BMS Holdings, Inc. Extends Exchange Offer

IRVINE, Calif., Sept. 16 /PRNewswire/ -- BMS Holdings, Inc. has extended its offer to exchange the currently outstanding Floating Rate Senior PIK Notes due 2012 (the "PIK Notes") for Common Stock and Warrants of Bankruptcy Management Solutions, Inc. to 5:00 P.M., New York City time, on September 28, 2010 as it works to finalize the required documentation.

Holders with over 80% of BMS' Floating Rate Senior PIK Notes due 2012 indicated a willingness to support the consensual debt-for-equity exchange on the material terms disclosed in the Private Offer and Consent Solicitation, dated August 17, 2010. As of September 15, 2010, PIK Notes with a face value of approximately $24 million have been deposited with the Exchange Agent pursuant to the offer to exchange.

THIS ANNOUNCEMENT IS NOT AN OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO SELL WITH RESPECT TO THE NOTES.  THE OFFER IS BEING MADE SOLELY BY THE PRIVATE OFFER AND CONSENT SOLICITATION, AS THE SAME MAY BE AMENDED OR SUPPLEMENTED.

Based in Irvine, Calif., BMS has consistently been the Industry's leading provider of bankruptcy case administration software and services since 1987. The Company's innovative end-to-end technology platform software and disbursement solutions support the administrative and legislative requirements of the majority of Chapter 7 Panel trustees, as well as a variety of other bankruptcy fiduciaries. BMS products are instrumental in automating and streamlining bankruptcy administration, making trustees and bankruptcy fiduciaries more productive and profitable.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws.  Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including failure to satisfy the conditions to the restructuring set forth in the Private Offer and Consent Solicitation and the ability to otherwise complete the restructuring.  Reference is hereby made to the "Forward-Looking Statements" section in the Private Offer and Consent Solicitation

SOURCE BMS Holdings, Inc.