SOURCE: IDS Worldwide, Inc.

October 09, 2006 11:57 ET

IDS Informed HLS to Update Funding Details After Bank Meeting This Week

IDS Expects to Be Updated After HLS Meets With Swiss Banks on Wednesday

ORLANDO, FL -- (MARKET WIRE) -- October 9, 2006 -- IDS Worldwide, Inc. (PINKSHEETS: IDWD) reported that HLS has informed IDS that its advisors will meet with Swiss Banks this week regarding funding arrangements for the previous IDS buyout for $2.35 per common share. Tender documents are completed pending final details of funding sources and procedures.

Some arrangements have been delayed due to the Holy Month of Ramadan but no terms in the deal have been changed. HLS is more convinced than ever to go forward with the buyout due to continued phenomenal revenue growth and new product launches.

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