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Ivrnet signs letter of intent to acquire NeatWorx, a software provider of registration and payment solutions to sports clubs and associations
[February 21, 2012]

Ivrnet signs letter of intent to acquire NeatWorx, a software provider of registration and payment solutions to sports clubs and associations

(Canada Newswire Via Acquire Media NewsEdge) Proprietary software seen as complementary to ITSportsNet brand CALGARY, Feb. 21, 2012 /CNW/ - Ivrnet Inc. ("Ivrnet") (TSX-V: IVI)is pleased to announce that it has signed a letter of intent to acquire NeatWorx Web Solutions Inc. ("NeatWorx"), a privately held company whose proprietary software delivers web-based content management, registration, administration and payment solutions to sports clubs and associations throughout North America.

"We believe NeatWorx will enhance the product, service and sales offerings of ITSportsNet, the North American leader in online sports administration, whom we acquired last year," explains David Snell, President & CEO, Ivrnet. "We are optimistic that by adding some of NeatWorx's online features such as camp registrations, birthday bookings and recreational class registrations to ITSportsNet's total product offerings, we will appeal a much broader customer base.  As well, NeatWorx's market presence in the United States parallels our strategic growth plans for the ITSportsNet brand." Gord Sissons, founder of NeatWorx adds, "Ivrnet shares our passion and our values. It also opens up a range of new and exciting opportunities for our customers, and makes possible a broader range of services and capabilities than we could ever hope to deliver on our own." About NeatWorx NeatWorx is a Canadian leader in web-based content management, registration and payment solutions focused on associations and sporting clubs. On the strength of their club level registration solution, NeatWorx has been endorsed as a preferred website and registration provider by both Gymnastics Ontario and Gymnastics British Columbia.

NeatWorx also has a significant market presence among Canadian and U.S.

based federal and state level associations as well as private businesses. More information about NeatWorx is available at About ITSportsNet A division of Ivrnet Inc., ITSportsNet is the North American leader in online sports administration.  We provide cutting edge sports administration software products that simplify and manage processes including registration, scheduling and website content. Our online sports registration and league management software tools save sports administration teams time, money and manpower. About Ivrnet Inc.

Ivrnet is a Software as a Service (SaaS) provider whose in-depth knowledge of voice and data applications enables it to be a valuable asset to business. Ivrnet's on demand software solutions improve business communications and drive revenue while saving time, reducing costs and enhancing a company's bottom line. We perform in virtually every industry sector. Our software technologies are also strategically designed to help businesses strengthen customer relationships and promote loyalty 24/7/365. Forward Looking Information This news release contains certain forward-looking information ("forward-looking information") within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "expect", "may", "will", "project", "should" or similar words suggesting future outcomes. In particular, this press release includes forward-looking information relating to the anticipated benefits of the ITSportsNet acquisition. Ivrnet believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.

Forward-looking information is based on various assumptions. Those assumptions are based on information currently available to Ivrnet.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Ivrnet's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking information. Except as required by law, Ivrnet assumes no obligation to publicly update or revise any forward-looking information made as of the date hereof with new information, subsequent or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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