Polaris International Holdings, Inc. Has Announced Annual Report & Financial Statements for the 2010 Fiscal Year - Steadily Improved Cash Flow

LOS ANGELES, Jan. 26, 2011 /PRNewswire/ -- Polaris International Holdings, Inc. (Pink Sheets: PIHN) announced today that its Annual Report and unaudited consolidated financial statements for the 2010 fiscal year ended September 30, 2010 (all figures in U.S. dollars) have been released.

"The Company had steadily improved cash flow in the 2010 fiscal year. The acquisition of Staff IS Co., Ltd. and Polaris Technologies, Inc. brought great improvement to the operations of the Company," said Kuni Misawa, CEO/President of Polaris International Holdings, Inc. "Staff IS Co., our subsidiary in Japan, performed well for the 11 month period which ended September 30, 2010. Meanwhile, throughout the 2010 fiscal year, we continued to re-invest aggressively for future expansion. As a result, we have identified and entered into a LOI for the acquisition of a Southern California based IT services company. The parties plan to complete the closing in 2011 Q1. It will be subject to the satisfactory completion of the parties due diligence. We believe that this acquisition will significantly impact the Company's earnings and build a firm foundation for the global market base."

Summary of Financial Statements

Total Consolidated Revenue was $3,469,559. Total Consolidated Net Income (Loss) was ($43,865). The Operating Expenses included $212,676 for Business Development and $169,206 for Legal & Professional Fees.  Of these fees, the major portion was related to a legal dispute which has been resolved. There are no current, pending or threatened legal proceedings or administrative actions either by or against the Issuer.

In the 2011 fiscal year Legal and Professional Fees should be reduced as well as Business Development Fees. The Company anticipates that total operating expenses will be minimized.

Staff IS Co., Ltd. which began its operation as a subsidiary of the Company on November 1, 2009 performed well for 11 months, November 1, 2009, through September 30, 2010. Staff IS Co., Ltd. had $3,469,559 in revenues with $432,412 net income in 11 months. We expect that Staff IS Co. will continue to perform well and grow throughout the 2011 fiscal year.

In addition, the Company raised $453,558 through a private offering in the 2010 fiscal year.

Forecast

The acquisition of this Southern California based IT services company creates an organic growth opportunity for Polaris International Holdings, Inc. Staff IS Co., Ltd. and this Southern California based IT services company are expected to operate and grow symbiotically.

Management believes that in the 2011 fiscal year the Company will expand its operations and build a firm foundation to be a successful Global IT services company with several distinct markets.

Please see P.17 & P.18 "Summary of Year-to-Year Results of Operations (unaudited)" and "Year and Forecast" in the 2010 Annual Report released for more information.

About Polaris International Holdings, Inc.:

Polaris International Holdings, Inc., a Delaware corporation with offices in Huntington Beach and Los Angeles, California and in Tokyo, Japan is in the business of supplying services for Network Infrastructure, ASP and Cloud Computing Solutions. Its management team is composed of seasoned international business professionals with over 60 years of expertise in technology, media, entertainment and investment industries. POLARIS with both a U.S. and Japan market base is well positioned for the global evolution occurring in IT services and is meeting this evolution with its progressive collection of 'Cloud Solutions and Services' for its corporate Fortune 100 clients. POLARIS' near term plan is to build out its 'Global IT Services' through acquisitions and/or strategic partnerships. The Company is currently engaged in due diligence with several international businesses which, if successfully completed, will significantly expand its territory from Japan to include other rapidly growing Asian markets and North American markets. www.polaris-int.com

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially form the expected results.

SOURCE Polaris International Holdings, Inc.