Sitoa Global Signs Letter of Intent with IRIS Corporation Berhad

       Sitoa Global Signs Letter of Intent with IRIS Corporation Berhad

PR Newswire

HONG KONG, March 18, 2013

HONG KONG, March 18, 2013 /PRNewswire/ --Sitoa Global Inc. (OTCQB: STOA)
("Sitoa" or the "Company"), announced today that it entered into a Letter of
Intent with IRIS Corporation Berhad ("IRIS"), a leading, diversified,
technology company, listed on the Malaysian Stock Exchange and the owner of
certain selected waste-to-energy assets; and other Renewable Energy and waste
to energy "Pipeline Project" assets, owned by third-party owners and with whom
IRIS will secure appropriate agreements to these projects, technologies,
rights and obligations (the "IRIS Renewable Energy Business") in respect of a
proposed transaction in which Sitoa will purchase IRIS Renewable Energy Asset
plus waste-to-energy assets owned by other third parties in exchange for
common shares in Sitoa. On completion of the acquisitions, IRIS will become
the majority shareholder of Sitoa as a result of the share exchange and Sitoa
will pursue the development of the acquired renewable energy business in
accordance with IRIS's business plan. The terms of the acquisition will be
more particularly set forth in the Definitive Agreements to be mutually agreed
upon by the Parties and the acquisition expects to be completed by the end of
the Second Quarter, 2013.

IRIS and Sitoa, both of which are technology companies, identified the
Waste-To-Energy and Renewable Energy businesses as a growing and timely
priority and thus appropriate to be acquired by Sitoa because they could
potentially achieve an attractive valuation on a U.S. Stock exchange, enhance
shareholder value, attract growth capital and expand its business.

About IRIS Corporation Berhad

Iris Corporation is a leading, diversified, technology company, listed on the
Malaysian Stock Exchange and with an annual turnover of over US$ 150 million.
The IRIS group represents over a decade of innovations in the fields of
information and communication technologies; manufacturing and security
solutions. IRIS brings a global proven track record in the areas of digital
identity. IRIS Corporation Berhad, together with its subsidiaries, engages in
the implementation of digital identity and business solutions in Malaysia and
in over 25 other countries. IRIS' portfolio covers new innovations in the
fields of energy efficient homes, sustainable farming, renewable energy and
environmental solutions.

About Sitoa Global Inc.

Sitoa Global provides an easy-to-use and comprehensive platform, the "Focused
Social Marketplace" that enables online retailers to deploy a social
marketplace e-commerce site. Sitoa's platform allows building marketplaces
for online sellers with focused social customer networks to expand their sales
channels without the risks of focus dilution, and increased capital and
operating costs. Sitoa shares in revenues generated by the site in addition
to charging integration and hosting fees. Additional information about Sitoa
may be found on its website,

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the
business of the Company. All statements, other than statements of historical
fact included herein are "forward-looking statements" including statements
regarding: the ability of the Company to consummate an acquisition of the IRIS
Renewable Energy Business; the business prospects and financial performance of
the IRIS Renewable Energy Business; the ability of the Company to successfully
develop the IRIS Renewable Energy Business and execute its business plan; the
business strategy, plans, and objectives of the Company; and any other
statements of non-historical information. These forward-looking statements are
often identified by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions and involve known and unknown risks and
uncertainties. Although the Company believes that the expectations reflected
in these forward-looking statements are reasonable, they do involve
assumptions, risks, and uncertainties, and these expectations may prove to be
incorrect. Investors should not place undue reliance on these forward-looking
statements, which speak only as of the date of this news release. The
Company's actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that are filed
with the Securities and Exchange Commission and available on its website
( All forward-looking statements attributable to the
Company or persons acting on its behalf are expressly qualified in their
entirety by these factors. Other than as required under the securities laws,
the Company does not assume any duty to update these forward-looking


Investor Relations

SOURCE Sitoa Global Inc.

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