Corona del Mar, CA - (WORLD STOCK WIRE) - November 11, 2008 -- ICC Worldwide, Inc. (OTC Pink Sheets: ICCW) today announced that its wholly-owned subsidiary, ICC Italy, S.r.l. has agreed to sell all of its remaining retail stores to Mondobello S.a.s., an Italian limited partnership whose principals are experienced in the local retail market for immigrant workers. Included in the sale are all of the assets of ICC Italy’s four remaining retail stores; three of which are in the city of Ravenna in the Emilia-Romagna region, while the remaining store is in the city of Trescore in the Lombardia region.
Terms of the agreement call for an aggregate purchase price of €195,000 (US$250,000) including interest. A substantial initial payment is scheduled to be received by ICC Italy before the end of November. The balance will be paid in 48 payments beginning in January, 2009. ICC Worldwide expects to file a formal 8K which fully details the terms of this agreement once the initial payment has been received in full. ICC Worldwide does not expect to incur any material costs as a result of the sale. All store employees are being hired by Mondobello S.a.s. and all the facility leases are being re-written by the respective landlords in favor of Mondobello S.a.s.
ICC’s President & CEO, Rich Lauer stated, “Our Italian strategy has always been focused on serving the 30 million strong immigrant worker market in Europe. This is a very large segment and the individuals in this market possess surprising amounts of disposable income. The business plan created by our original Italian management team included retail and wholesale business units, as well as distribution of ethnic foods, entertainment, and communications products. In order to further improve shareholder returns, we have refined this plan to focus on the telecommunications portion of the immigrant worker market which is extremely large, generally underserved, and is expandable to include other countries in Western Europe.”
Lauer continued, “With the sale of our remaining retail locations, ICC’s distribution is now totally implemented under a wholesale delivery model. These changes allow ICC to operate with dramatically less overhead, much greater agility, and to offer a suite of highly advanced products through an existing channel of 2,500 independent Italian call shop retailers—all of which are dedicated to serving the immigrant market. We are aggressively building a technology-based business with excellent communications products; substantial margins; and reduced capital needs for inventory, staff, and infrastructure. With these changes in place, ICC is now positioned to create a highly successful venture. In doing so, we expect to continue to deliver significant value to our investors and shareholders in the coming quarters.”
About ICC Worldwide:
ICC Worldwide, Inc. (Pink Sheets: ICCW.PK) provides a specialized range of communications services and products to the diverse immigrant worker communities in Italy through a rapidly growing network of wholesale and retail distribution channels. The firm’s principal operating units are located in Italy; while ICC’s U.S. headquarters is based in the Southern California community of Corona del Mar.
Forward-Looking Statements:
This press release contains statements, which may constitute "forward-looking statements" within the meaning of various Federal securities laws. Those statements may include remarks regarding the intent, belief or current expectations of ICC Worldwide, Inc., as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements.
For Investor Inquiries:
Please visit the company's website: www.iccww.com, or email: info@iccww.com
Trading Symbol: ICCW.PK
ICC Worldwide is a Trademark of ICC Worldwide, Inc.
All other trademarks and registered trademarks are properties of their respective owners.
Richard K. Lauer, President, CEO
ICC Worldwide, Inc.
3334 East Coast Highway
#424
Corona del Mar, CA 92625
USA
Phone: 949-200-7569
Fax: 949-612-0201
Source: ICC Worldwide, Inc.
Note: The following press release was submitted by: ICC Worldwide, Inc., and World Stock Wire, Inc. is not liable for the contents of this press release. | 
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