Absolute Life Solutions Appoints Sy Stern as Independent Director

NEW YORK, Jan. 3, 2011 /PRNewswire/ -- Absolute Life Solutions, Inc. (OTC Bulletin Board: ALSO), a financial services firm focused on the creation of cash liquidity for seniors, as well as insurance-industry focused investors, today announced that the company has elected Mr. Sy Stern to its Board of Directors effective immediately.  The addition of Mr. Stern brings the Board's membership to 4 directors, of which 3 are independent.

Currently a Managing Member of the Stern Professional Group LLC, a consulting group focused on complex tax and legal matters, and a partner in the law firm of Stern and Stern LLP, Stern began his career in private tax and accounting in 1998.  In 1999 he joined the accounting firm of PricewaterhouseCoopers LLP in New York where he quickly advanced to manager.  In 2006, he began work as a Tax Manager for Ernst & Young, LLP and in 2007 he became a partner in the law firm of Polter and Stern, LLP.  During his career he has also functioned as chief financial officer for BC-XE, LLC, a real estate development joint venture.

Commenting on the appointment, Moshe Oratz, Chief Executive Officer of Absolute Life Solutions, Inc., stated, "It is a pleasure to have the opportunity to welcome such a qualified individual as Sy to the Absolute Board of Directors.  He has an active and notable tax, finance, and legal career and we anticipate that his input will be invaluable to Absolute as we endeavor to grow our financial services organization.  We look forward to his contribution going forward."

"I join the Absolute Board at a very exciting time in the company's history," stated Stern.  "The life settlements industry has significant untapped potential and the management of Absolute has done excellent work in positioning the company to be a successful contender in this market.  I am looking forward to working with the Board and the executive team to bring the company's potential to fruition," Stern concluded.

Stern, 38, earned his J.D. at New York Law School and his MBA in Accounting at Pace University - Lubin School of Business.  He is a member of good standing in the New York State Bar Association and the New Jersey State Bar Association.  He is also a Certified Public Accountant licensed in the State of New York.

About Absolute Life Solutions, Inc.:

Absolute Life Solutions, Inc. offers a distinctive approach that provides liquidity to seniors while creating a stable alternative asset class for investors.  By securing only high-quality policies and employing a proprietary valuation platform and best-in-class portfolio and management techniques, Absolute seeks to optimize an insurance policy's inherent value and minimize risk.  For more information about Absolute Life Solutions, Inc., please visit our website at www.absolutels.com

Forward Looking Statements

Some statements in this release may be "forward-looking statements" for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in our public filings with the Securities and Exchange Commission.  Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We undertake no obligation to update these forward looking statements.

SOURCE Absolute Life Solutions, Inc.