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InternetArray, Inc.: InternetArray Contemplates Noobis Spin-Off as Fully-Reporting Company

^{Published on 2009-06-10 06:27:17, Last Modified on 2009-06-10 06:27:51 - Market Wire}
 

NEW YORK, NY--(Marketwire - June 10, 2009) - InternetArray, Inc. (PINKSHEETS: [ INAR ]) announced today that it is considering a possible spin-off of its subsidiary, Noobis, Inc., into a fully-reporting company listed on the Over-the Counter Bulletin Board ("OTCBB"). As part of an overall plan, Noobis common stock owned by InternetArray would be distributed to InternetArray shareholders effective upon obtaining an OTCBB listing.

The potential spin-off is consistent with InternetArray's business plan to create, acquire, develop -- and when appropriate -- spin-off innovative internet technology businesses. The quick and expansive growth of the Social Networking market indicates to management that a spin-off of Noobis will enhance the value of its technology and its revenue generating potential. As an independent fully reporting public company, Noobis can receive concentrated attention in the Social Media market and from the investment community.

About InternetArray, Inc. ([ www.internetarray.com ])

InternetArray, Inc. provides guidance and investment for innovative, early stage Internet companies. The Company's mission is to identify and develop collaborative business partners into viable and profitable companies.

About Noobis, Inc. ([ www.noobis.com ])

Noobis, Inc. develops and integrates social media applications and networks. In addition to building its own Internet assets and technologies, Noobis works with clients and partners to leverage the emerging social media marketplace.

This press release may contain certain statements that are not descriptions of historical information, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These forward-looking statements refer to matters that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.