Sitoa Global Announces New Board Director

PALO ALTO, Calif., Dec. 13, 2011 /PRNewswire/ -- Sitoa Global Inc. (OTCQB:STOA) (the "Company"), an e-commerce facilitator, today announced that Mr. Dennis Schmal joined the company as an independent non-executive board director.

Dennis Schmal previously was a partner at Arthur Andersen, where he worked from 1972 through 1999, when he retired. As a senior business advisor with special focus in finance, he has extensive knowledge of financial reporting and holds a CPA. Schmal was responsible for leading hundreds of audits for a variety of enterprises over the past several decades. In addition to specializing in the financial services sector, with particular emphasis on commercial banking, securities/investment banking and asset management industries, Schmal has also headed hundreds of consulting projects, mainly for financial services firms. His projects included operations, capital planning, financial instruments, strategy, mergers & acquisitions, executive recruitment and initial public offerings. During the late 1990s, he shepherded two companies through IPOs. Since his retirement, he has continued to consult and lead finance seminars for a management development company, and he has been actively involved with a venture capital investment group. Schmal currently serves on the Board of Directors for Varian Semiconductor, Sempire Systems, Inc., Merriman Capital, and Boulder Capital Partners. Schmal holds a B.S. with summa cum laude honors in business administration with a focus on finance and accounting from California State University, Fresno.

George Yu, the Company's CFO, commented, "Dennis is a welcome addition to the Board. With his extensive experience in financial audit, corporate governance and capital markets, he will greatly assist in the guidance of the company."

"I've known the Company for a number of years now and believe that as a board member, I can bring my experience and oversight to help the company's growth and corporate governance efforts." said Schmal. 

ABOUT SITOA GLOBAL INC.
Sitoa Global provides an easy-to-use and comprehensive platform, the "Social Marketplace" that enables online retailers to deploy an e-commerce site to a targeted social community and 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 one-time integration and hosting fees. Additional information about Sitoa may be found on its website, http://www.sitoaglobal.com.

Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the continued growth of the e-commerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company and its subsidiaries; 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 (http://www.sec.gov). 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 statements.

Contact:
Investor Relations
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SOURCE Sitoa Global Inc.