SOURCE: Labwire, Inc.

August 07, 2008 09:00 ET

Labwire Announces Corrections, Clarification, and Management Direction

HOUSTON, TX--(Marketwire - August 7, 2008) - Labwire Inc. (PINKSHEETS: LBWR), a leading provider of employee screening solutions and canine security and surveillance services, announced today the following items of clarification concerning previous press releases and the recent 8K year-end audit informational publication:

1)   There were some issues (technical and copy-wise) with the edgarization
     of the audit results. This has been corrected with a subsequent
     publication of an 8-K A.
2)   Section 9 of the audit footnotes "Subsequent Events" referred to the
     authorization of a preferred class of stock. Management has never
     solicited or intended to authorize such a class and the proper steps
     have been taken to correct this footnote in the final report. The
     increase in common stock is correct and has been requested to provide
     for capital acquisition to meet business growth, business development
     and acquisition needs.
3)   Upon the completion of the second quarter auditor review, Randy
     Moseley will have completed his sub-contractor assignments related to
     the Company. Effective August 15, his involvement is finalized and
     complete.
4)   Labwire is no longer involved with Capnet Risk or any Capnet Company
     in any capacity.

"At Labwire, we have always strived to provide the markets and our shareholders with the best visibility and clarity into our corporate intentions and management direction and decisions," commented Mr. Dexter Morris, Chairman and Chief Executive Officer of Labwire Inc. "The Company is ready to embark on growth to the next level of business development and market presence. We have achieved record results in revenue and financial performance. We thought this was a good time to answer some questions that have come to us through our shareholder base. We are planning a shareholder conference and will be announcing plans for that in the near future. We appreciate our shareholder support and look forward to the future with much excitement."

About Labwire:

Labwire Inc., Headquartered in Houston, TX, provides secure and compliant employee drug screening and background checking services to Fortune 500 corporations via the Labwire™ Platform. Labwire™ is a proprietary, web-based application that streamlines the complex regulatory and record management activities associated with employee screening, delivering accurate timely results while eliminating service calls and paper trails. This comprehensive solution to managing employee screening services is the most efficient and cost-effective platform in the industry.

Safe Harbor Provisions:

Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Labwire, 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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