SOURCE: IDS Worldwide, Inc.

August 23, 2006 10:00 ET

IDS & HLS Concluding Arrangements With Bankers in Dubai

HLS and IDS to Issue Update After Bank Documents Signed in Next Few Hours

ORLANDO, FL -- (MARKET WIRE) -- August 23, 2006 -- IDS Worldwide, Inc. (PINKSHEETS: IDWD) reported yesterday that the companies would issue a pre-market update today. The HLS and IDS executives at this hour are still concluding arrangements with their bankers in Dubai and filing government licensing documents for the new combined entity. As soon as the executives return to the office the market update will be released to market wire. This is expected to occur in the next three hours. IDS yesterday reported that division is concluding final negotiations to merge with a fully reporting publicly traded company in the next few days. will be the surviving company and will distribute shares to IDS common stockholders on a 1:1 basis for each share owned of IDS common shares at the time of the closing date. IDS shareholders must own the stock 3 days prior to the closing date to allow for the settlement of the trade in their respective accounts.

IDS has received requests to clarify certain points. Every investor purchasing IDS common stock (IDWD) will be eligible to receive the $2.35 cash per share from HLS, the distribution shares and including the HLS dividend shares already received for stock holders who previously qualified (these Special Dividend shares have already been distributed to the IDS common stockholders in restricted form that owned IDS stock on the previously announce record date. It is necessary for IDS to separate the division into its own public company prior to HLS cash buyout of $2.35 per share.

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