Polaris International Holdings, Inc. Signs Letter of Intent for Southern California Based IT Services Company Acquisition

LOS ANGELES, Jan. 10, 2011 /PRNewswire/ -- Polaris International Holdings, Inc. (Pink Sheets: PIHN) announced today that it has entered into a Letter of Intent to acquire a Southern California based IT services company which provides End-to-End solutions such as staffing services and software development and maintenance to various Fortune 500 companies across the United States and Canada, subject to the satisfactory completion of the parties due diligence. The parties contemplate closing to occur in 2011 Q1. The targeted acquisition company that must remain unnamed is currently generating annual revenues in excess of $13,000,000 with 10% EBITDA.

CEO/President Kuni Misawa commented, "We are pleased to announce a LOI with a Southern California based company with an office in India that we feel is a very natural fit for our business moving forward. Due to our current business model being focused on IT service for companies globally, this targeted acquisition, which is a business in the IT service business, is something that the board of directors felt very strongly about pursuing. We have also been involved in pursuing another acquisition on the East Coast since late last year. Under the circumstances, when the opportunity to acquire this Southern California company became available, management felt that it was in the best interest of the company to pursue this transaction first for a number of reasons - specifically relating pricing and compatible business model. Our business strategy remains tied to building a firm foundation on a global market base via acquisitions and mergers. By pursuing this goal, we will stay focused on the acquisition path in order to grow, which includes closing this particular acquisition."

About Polaris International Holdings, Inc.:

Polaris International Holdings, Inc., a Delaware corporation with offices in Los Angeles and San Diego, California and in Tokyo, Japan is in the business of supplying services for Network Infrastructure, ASP and Cloud Computing Solutions. Its management team is composed of seasoned international business professionals with over 60 years of expertise in the technology, media, entertainment and investment industries. POLARIS with both a U.S. and Japan market base is well positioned for the global evolution occurring in IT services and is meeting this evolution with its progressive collection of 'Cloud Solutions and Services' for its corporate Fortune 100 clients. POLARIS' near term plan is to build out its 'Global IT Services' through acquisitions and/or strategic partnerships. www.polaris-int.com

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially form the expected results.

SOURCE Polaris International Holdings, Inc.