SOURCE: Innova Holdings, Inc.

October 26, 2006 07:30 ET

Innova Holdings, Inc. Notifies Stockholders of Special Meeting

FORT MYERS, FL -- (MARKET WIRE) -- October 26, 2006 -- Innova Holdings, Inc. (OTCBB: IVHG), a robotics technology firm providing software and hardware systems to the service, personal, and industrial robot markets, will convene a Special Meeting of Stockholders on Friday, November 3, 2006. As previously announced, the meeting will be held from 10 a.m. to noon at the Holiday Inn Bell Tower, Pine Island Room, 13051 Bell Tower Drive, Fort Myers, FL 33907.

Items for vote are the election of Directors. Nominees are Walter K. Weisel, Martin Nielson, Gary F. McNear, Craig W. Conklin and Rick Wynns.

The next item is a proposal to amend the company's certificate of incorporation to effect a reverse stock split of the outstanding shares of the company's common stock at a ratio of either one-for-eight or one-for-ten, as determined at the discretion of the board of directors to be in the best interests of the company without further approval from stockholders.

The third item is a proposal to approve the company's amended and restated 2005 stock option plan.

The final item is authorizing the proxies in their discretion, to vote on such other business as may properly come before the meeting.

About Innova Holdings Inc.

Fort Myers, FL-based Innova Holdings Inc. (OTCBB: IVHG), through its subsidiaries, provides hardware and software systems-based solutions to the military, service, personal and industrial robots markets. The robotics and automation technology company is chartered to continue expanding its growing suite of technologies through acquisitions and growth. Its founder, Chairman and CEO Walter K. Weisel, is recognized as a pioneer and leader in the robotics industry. The company's wholly owned subsidiaries are Robotic Workspace Technologies Inc. (RWT), Innova Robotics Inc., and CoroWare. To learn more, visit us online at www.InnovaHoldings.com.

Investor Relations

Investors can visit Innova Holdings' Investor Relations Hub at www.agoracom.com/IR/Innova to post questions and receive answers, or simply review questions and answers by other investors. They may also request to be added to the investor e-mail list.

The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

Forward-looking statements such as "believe," "expect," "May," "plan," "intend," etc., contained herein are within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are based on the company's beliefs and assumptions it made using information currently available to it and which reflect current views concerning those future events. Actual results could differ materially. Therefore, undue reliance should not be placed on any forward-looking statements, since they apply only as of today's date, and accordingly, reference should be made to the company's periodic filings with the SEC.

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