SOURCE: Polaris International Holdings, Inc.

March 25, 2008 09:15 ET

Polaris Technology, Inc. 2007 Revenues Surpass Projections

TOKYO and LOS ANGELES, CA--(Marketwire - March 25, 2008) - Polaris International Holdings, Inc. (PINKSHEETS: PIHN) (Polaris) is pleased to announce that the 2007 revenues of Polaris Technology, Inc. exceeded management's internal projections and came in at approximately $1,524,000 (JPY 152,400,000).

Polaris Technology, a Tokyo-based IT Outsourcing Services and Technology company, was incorporated on February 21, 2006 by Naoto Higuchi, Vice President of Polaris International Holdings, Inc. and began revenue generation in January 2007. Accordingly the $1.48 million in revenues reflects the Company's results for only the last three quarters of 2007. Polaris Technology is currently outsourcing most of its operational functions. With the completion of the acquisition by Polaris, Polaris Technology plans to increase an in-house full time staff. Polaris Technology's customer list is diverse and international in its composition.

Regarding the 2007 revenue figures, Kuni Misawa, Polaris International Holdings CEO, commented, "We are quite pleased with Polaris Technology's growth. Looking at current demand and the growth we can fuel subsequent closing of our acquisition of Polaris Technology over the next few weeks, we expect 2008 revenues of Polaris Technology to exceed $4,000,000. That coupled with anticipated revenues from the acquisition of Staff IS Cabling Division, we expect to generate over $8 million in revenues in 2008."

About Polaris International Holdings, Inc.

Polaris International Holdings, Inc., a Delaware corporation with offices in Huntington Beach and Los Angeles, California and Tokyo, Japan, is a holding company of IT services and technology companies located in Japan. The Company plans to expand from its current territory of Japan to include the other rapidly growing Asian markets.

Polaris International Holdings has entered into an acquisition agreement with Polaris Technology, Inc. a privately held IT company in Japan as well as a definitive agreement for the acquisition of Staff IS CO., Ltd's cabling division http://www.staffis.co.jp.

Forward-Looking Statements and Risk Factors

Certain statements in this press release are "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. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of Polaris International Holdings, Inc to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. There can be no assurance that we will satisfactorily reach our objectives or projections. Other factors, which could materially affect such forward-looking statements including risk factors relating to lack of sufficient capital, competition, lack of expertise in some or all of the areas we are currently attempting to do business in and lack of market support for our stock. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Contact Information

  • CB Maxwell
    Maxwell Media Marketing
    209-533-8291