SOURCE: Netspace

December 03, 2007 09:10 ET

Netspace International Holdings, Inc. Issues Letter to the Shareholders

AVENTURA, FL--(Marketwire - December 3, 2007) - Netspace International Holdings, Inc. (Netspace) (PINKSHEETS: NSIH) issues a letter to the shareholders.

Dear Shareholder,

As we near the end of 2007, we are working hard to lay a solid foundation for Netspace International to grow upon in the New Year.

Netspace has gone through a series of material changes recently that we would like to shed some light on. Prior to these changes, Netspace was in need of an operational and corporate overhaul. The Company was operating at a loss, and, due to recent regulatory changes and financial commitments undelivered, was in a situation that it could not sustain. Our optimism in Netspace and the Franchising model continues to exist, so an assessment of the Company was done and, with the blessing of majority shareholder approval, a new direction has been planned that should ultimately result in a stronger Company with increased revenues, operational growth and greater rewards for our shareholders.

It is my goal to protect and utilize Netspace's main assets, which are i) Intellectual Property, including Trademarks, Franchise Collateral, and Franchise Operations Systems, and ii) the recently acquired public company, NSIH (formerly TGIT). As such, with majority shareholder approval, we have strengthened Netspace's management team through the acquisition of Birch Holdings.

The Birch Holdings acquisition was completed through a stock transaction for convertible preferred shares which can only be converted once specific goals are met. The acquisition resulted in the appointment of myself, Neil Swartz, as interim CEO. We also added the expertise of Jim Baker and Ashif Jiwa to our Board of Directors to help steer the Company in the right direction.

To utilize NSIH, the public company vehicle, we sought out an acquisition target that could take advantage of the public markets while giving our shareholders the upside potential. After much consideration we honed in on The Singlefin Group, a company that has displayed a very good business plan and profitability. The company is in the action sports industry and currently has several revenue-generating assets. As per the November 26th news release, we have entered into a Letter of Intent to acquire Singlefin, with hopes to successfully leverage the Singlefin brands and increase shareholder value through market penetration and generated revenues.

In addition to Netspace International's pending Singlefin acquisition, we believe we can maximize shareholder value by finding a buyer for Netspace Franchise assets. We are presently in talks with third party companies to merge or acquire Netspace Franchise Assets and hope to report positive outcomes soon.

We are very much looking forward to Netspace's growth and success in the New Year. I remain confident that Netspace shareholders will benefit greatly from this new direction, and hope that you too can see the positive side of change. I invite you to call our Investor Relations line for further information about Netspace and its ongoing activities.

On behalf of the Board
Neil Swartz,
Netspace CEO

Further Information

Shareholders and prospective investors are encouraged to call Investor Relations toll-free at 1-866-511-1147 to receive detailed information about Netspace.

About Netspace International Holdings, Inc.

Netspace International Holdings is comprised of two wholly owned subsidiaries: 1. Netspace Franchise International, responsible for all franchise operations for Internet Marketing opportunities, and 2. Netspace Ventures, providing services for select qualified companies in exchange for equity. Netspace's recent acquisition of Birch Capital Group allows the Company to leverage Birch's merchant banking expertise and relationships for future expansion opportunities.

About Singlefin Group, Inc.

The Singlefin Group, Inc. is a holding company and emerging brand incubator focused on the action and lifestyle sports industry. The Company's mission is to acquire, invest in, develop and nurture emerging growth brands in the explosive action sports industry. With offices in Portland, Maine, the company is located in the untapped region of the northeast with tremendous market penetration regionally and quickly becoming nationally recognized.

Forward-Looking Statements

The foregoing press release may contain forward-looking statements, including statements regarding, among other things, about the expectation of Netspace International's future business that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forward looking statements as a result of a variety of factors including, among others, the state of the economy, the competitive environment, and the Company's performance. In light of these risks and uncertainties there can be no assurances that the forward-looking statements contained in this press release will in fact transpire or prove to be accurate. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.

Contact Information