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Hitt og þetta 27. september 2006

Masterseek Acquisition of Indian Software Company

CALCUTTA, INDIA and COPENHAGEN, DENMARK -- (MARKET WIRE) -- September 27, 2006 -- Masterseek Corp is set to make a major and important acquisition of Indian-based "eDesign Corp" as part of a broad strategic alliance between the two companies. Under the buyout eDesign Corp. will change its name to "IQ Division" under the Masterseek subsidiary "IQ Division ApS," Copenhagen.

The move will immediately add seasoned resources to the Masterseek development team and will pave the way for significantly faster launch dates of a wide array of planned services. All future Masterseek developments within Web design, web-development and e-commerce will be handled by IQ Division.

"IQ Division (eDesign Corp) is a very interesting company where we can find a lot of synergies between the two companies, their employees and the levels of competences. This will give us access to expertise and work power which can only make a positive difference to our development of the search engine, our algorithms and the services we provide our audience," says Mr. Robert P. Perz, CEO Masterseek Corp.

By transferring the current Masterseek development team to IQ Division ApS the total headcount adds up to 25 very professional programmers and software developers.

"The timing is perfect -- as a company which is fully controlled and owned by Masterseek -- IQ Division is going to be a very solid cornerstone for our progress and development," Mr. Perz adds.

IQ Division will work fully scalable on Masterseek assignments and frees a lot of internal resources: "When it comes to recruitment we are able to provide IQ Division and Masterseek with highly competent people from India -- supported by Project Managers from Denmark," states Director of IQ Division India Mr. Gaurav Das.

As a country India is a hotbed of software programmers and IT specialists with extremely talented and motivated people ready and willing to make www.masterseek.com the primary tool for the B2B search engine market. Although only launched a few weeks ago the company is already the third largest B2B search engine on the worldwide web.


Masterseek Investor Relations: Tel. +45 38330038

Robert Perz CEO Masterseek Tel. +45 61775599

SOURCE: Masterseek

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