SOURCE: Paivis, Corp.

December 12, 2008 17:22 ET

Paivis, Corp. Announces Spin-Off Into Another Public Company to Be Finalized by January 31, 2009

ATLANTA, GA--(Marketwire - December 12, 2008) - Paivis, Corp. (PINKSHEETS: PAVC) ("Paivis" or the "Company") today announces the Company expects to finalize the recently announced spin-off into another public company by January 31, 2009.

The Company looks forward to making a joint announcement, with the public company we are in discussions with, as early as the end of this year.

The Company has made significant progress on its spin-off plans and believes it can meet this timeline.

As stated previously, management is committed to providing shareholder value in this challenging economic environment. The Company's reasons for executing a spin-off transaction of this type include among other things, to dividend the shares of this new public company to Paivis' existing shareholders and to take advantage of strategic opportunities without taking on additional debt.

The spin-off company is planned to be a part of Paivis' operations, which may include one of its planned acquisitions. The Company will provide further details of the spin-off plan as developments occur.

About Paivis, Corp.

Paivis, Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets.

FORWARD-LOOKING STATEMENTS

The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.

Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. Paivis intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause Paivis' actual results, performance or achievements to differ materially from current expectations.

Contact Information