LOS ANGELES, March 8, 2005 (PRIMEZONE) -- SolutionNET (Pink Sheets:SLNN) today announced that it has agreed to a share exchange agreement whereby the assets and business of SolutionNET Asia Pacific will be exchanged for a new equity stake in SolutionNET Technology Corporation, which will be the consolidation umbrella company for the all global branded SolutionNET operating entities. SolutionNET Technology Corporation plans to immediately file its SB2 Registration Statement with the SEC in preparation for its IPO.
SolutionNET has also signed a Venture Banking agreement with FutureVest, Inc. (Pink Sheets:FTVT), in which it will also immediately begin plans to catch up on all of its overdue SEC 10Q and 10K filings, which have been delinquent since September of 2000. Once these filings are completed, SolutionNET will be fully compliant with the reporting requirements of the Securities Exchange Act of 1934 and seek to continue its corporate growth by looking for other technology investments and opportunities in order to expand its holdings and bring value to its shareholders.
FutureVest will add SolutionNET International, Inc to the Venture Banking and Investment "VBI" portfolio as it assists the company through this reorganization. For more information on the new consolidated SolutionNET Technology Corporation, please refer to the company's new website at www.SolutionNET.net. For more information on FutureVest you can go to www.FutureVest.com.
About SolutionNET International, Inc.
SolutionNET International, Inc. is currently traded on the OTC under the symbol "SLNN". SolutionNET is a technology investment and holding company with its major investment being its ownership in SolutionNET Asia Pacific operations. After the completion of this transaction, SolutionNET International, Inc. will own a new equity stake in SolutionNET Technology Corporation, which plans its IPO in late 2005 or early 2006.
About FutureVest, Inc.
FutureVest, Inc. currently traded on the OTC under the symbol "FTVT", is a global venture banking and investment company dedicated to provide innovative, professional financial services to emerging growth private and public companies in the small and micro-cap markets. FutureVest, in additional to is services, may acquire an equity stake in its Venture Banking and Investment "VBI" portfolio of companies. For more information please refer to the company's website: www.FutureVest.com
Statements in this release are "forward-looking statements". Investors are cautioned that such forward-looking statements involve risk and uncertainties including, without limitation, acceptance of the company's products, significant levels of competition for the company and dependence on the performance of the management of the company