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March 29, 2006 For Immediate Release
INTELLIGENT SECURITY NETWORKS, INC.
AGREES TO ACQUIRE XXXXXXX APPAREL GROUP, INC.
Deerfield Beach, FL: Intelligent Security Networks, Inc. (OTC: "ISNT") announced
today that it had agreed to acquire Xxxxxxx Apparel Group, Inc. of Deerfield
Beach, FL through an exchange of shares of Common Stock. The transaction, which
will include a change of name of the Company, has been approved by shareholders
and is expected to close on or before April 15, 2006.
Xxxxxxx Apparel Group specializes in trendy Brazilian-cut denim fashions,
including its signature line of "Bullet Hole Jeans" accented with Swarovski
crystals. The Company also designs and produces ladies tops, skirts and lingerie
as well as men's shirts and jeans. Company founder, CEO and principal designer
Xxxxxxxxxxx X. Xxxxxxx will serve as Chairman and CEO of the Company while
Xxxxxxx X. Xxxxxxx serves as Executive Designer. Upon closing, the company will
be renamed Xxxxxxx Apparel Group, Inc. "I look forward to taking our company to
the next level of development and expansion through this acquisition" said Xx.
Xxxxxxx.
The Company's executive offices, showroom, retail store and production facility
are located in Deerfield Beach, Florida. Additional showroom/retail locations
are planned for New York, Boston, Los Angeles and Fort Lauderdale during the
next year, and additional production and warehouse space will be obtained in the
near future. The company's fashion line will also be featured in a series of
nightclub promotions throughout the United States hosted by actor Xxxxxx Xxxxx.
A television infomercial will begin airing in May in both Spanish and in English
and on May 1, 2006 a billboard in Times Square at Broadway and 00xx Xxxxxx will
be unveiled.
Intelligent Security Networks, Inc. is proceeding with its previously-announced
plans to issue a stock dividend to its shareholders whereby it will distribute
all of the shares of Common Stock of Suncoast Nutriceuticals, Inc. ("SNI") which
it received from SNI as partial compensation for the purchase and sale of its
sun care and skincare assets and the shares of its Caribbean Pacific Natural
Products, Inc. subsidiary. The share dividend will be one (1) share of SNI
Common Stock issued for each three (3) shares of ISNT Common Stock owned of
record by each shareholder as of the close of business on a new record date
which will be announced shortly. Fractional shares will be adjusted to the next
highest number of shares.
Certain statements in this press 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, 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 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. 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.
For further information, please contact:
Xxxxxxx X. Xxxxxx
Intelligent Security Networks, Inc.
(000) 000-0000
Xxxxxxxxxxx X. Xxxxxxx
Xxxxxxx Apparel Group, Inc.
(000) 000-0000
xxx.xxxxxxxxxxxxxx.xxx
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