SOURCE: Parafin Corporation

ParaFin Corporation

September 16, 2010 09:00 ET

ParaFin Retains Group of Experts and Legal Team to Negotiate With ING N.V.

LOS ANGELES, CA--(Marketwire - September 16, 2010) -  ParaFin Corporation (PINKSHEETS: PFNO) -- ParaFin Corporation has assembled a team of legal consultants in Zurich, London, New York, Los Angeles and Vancouver with experience in dealing with large Financial Institutions such as ING N.V. A Swiss banking expert and fraud specialist has started to gather all ING files associated with the issue of the Series FF ING 5.5% Bearer Bonds issued on June 16, 2000 and redeemable on June 16, 2010.

The redemption period of the ING bearer Bonds (June 16, 2010) has passed and ING has refused several invitations to meet with ParaFin's Forensic Consultant, Gerald M. LaPorte, one of the world's foremost Forensic Experts. Mr. LaPorte's attempts to meet with representatives of ING were to give ING the opportunity to confirm or to contradict the results of his Forensic Report to ParaFin dated May 7, 2010 and to determine the source of the Series FF ING 5.5% Bearer Bonds.

Gerald M. LaPorte was the Chief Forensic Chemist for the US Secret Service until he moved to the Department of Justice as the Forensic Policy Program Manager. The United States Secret Service oversees all matters regarding US issued Securities including the US Currency.

ParaFin is hopeful that a successful resolution will result in negotiating the terms of Redemption of the Series FF ING Bearer Bonds rather than pursue an alternative legal forum of Court jurisdiction to then let the Courts decide.

Disclaimer
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to those, set forth in the companys Form 10-KSB iling and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

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