SOURCE: The Italian Oven Inc.

June 09, 2009 03:40 ET

The Italian Oven, Inc. Subsidiary Purchases Portfolio of High Value Internet Domain Names

DOYLESTOWN, PA--(Marketwire - June 9, 2009) - The Italian Oven, Inc. (PINKSHEETS: IOVE) announces that its wholly owned subsidiary, Italian Oven Intellectual Property Corp. entered an agreement to purchase 80% of Domain Management, Inc.

Domain Management owns over 150 Costa Rican domains of high value (.cr). Italian Oven Intellectual Property Corp. will make a decision as to whether to resell the domains or to develop websites for the domains.

The domains include, but are not limited to:,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

IOVE will be taking action over the next several months to increase the value of the domains with content. The company invites suggestions from the public in this regard. IOVE hopes to eventually spin off Domain Management to its shareholders.


IOVE is a diversified holding corporation. IOVE share structure consists of 938,291,700 common shares of which 500,000,000 are restricted belonging to My Pleasure Limited, public float shares of 325,161,800 (held by CEDE & Company), and certificate shares of 113,129,900 (70,546,600 restricted, 42,583,300 unrestricted). No new common shares will be issued prior to November 2009 per binding resolution.

Statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors.

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