Innovative Software Direct plc
LSE : ISDP

November 30, 2010 11:48 ET

Statement re Letter of Intent

30 November 2010

                                                 
                      INNOVATIVE SOFTWARE DIRECT PLC ("ISD" or the "Company")
                                                 
                                         LETTER OF INTENT

Further to the announcement of 29 October 2010, regarding the Letter of Intent from IA Global  Inc
("IAGI"),  to  acquire 100% of the Company's trading subsidiaries Powerdial Systems and  Powerdial
Services, the Board announces the following:

The  Letter of Intent from IA Global Inc. remains active, and the transaction is expected to close
as soon as legal agreements can be finalised. Since the previous announcement the Company has been
undertaking its detailed due diligence in respect of IAGI's international trading subsidiaries and
reorganising its banking facilities. As a result of the matters noted, the Board announces a delay
in bringing this transaction to a close.

However  the  Board  is  pleased to announce that the processes of  due  diligence  and  corporate
restructuring have otherwise been smooth and transparent.

The Board reaffirms its commitment to progressing this project to a closure and expects to release
an appropriate announcement shortly.



About IA Global, Inc.

IAGI,  whose  stock  currently trades on the OTCBB Exchange under the symbol "IAGI"  is  a  global
services  and  outsourcing company focused on growing existing businesses  and  expansion  through
global mergers and acquisitions.  IAGI is currently utilising its current business partnerships to
acquire growth businesses in its target sectors and markets. The company is also actively engaging
businesses  that  would  benefit  from its business expertise, knowledge  of  Asian  Markets,  and
technology infrastructure.



The Directors of ISD accept responsibility for this announcement.

                                                 
                                                 
                                            ---ENDS---

Contact Information

  • Innovative Software Direct plc