SOURCE: Infrastructure Developments Corp.

Infrastructure Developments Corp.

May 18, 2011 08:00 ET

Infrastructure Developments Corp. Announces Debt Restructuring

SALT LAKE CITY, UT--(Marketwire - May 18, 2011) - Infrastructure Developments Corp. (OTCBB: IDVC) today announced that it has reached an agreement with a founding shareholder of Intelspec International, Inc., its wholly owned subsidiary, to convert approximately $2.4M in current debt to long-term debt.

The agreement provides for the debt to incur interest at 6% per annum going forward payable after a five-year period and includes a discounted prepayment option, an option for the debt holder to convert to equity, and a provision for board of director representation at the request of the debt holder.

"The offer to restructure our debt could not be better timed," said Thomas R. Morgan, CEO of Infrastructure. "We are currently exploring new projects which require substantial bonding commitments. Restructuring this debt will transition our balance sheets from a working capital deficit to a surplus. This action will both strengthen our balance sheet in the eyes of bonding agencies as well as provide us with a realistic window in which to pay this important creditor in a timely fashion."

Infrastructure is an engineering and construction services company that services an underserved niche in the global project management spectrum, targeting specialized projects and subcontracts that are too small to attract giant multinational firms, but which still require world class engineering expertise. Staffed by key personnel with decades of experience in performing work for the US Department of Defense and the US Department of State, Infrastructure is familiar with the complex requirements of government contracts and the unusual challenges of performing high standard work in difficult environments. Infrastructure is currently managing the construction of a US military training facility in Indonesia and is pursuing a formal contract on a large government housing project in Angola.

Forward-Looking Statements:

A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve risks and uncertainties including Infrastructure's ability to procure design and management projects, competitive market conditions, and Infrastructure's prospects for securing additional sources of financing as required. The actual results that Infrastructure may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Infrastructure encourages the public to read the information provided here in conjunction with its most recent filings on Form 8-K, Form 10-Q and Form 10-K. Infrastructure's public filings may be viewed at www.sec.gov.

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