IAHL Corporation (IAHL)

[metical1]

KABOOOOOOOOOM!!!! [/B]

Thursday, November 30 2006 11:00 PM, EST

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[B]Rosswood Country Club Board Unanimously Agrees to Sell the Historic Property to New York Based IBAC Corporation[/B]

Business Wire "US Press Releases "

NEW YORK--(BUSINESS WIRE)--

IBAC Corporation (PINK SHEETS: IBCX) a Hospitality/Resort Holding Company reported that tonight the Board of Rosswood Country Club in Pine Bluff, Arkansas unanimously agreed to sell the historic property to IBAC Corporation. The Property will be a 100% owned subsidiary of IBAC Corporation


The country club & golf course a 72 par/6,908 yards was
commissioned by International Paper and built and designed by the
world renowned golf course designer Alfred H. Tull and opened in 1961,
and includes tennis courts, pool, banquet space, restaurant, bar, pro
shop with a resident pro. The property encompasses approximately 200
prime acres. For further information visit:
" target="_blank"http://www.southcentralgolf.com/Pages/Templates/
ArkPrivDetail.php?recordID=Rosswood%20Country%20Club (Due to its
length, this URL may need to be copied/pasted into your Internet
browser's address field. Remove the extra space if one exists.)


The company intents to utilize the country club as an added amenity to the hotel it owns The Royal Arkansas Hotel & Suites in Pine Bluff, Arkansas, [B] The company also intends to incorporate/build a number of tasteful high end single family homes and/or condos on the property abutting the golf course while not compromising the courses history or design, thus creating additional profits from the acquisition while defraying the acquisition cost.[/B] The company also intends to maintain the current members of the board on an advisory basis; it is the intent of the company to increase membership back to the level that this property has once enjoyed, with the prestige and level of service equal to or beyond its history.

[B]"We are very excited with the Rosswood Country Club Boards approval of this acquisition as it opens a whole new stream of revenue and adds another significant real estate owned property to our portfolio, the number of profit centers involved with this property are extremely exciting, membership fees, wedding receptions, liquor and food sales, catering etc.[/B] The company will never compromise the integrity of this world class property, it is only our intent to restore and enhance its position in history. We expect to close and take possession of the property by year's end." said Wayne Burmaster, President IBAC Corporation.

"We are totally committed to the city of Pine Bluff and the community and we will continue to invest in quality properties in Arkansas" added Wayne Burmaster President IBAC Corporation

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Resort, Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: .