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ASHEVILLE, NC--(MARKET WIRE)--Feb 21, 2006 -- Homeland Integrated Security Systems, Inc. (HISC.PK) is pleased to announce that they have signed a letter of intent to merge with a NASDAQ Bulletin Board company. According to the letter of intent, the due diligence period will be concluded in the next 20 days, with the merger of certain Homeland assets thereafter.
Upon the merger with the NASDAQ Bulletin Board company, Homeland Integrated Security Systems intends to issue a stock dividend of the new Bulletin Board Company to all shareholders of record of Homeland Integrated Security Systems Inc. Based upon the existing timetable, the Company intends to establish a record date for the dividend which will be offered to shareholders by April 14.