Single Source Financial Services Announces Acquisition of Bio-Solutions Manufacturing as Part of Corporate Restructuring

Single Source Financial Services Announces Acquisition of Bio-Solutions
Manufacturing as Part of Corporate Restructuring 


LOS ANGELES, March 18  /PRNewswire-FirstCall/ -- Single Source Financial
Services Corporation  (BULLETIN BOARD: SSFI)  ("Single Source") today announced
its acquisition of Bio-Solutions Manufacturing, Inc. ("Bio- Solutions"),
developer and manufacturer of biological waste remediation products.  Single
Source also announced today its intention to change the primary focus of its
business from financial services to the development and manufacture of
environmentally safe bio-remediation products.

As part of its restructuring, Krish V. Reddy, PhD., Joe H. Ashley and Patricia
Spreitzer have been elected directors of Single Source and the former directors
and officers have resigned.  Dr. Reddy, President of Bio-Solutions, has been
elected President and Mr. Ashley has been elected Secretary and Treasurer of
Single Source.  Single Source has transferred the stock of its two wholly owned
subsidiaries, SSFS Merchant Services, Inc. and CardReady of New York, Inc., to a
third subsidiary, Single Source Electronic Transactions, Inc. ("SSET").  Single
Source is in the process of preparing a Form 10 for filing with the Securities
and Exchange Commission ("SEC") and upon approval, will make a pro-rata
distribution to its shareholders of all its stock of SSET.  SSET retains an
option to acquire CardReady International, Inc.

Dr. Reddy remarked that "Bio-Solutions Manufacturing is very excited about being
part of a publicly traded company and that its acquisition by Single Source will
allow access to additional resources to permit its continued growth.  The Board
believes the acquisition of Bio-Solutions is a dynamic step toward growing the
company and creating shareholder value."

Bio-Solutions has developed superior microbiological products for waste
bio-remediation.  It currently services many municipal collection systems and a
growing number of food service facilities in the United States.  The company's
products have been approved for use by an ever-growing number of municipalities
for use in food service facilities that produce waste products introduced into
the municipal collection systems.  Bio-Solutions products treat waste in an
environmentally friendly and safe manner in compliance with Federal and State
government standards.

The matters set forth in this news release may contain forward-looking
statements.  Forward-looking statements involve certain risks and uncertainties
that could cause actual results to differ materially from expectations. 
Contributive factors to such differences include those identified in the
company's fillings with Securities and Exchange Commission ("SEC"). 

DATASOURCE: Single Source Financial Services Corporation



CONTACT:  Joe H. Ashley of Single Source Financial Services Corporation

[phone]

Copyright