to short term PPS fluctuations.

HLS is currently adding some of the top biometric scientists and software programmers in the world who with the launch later this month of the Microsoft Vista operating system will make HLS biometric products one of the few Vista compatible biometric and encryption products available for the government and business market. All previous biometric products, other than HLS products, will not work on Vista operating systems. Previous purchasers of this hardware will be able to buy proprietary software available through HLS to make these devices compatible or discard the previous purchases and switch to HLS higher encryption Vista compatible biometric drives and biometric mouse.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Contact Information