NEW ORLEANS, March 18, 2003 (PRIMEZONE) -- Federal Security Protection Services, Inc. ("FSPS") (OTCBB:FSPS) announced the signing of a Letter of Intent with Valta Communications, Inc. ("Valta") to negotiate and consummate a tax-free stock exchange acquisition agreement, subject to due diligence. Gary O'Neal, president and CEO of FSPS, said, "We are very pleased to have signed the Letter of Intent with Valta. The company, under the leadership of Mr. Dustin Thompson, has grown very significantly in its two and one half years of existence, developing into a profitable business with very high standards for delivery of its services. We will work together to have the acquisition agreement completed within sixty days."
Dustin Thompson, president, CEO and founder of Valta, said, "The construction and maintenance services offered by Valta to the communications industry provide FSPS the infrastructure development capabilities needed to complement the secure IP network development services of FSPS, all under one company. Management of Valta looks forward to taking an integral role in the overall strategies of the combined companies and assisting in rapid, profitable growth."
About Valta Communications, Inc.
Valta, based in Shreveport, Louisiana, provides the communications industry with construction and maintenance services. Services provided include construction of cell sites for wireless carriers and maintenance of HVAC, generator and line and antennae maintenance, engineering and installation of RF signaling systems, DC Power systems and back-up power systems.
About FSPS
FSPS, based in New Orleans, is a secure Internet Protocol ("IP") network services provider and full-service managed security services company. The company provides its products and services to other IP-based service providers, systems integrators and the enterprise market. It is developing custom solutions for secure virtual private networks, e-mail/document security management, digital rights management, content delivery networks, IP-based video products suite and others requiring IP-based network security solutions. IP video services include remote surveillance, video conferencing and video e-mail services to businesses. The company also provides transport, co-location and dedicated server services. One key product offering to multinational and enterprise customers is an easily installed surveillance system, connecting multiple locations, which are viewed via virtual private network from a central monitoring area. The ability for security staff to monitor multiple areas via video dramatically reduces staffing needs while improving overall coverage.
Certain information and statements included in this release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements.