International Development and Environmental Holdings Signs Letters of Intent to Acquire Five Manhattan Parking Facilities

Company to Acquire New York City-based Parking Garages With Annual
Revenues of Approximately $3 Million
International Development & Environmental Holdings, an emerging leader in professional parking management, today announced that the Company executed Letters of Intent to acquire five Manhattan parking garages with annual revenues of approximately $3 million anticipated in 2011.

The acquisitions are structured as an assignment of parking management agreements held by single purpose limited liability companies owned by Scott Lieberman, President of the Company. Each of the acquisitions is subject to several conditions include the execution of a definitive agreement, consents to the transaction, an independent appraisal of the value of the parking facility and a due diligence review. The Company intends to close the acquisitions simultaneously. The purchase price for each parking facility will be based upon an independent third party appraisal.

I am thoroughly confident in IDEHs business model and growth strategy. It is for this reason that I believe selling my own garages to the Company will be of significant benefit to the shareholders. Additionally, it is my belief that this major leap forward will attract a number of other owners in the NYC-Metropolitan area, thus providing our shareholders with long term value, stated Scott Lieberman.

About International Development & Environmental Holdings

international development and environmental holdings.jpgInternational Development & Environmental Holdings entered the professional parking management and car, van and truck leasing sectors. 
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International Development and Environmental Holdings
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parkmyauto.com/
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