SOURCE: Paivis, Corp.

June 27, 2008 11:32 ET

Paivis, Corp. Updates Shareholders Regarding Trustcash Merger; Merger Agreement Still in Effect With Purchase Price of $0.10/Common Share in Cash Plus One Common Share

ATLANTA, GA--(Marketwire - June 27, 2008) - PAIVIS, CORP. ("Paivis" or the "Company") (PINKSHEETS: PAVC) today updates its shareholders regarding the planned merger with Trustcash Holdings, Inc. ("Trustcash") and comments on the recent Dutch Auction announcement.

The terms of the Merger Agreement are still in effect, whereby the Paivis shareholders are to receive $0.10/common share in cash plus one common share from Trustcash. (All details of Merger Agreement filed with the SEC in form 8K on February 12, 2008.)

The Dutch Auction is a process Trustcash notified the Company of because they would prefer to acquire as much Paivis common stock as possible under the $0.10/share purchase price and a Dutch Auction is one way of doing so.

Paivis shareholders do not have to participate in a Dutch Auction if they do not wish to.

If Trustcash decides to conduct a Dutch Auction the appropriate details will be provided and Paivis will do everything possible to seek the best price range for its shareholders.

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, including Duane Reade, 7-Eleven, and Chevron.


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. TRUSTCASH and PAIVIS intend 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 TRUSTCASH and PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in TRUSTCASH and PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at

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