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smartbiz85

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smartbiz85

Re: None

Friday, 10/08/2004 3:54:35 PM

Friday, October 08, 2004 3:54:35 PM

Post# of 3616
LOS ANGELES, Oct. 5 /PRNewswire-FirstCall/ -- IVI Communications, Inc.

(Pink Sheets: IVCM) announced today that they have signed an agreement with a
private investment company for the purchase by the investment company of
$2 million of IVI Communications, Inc. common shares in exchange for shares of
the investment company.

The investment company is a newly formed London-based company that will
apply for its shares to be admitted to trading on the London stock exchange as
an investment trust. The investment company has been established specifically
to invest in US micro cap companies with long term growth potential. The
investment company expects its shares to be trading on the London Stock
Exchange by October 29, 2004.

"This investment will enable IVI Communications, Inc. to speed up our time
table in acquiring Tier III Dial-up Internet Service Providers," said Nyhl
Henson, CEO of IVI Communications, Inc.

The investment company has entered into a "lock-up" agreement with IVI
Communications, Inc. pursuant to which it has agreed not to trade the IVI
Communications, Inc. shares it will receive as a result of this transaction
for a period of one year from the closing date. IVI Communications, Inc. has
agreed to file a registration statement with the SEC allowing the public
resale of the common shares by the investment company, commencing at the
expiration of the "lock-up" period. In full payment for the shares of IVI
Communications, Inc., the investment company will issue to IVI Communications,
Inc. $2 million equivalent of its shares at a price per share valued at One
Pound Sterling.

Thirty percent of the investment company's shares will be held in escrow
for one year following their issuance and in the event the per share market
price of the IVI Communications, Inc. common stock at such time is less than
the per share value of the IVI Communications, Inc. stock at the time of the
closing, the investment company shall be entitled to receive out of escrow a
percentage of the shares equal to the percentage of such decline. The
remaining shares held in escrow shall be released to IVI Communications, Inc.
at such time. The closing of this transaction is subject to certain
contingencies, including the listing of the investment company shares on the
London Stock Exchange on or before October 29, 2004.

http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/10-05-2004/0002265863&....



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