ICBS update to shareholders

NEW YORK and MONTREAL, Feb. 5 /PRNewswire-FirstCall/ - ICBS Ltd. (OTCPK: ICBT), announced today that it is providing shareholders with a update vis a vis general business matters and the pending financial reports.

ICBS is in the process of completing its 2009-2010 (February) year end Financial statements. The delay in issuing these statements is that ICBS has to have the financial statements of all the affiliate companies in which it is a shareholder completed. These companies include, Canadian Bio Med Systems Inc., 51% shareholder, BioSpec Global Solutions Inc., 25% shareholder, and ITrendsoft Ltd., 75% shareholder.

ICBS is currently working with its SEC attorney in preparation of an "Issuer Information and Disclosure Statement, Pursuant to Rule 15c2-11" which it intends to publish on Pinksheets.com.

We will issue un-audited statements that we intend to publish on Pinksheets.com. The company is also currently working with a U.S. SEC approved auditor to have these same statements audited.

"Our purpose is to make ICBS more transparent for our shareholders in 2010" said Garth McIntosh, President & CEO "On behalf of ICBS we intend to file additional information with Pink Sheets in an effort to obtain full transparency status. We intend to publish information on investments and coming opportunities as soon as the company has signed the appropriate agreements".

Many of ICBS's investors should not be influenced by stock bashers using various pseudo with hidden agendas on the Internet. In the past these individuals have been successful for example in thwarting acquisitions by ICBS preventing an opportunity and harming the company's legitimate shareholders.

ICBS specializes in mergers and acquisitions (M&A) advisory services and invests in selective businesses with potential for high growth. The Company has designed a three-pronged business model that can potentially yield long term rewards with relatively diversified revenue streams, by;

    -   Acquiring and consolidating undervalued opportunities in selective
        high-growth industries to create value for our shareholders and
        target partners by combining expertise in both the product and
        capital markets.
    -   Acting as an incubator for emerging companies
    -   Taking interest in partner companies to align with their long-term
        interest and help build enduring value for our investors.

NB. This news release includes statements that constitute forward-looking statements. Please be aware that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure documents.

SOURCE Inter Canadian Business Service