Interact Holdings Group, Inc. Announces Closing of Acquisition of Intellectual Property for Patented Electric Motor

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
IN House	LSE:IHGP	London	Ordinary Share	GB00B3Y0R059	ORD 1P

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LSE:IHGP

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ORD 1P

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Interact Holdings Group, Inc. Announces Closing of Acquisition of Intellectual Property for Patented Electric Motor

12/03/2009 1:45pm

PR Newswire (US)

IN House (LSE:IHGP)
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ATLANTA, March 12 /PRNewswire-FirstCall/ -- Interact Holdings Group, Inc. (Pink Sheets: IHGP) announced today it has closed on the acquisition of the Intellectual Property and Rights for a newly patented electric motor design. The Company anticipates having prototypes of the motor within 90 days for usage in electric scooters, electric motorcycles and other similar devices and vehicles. The Company projects the improved design will allow the vehicles to experience a 50% improvement in power and a 25% increase in battery life. The Company was able to close the transaction in a timely fashion based upon the extensive discussions and negotiations the parties have been involved in since the 4th quarter of 2008. "We are pleased with the speed at which this deal went from negotiation to acquisition. The forecast we've made regarding moving IHGP into an Era of Profitability, while adhering to our mandate of being Green {Eco - Friendly and Eco - Responsible} has crossed its first hurdle. "We can now move to the next phase which entails the prototyping of the first Electric Scooter / Motorcycle Motors. Because of the High Performance capabilities of the motor we've already had several inquiries made regarding licensing the motor for use in other products that can use its High Torque and Power abilities. "We now have the lynchpin, which was necessary for launching a strong marketing campaign. As we move from one phase to the next, we will keep you apprised of where IHGP stands in its proof of concept," said William Yates, President of Interact Holdings. For more information about Interact Holdings Group, Inc., visit http://www.interactholdings.com/. Interact Holdings Group Inc. is the exclusive US distributor of LUUMS International B.V.'s LED product lines. For more information about LUUMS International B.V., visit http://www.luums.eu/. Safe Harbor Statement: This release contains forward-looking statements with respect to the results of operations and business of Interact Holdings Group, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995. DATASOURCE: Interact Holdings Group, Inc. CONTACT: William Yates, +1-678-388-9857, Web Site: http://www.interactholdings.com/ http://www.luums.eu/

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