World Surveillance Group Inc (fka WSGI)

[rocky301]

Exemption,

"In connection with the issuance of certain of the securities to the Investors as set forth in Item 1.01, above, the Company relied on the exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended (the "Securities Act"). The Company believes that the investors are 'accredited investors', as such term is defined in Rule 501(a) promulgated under the Securities Act."


Section 4 -- Exempted Transactions
http://www.law.uc.edu/CCL/33Act/sec4.html

Release No. 33-4552
http://www.sec.gov/rules/final/33-4552.htm

Rule 501(a)
http://www.law.uc.edu/CCL/33ActRls/rule501.html