SOURCE: Propalms, Inc.

September 28, 2010 08:29 ET

Propalms, Inc. Signs Letter of Intent to Acquire South Florida IT Solutions Firm

Company Continues to Implement New Corporate Strategy with Proposed Acquisition of Acute Systems Consulting LLC

MALTON, ENGLAND--(Marketwire - September 28, 2010) -  Propalms, Inc. (PINKSHEETS: PRPM) is pleased to announce that the Company has signed a non-binding letter of intent to acquire 100 percent of the shares of Acute Systems Consulting LLC, a South Florida IT Solutions firm, in exchange for $200,000 to be paid in restricted shares of National Energy Services Company valued at $.05 per share. National Energy Services Company is currently trading at $.0163 per share. Propalms received the shares when the Company sold its wholly owned subsidiary in a previous transaction.

Propalms, Inc. recently implemented a new corporate strategy to focus on buying and selling technology companies and distributing the proceeds the Company receives on each transaction to its shareholders.

Acute Systems offers fully managed Cloud hosting solutions. Acute Systems handles all aspects of Information Technology for small/medium businesses, to fully virtualized Cloud solutions. Acute Systems' 2009 revenue was $267,550. Acute Systems is a certified partner of leading software corporations such as VMware, Microsoft, Citrix, Dell, 2X, AVG, and Open-E Storage Systems

"I am excited about the relationship with Propalms and how their strong distribution network and management team can help our company increase its revenue over the next twelve months," stated Anthony Morales, Director of Acute Systems Consulting LLC.

"This potential acquisition of Acute Systems is a key building block as we implement our new corporate strategy," stated Owen Dukes, CEO of Propalms, Inc. "We feel that our team will enable Acute Systems to grow into a solid IT solutions firm with increased revenue within the next twelve to eighteen months,"

Propalms recently announced that the Company will be holding a Nationwide Teleconference on Wednesday, September 29, 2010 at 4:15 pm EDT. There is expected to be a high demand for the call-in lines for this Nationwide Teleconference and space will be limited. Please call +1(407)389-5900 today to reserve your place and receive the information that will enable you to participate in the conference. If you would like to suggest a question to be asked during the teleconference, please email your question to info@propalms.com.

For more information on Acute Systems Consulting LLC, please visit www.acutesys.com.

About Propalms, Inc.:

Propalms, Inc. (www.propalms.com) is a technology incubator company that acquires small and medium sized revenue generating corporations and helps them grow utilizing their global distribution and reseller network, as well as providing strong management and capital.

Safe Harbor:Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements'' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

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