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Innovative Software Technologies, Inc.

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Innovative Announces Letter of Intent to Acquire MyBizHomepage, Inc.


Tampa, FL, February 18, 2010 --(PR.com)-- Innovative Software Technologies, Inc. (INIV.PK) announced the signing of a Letter of Intent today to purchase industry leader MyBizHomepage, Inc. The transaction will be an asset purchase and Innovative will be employing the current CEO of MyBizHomepage.

MyBizHomepage, based in Washington, D.C., is a leader in providing small businesses with business financial intelligence services formerly only available to larger companies. The Company delivers these services through a SaaS (Software as a Service) Web 2.0 platform and is one of the emerging players in Cloud Computing with a primary focus on the Small-Medium Business Market.

Innovative’s CEO, Robert Rudman stated, “Small businesses individually might not appear significant compared to the large corporate giants and Fortune 500 companies, so these businesses are often overlooked. However, they represent a tremendous business opportunity in aggregate due to their need for bundled goods and services using the Web 2.0 platform. The acquisition of MyBizHomepage provides Innovative with the tools needed to speed our entry into this receptive market.”

“The proprietary products of MyBizHomepage and its distribution channels servicing small businesses around the world combined with the financial capabilities of Innovative creates an excellent combination that will bring an entirely new generation of products and services to the backbone of the global economy…Small Business,” said Peter Justen, CEO of MyBizHomepage.

Contact: Robert Rudman, Chief Executive Officer
Innovative Software Technologies, Inc.

Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company’s financing plans; (ii) trends affecting the company’s financial condition or results of operations; (iii) the company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risks disclosed in the company’s Form 10-K and 10-Q filed with the SEC.

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Contact Information
Innovative Software Technologies, Inc.
LynnMarie Boltze
813-387-3304
Contact

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