Videolocity International Inc (VCTY)

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Videolocity (VCTY) Identifies Buyer of its ASCC Subsidiary valued at $ 4.8 Million USD

Source: MMMG

HENDERSON, NEVADA--- January 3, 2011 Videolocity International, Inc. (PINK SHEETS:VCTY - News) (www.videointernationalcorp.com) names the purchaser of its subsidiary Avtar Singh Construction (ASCC). The buyer Evader, Inc. (EVDR) will pledge about 800 million shares as security in escrow in a complex transaction that will allow EVDR to securitize certain financing and debt to secure control of VCTY’ subsidiary ASCC. Avtar Singh Construction http://www.videointernationalcorp.com/ascc.php is one of the major developers in Chandigarh, India, with strong ties to the local community and municipal governments. ASCC owns a total of three different companies which run into various fields, namely roads and highways, real estate and leasing/financing, and offers revenues in the range of $5 million USD. ASCC has executed various projects of national importance in India, including construction of national highways.

“VCTY management acquired ASCC in October 2010 for a fraction of the sale price. ASCC was always a short hold for VCTY as it never fit the VCTY’ vision or profile. Now that we finally earned the current rank status with OTC Markets we are looking to focus on the core operations of our business and grow our business more organically or at least with a merger of other China based companies in our industry space. The ASCC purchase was a one off and it proved to be a great boom for VCTY said Mr Zhou Aixian Chairman of VCTY.

Right now VCTY is working out the logistics of the transfer of ASCC to its new owners and all the escrow accounts are being set up including coordination with both companies transfer agents.

Final definitive announcement will be made shortly by VCTY.