WPCS Announces Several New Developments

WPCS Announces Several New Developments 
EXTON, PA -- (Marketwired) -- 12/31/13 --  WPCS International
Incorporated (NASDAQ: WPCS) today announced several operational and
corporate updates related to its contracting business, recent Bitcoin
acquisition and administrative matters as of December 31, 2013. 
According to Interim CEO Sebastian Giordano, "We believe that the
aggressive steps we began implementing in August 2013 and continue to
execute to stabilize and turnaround core operations, reduce corporate
overhead, and improve stockholders' equity are working. Meanwhile, we
will be equally diligent in establishing our newly acquired Bitcoin
operation to best position ourselves for growth in this sector." The
following are some of the recent developments the Company wants to
highlight as calendar 2013 comes to a close: 


 
--  Since last reporting new contracts for July and August 2013, the
    Company is announcing that for the four months ended December 31,
    2013, its two profitable domestic subsidiaries have executed new
    project contract awards of approximately $6.8 million, a 27% increase
    over the $5.4 million of contracts awarded for the same period last
    year. Notable customers included: Johnson Controls, Siemens,
    Honeywell, SimplexGrinell, San Francisco International Airport, Sutter
    General Hospital and California Pacific Medical Center;
    
    
--  The Company has initiated a search for a President for its Bitcoin
    trading platform, BTX Trader, LLC ("BTX"); secured office space for
    BTX in New York City; and is currently pursuing several key
    BTX-related strategic initiatives that it hopes to be able to report
    upon early in 2014. In addition, since announcing the public beta of
    its BTX trading platform, the Company has experienced a 600% increase
    in beta enrollments;
    
    
--  With its corporate office lease expiring on January 31, 2014, the
    Company will be relocating to a smaller, lower cost space, which will
    be accompanied by further reductions in related overhead expenses.
    Recently, the Company entered into a separation agreement with a
    former executive that it expects will save approximately $200,000 in
    future compensation expense; and
    
    
--  The Company has entered into a non-binding agreement with a business
    broker to find a buyer for the 60% interest in its China-based joint
    venture.

  
"We believe that WPCS is a company on the forefront of exciting change
and we are proactively pursuing numerous operational and strategic
measures to try to capitalize on the opportunities. Moreover, other
current initiatives include discussions with: (i) certain independent
public accounting firms, with client experience that includes
companies engaged in the type of next-generation technologies,
on-line payment systems, trading platforms, or similar industries as
BTX, and which we believe would be more appropriately suited for our
evolving business; (ii) investor relations firms that would help us
more effectively communicate our revitalized message to the investor
community; and (iii) specialized resources that will enhance our team
of expert advisors; the selections of which we expect will be
resolved shortly, in each of these areas," Giordano continued.  
In closing, Giordano added that, "We are very encouraged by the
improvements that have been made thus far and expect will continue to
be made to improve WPCS' balance sheet and profitability. We are
excited about Bitcoin and the potential offered by BTX to participate
in an evolving marketplace. Considering where we were just five
months ago before implementing our plans, we are very confident about
the future prospects for the Company and for building shareholder
value in 2014 and beyond." 
About WPCS International Incorporated: 
WPCS operates in two business segments including: (1) providing
communications infrastructure contracting services to the public
services, healthcare, energy and corporate enterprise markets
worldwide; and (2) developing a Bitcoin trading platform. For more
information, please visit www.wpcs.com and www.btxtrader.com. 
Statements about the company's future expectations, including future
revenue and earnings and all other statements in this press release,
other than historical facts, are "forward looking" statements and are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
involve risks and uncertainties and are subject to change at any
time. The company's actual results could differ materially from
expected results. In reflecting subsequent events or circumstances,
the company undertakes no obligation to update forward-looking
statements. 
CONTACT:  
WPCS International Incorporated
610-903-0400 x104
ir@wpcs.com