IceWEB and Promark Terminate Merger Agreement

On December 6, 2011, IceWEB, Inc., United Strategies, Inc., Promark Technology, Inc., a Maryland corporation and wholly-owned subsidiary of United Strategies Inc. entered into a termination agreement, pursuant to which the IceWeb and USI mutually agreed to terminate the definitive merger agreement dated March 4, 2011.

Pursuant to the termination agreement, IceWEB and USI agreed, among other things, that (i) the merger agreement is terminated with immediate effect, (ii) the IceWEB and USI have no further rights or obligations, other than as provided for in the termination agreement, towards each other under or in relation to the merger agreement.

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IceWEB and Promark Completes Merger Agreement
Announced on March 7