SOURCE: WanderPort Corporation

October 17, 2008 10:06 ET

Wanderport Corp. Announces Corporate Restructuring

NEW YORK, NY--(Marketwire - October 17, 2008) - Following a review of its operating structure and functions, the Board of Directors of Wanderport Corporation (PINKSHEETS: WDRP), today announced a significant corporate restructuring plan. The Board has designed growth initiatives to sharpen the Company's focus on key investment opportunities namely biotechnology start-up companies based in Israel, as well as companies whose assets are owned by U.S. Banks. Wanderport believes these initiatives will increase shareholder value and improve the long-term success and profitability of the company. Furthermore, negotiations have begun to acquire and finance specific biotechnology firms based in Tel Aviv and Haifa, Israel.

Wanderport's previous endeavours involving financing for properties are no longer viable in the current market environment. Therefore restructuring of its officers and Directors of the Board shall be effectuated to lead the company towards its new goals and strategies.

Opportunities arising from current market uncertainties, a weakened banking system and companies' growing requirements for capitalisation present Wanderport with its next phase of business development and solutions for asset growth and shareholder equity.

Forward-looking Statement:

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results.

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