DENVILLE, N.J., May 26, 2006 (PRIMEZONE) -- NetFabric Holdings, Inc., (OTCBB:NFBH) (NetFabric) today announced that the Company and Macrocom Investors, LLC (Macrocom) entered into an agreement, whereby Macrocom agreed immediately to convert a note issued by the Company in the principal amount of $500,000 and due on October 10, 2006, including all interest accrued hereon, into one million restricted common stock of the Company. In addition, Macrocom and the Company agreed to waive and release each other from any claims in connection with the Note and all other agreements executed to date between Macrocom and the Company. In exchange for the waiver and the early conversion, the Company agreed to issue to Macrocom one million and five hundred thousand shares of restricted common stock.
About NetFabric Holdings, Inc.
NetFabric Holdings, Inc. (OTCBB:NFBH), through its subsidiary UCA Services, Inc., provides IT services and solutions to a wide range of clients in the financial industry as well as the pharmaceutical, healthcare and hospitality sectors. The Company's broad range of services include (i) Managed Services, (ii) Professional Services, (iii) IT Infrastructure & Communications Services and Maintenance, and (iv) Application Development and Maintenance. NetFabric is based in Denville, NJ. For additional information, visit www.netfabric.net.
Safe harbor for Forward-Looking Statements:
The foregoing contains "forward-looking statements," which are based on management's beliefs, as well as on a number of assumptions concerning future events and information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside NetFabric's control, that could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please see NetFabric's filings with the Securities and Exchange Commission. NetFabric disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of NetFabric.