SOURCE: Sparta Commercial Services, Inc.

June 09, 2010 10:00 ET

Municipalities Respond Positively to Sparta's Alliance With ICOP

NEW YORK, NY--(Marketwire - June 9, 2010) -  Less than two months after Sparta Commercial Services, Inc. (OTCBB: SRCO) and ICOP Digital, Inc. announced their new strategic alliance, Sparta is pleased to announce that, as a direct result of the new relationship, nine municipalities around the country have requested lease proposals, representing over $2.6 million of prospective new business for Sparta's Municipal Lease Program.

The nine municipalities include two cities in Illinois, two in North Carolina, and one each in Minnesota, Wisconsin, Nebraska, Ohio, and Alabama.

The strategic alliance between Sparta and ICOP designates Sparta as the preferred provider of lease financing for the advanced mobile video equipment produced by ICOP and marketed to municipal law enforcement and other agencies throughout the United States.

Sparta's Municipal Lease Program has become increasingly popular among local agencies as a more fiscally prudent and cost effective way of acquiring the necessary equipment they need, whether it is police motorcycles or cruisers, EMS or tactical vehicles, or trucks or specialty equipment. The Sparta program enables municipalities to acquire critical equipment through a lease, with the costs spread out over a period of time, rather than a purchase that requires paying the full cost up front. With local governments suffering from lower revenues and having to be much more attentive to their budgetary constraints, Sparta's Municipal Lease Program has become an excellent alternative to traditional purchasing.

Commenting on the quick results of the new alliance with ICOP, Anthony Havens, Sparta's CEO, said, "We knew that the relationship with ICOP would be mutually beneficial, but we're particularly pleased that the opportunities are developing so quickly. Given ICOP's line of critical, state-of-the-art equipment, and Sparta's commitment to support their sales with our Municipal Lease Program, the relationship is clearly a perfect match. We expect to have a mutually profitable relationship well into the future."

About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. (OTCBB: SRCO) is a New York-based, nationwide financial services company dedicated to municipal and governmental leasing. Sparta specializes in the financing of essential equipment and services for the law enforcement and emergency response communities. Sparta also offers financing and leasing products to consumers and retail powersports dealers.

About ICOP Digital, Inc.
ICOP Digital, Inc. is a leading provider of mobile video solutions (i.e. in-car video) for Law Enforcement, Military, and Homeland Security markets, worldwide. ICOP solutions help the public and private sectors mitigate risks, reduce losses, and improve security through the live streaming, capture and secure management of high quality video and audio. www.ICOP.com

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are valid only as of today and we disclaim any obligation to update this information. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, obtaining, satisfying terms of, and amount of credit lines, competition, financing and commercial agreements and strategic alliances, seasonality, potential fluctuations in operating results and rate of growth, management of potential growth, system interruption, consumer and industry trends, limited operating history, and government regulation. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov.

Contact Information

  • Contact:

    Dick Trotter
    COO
    Sparta Commercial Services, Inc.
    (212) 239-2666