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Viper Networks (VPER) Announces 49% LOI for Saudi Arabian Construction Company

^{Published on 2009-10-29 06:24:51 - Market Wire}
 

TROY, MI--(Marketwire - October 29, 2009) - Viper Networks, Inc. (PINKSHEETS: [ VPER ]), a global telecommunication network operations and technical management company, announced today that it has signed a Letter of Intent to acquire a 49% interest of a privately held, profitable construction company based in Saudi Arabia, for a combination of cash and stock.

Farid Shouekani, President of Viper Networks, commented: "As we continue to aggressively expand our telecommunications division, this acquisition not only provides the Company with a sizable investment in existing real estate and construction projects throughout the Middle East, but also provides us immediate access to a well established team of proven professionals to help bring our non-teleco related projects to fruition in the Company's emerging real estate, construction and energy divisions."

Mr. Shouekani continued, "This additional interest in high-quality properties in our core markets represents an excellent opportunity for Viper Networks to add value with a modest investment."

The Company anticipates completing due diligence, closing this acquisition and announcing the financial and other pertinent details within the next 45 days.

For information, visit [ www.vipernetworks.com ], or contact Rich Kaiser, Investor Relations (800) 631.8127 or e-mail [ info@vipernetworks.com ].

This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. These statements are based on information available to the Company as of the date hereof; and Viper Networks' actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business.