SOURCE: International Consolidated Companies, Inc.

January 28, 2008 08:30 ET

International Consolidated Companies, Inc. Signs Letter of Intent to Acquire Business With (Unaudited) USD $40 Million in Revenue, USD $4 Million Net Profit and USD $50 Million in Assets

SARASOTA, FL--(Marketwire - January 28, 2008) - International Consolidated Companies, Inc. (OTCBB: INCC) announced today that it has executed a Letter of Intent (LOI) to acquire Hebei Jiasheng Pharmaceutical & Chemical Limited Co. and its subsidiaries located in Shijiazhuang City, Hebei Province Peoples Republic of China.

The company and its subsidiaries have 21 plus years experience and a strong management team. With 1,000 employees the company is well organized with a diversified balance across research, sales and manufacturing. They manufacture and sell biopharmaceutical compounds to the United States and European markets and have established markets in many key foreign countries for their products.

With a good understanding of their markets, the company has a clear corporate vision of where they want to go with their new and existing products. Their knowledge of the marketplace and regulatory compliant operation combined with their sales and marketing expertise gives the company a clear competitive edge.

They have a Regulatory & Quality Assurance Department that is capable of obtaining regulatory clearance in the US and Internationally. Their products are GMP (Good Manufacturing Practice) certified and compliant with the pharmacopoeia of many countries.

2006 UNAUDITED REVENUE of USD $30 million and after tax profits of USD $ 3 million.

2007 UNAUDITED REVENUE of USD $40 million and after tax profits of USD $ 4 million.

The UNAUDITED BALANCE SHEET has USD $50 million in assets.

The Terms of the Acquisition will be announced following completion of due diligence and audit and the Definitive Acquisition Agreement is executed.

With this addition to the International Consolidated Companies, Inc. family, the Company is rapidly gaining the reputation in China for attracting well managed, highly respected quality Companies.

About International Consolidated Companies, Inc.:

International Consolidated Companies, Inc. specializes in acquiring international businesses located in the expanding Asian markets focusing on three dynamic areas: healthcare, technology and environment. Utilizing a unique acquisition model International Consolidated Companies, Inc. provides foreign companies an opportunity to gain access to U.S. capital markets. In exchange, International Consolidated Companies, Inc. retains a significant percentage of each target company, creating a diversified, growth oriented investment base that should enjoy a steady, long-term increase. Each target company reviewed for acquisition must meet specific criteria detailed in International Consolidated Companies, Inc.'s acquisition model and has proven commercial track records. Management is confident that it should deliver consistent, continued growth and be successful in increasing shareholder value through accurate and meticulous due diligence.

Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by International Consolidated Companies, Inc., (the "company"), as well as those contained herein, that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief, or current expectations, estimates, or projections of the company, its directors, or its officers about the company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the company's strategies regarding growth and business expansion, including future acquisitions; (b) the company's financing plans; (c) trends affecting the company's financial condition or results of operations; (d) the company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the company's ability to respond to changes in customer demand and regulations. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.

Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix, and the geographic mix of sales.

The company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.

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