Business Combination Transaction between PureSpectrum, Inc. and International Medical Staffing, Inc. Nearing Completion

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Thu Oct 29, 2009 9:00am EDT

Record date for share exchange established as November 3 - current PSPM
shareholders will hold free trading shares of successor entity following share
exchange


SAVANNAH, Ga.--(Business Wire)--
The business combination between PureSpectrum, Inc. (Pink Sheets: PSPM) and
International Medical Staffing, Inc. (OTCBB: IMSG) as reflected in the Agreement
of Purchase and Sale and Plan of Reorganization entered into earlier this year
by the two companies is almost complete. 

The transaction is currently scheduled to close on November 3, at which time
IMSG will change its name to PureSpectrum. The close of the transaction will
trigger the initiation of a share exchange for current PureSpectrum
shareholders, and the issuance of replacement notes, debentures and warrants to
current holders of PureSpectrum notes, debenture and warrants. Following the
closing of the combination transaction, current PureSpectrum will commence
dissolution proceedings. 

At closing, the assets of PureSpectrum will be transferred to IMSG and current
PureSpectrum shareholders will be eligible to exchange their shares for
registered shares in IMSG which will change its name to PureSpectrum. The record
date for participation in the share exchange will be the close of business on
November 4. Trading of current PureSpectrum stock should not occur after market
close on November 4. Shares of current PureSpectrum stock acquired after
November 4 will not be eligible for participation in the share exchange. Once
the name change is effective, it is anticipated that the Financial Industry
Regulatory Authority (FINRA) will clear the registered shares in "new"
PureSpectrum for trading on the OTC Bulletin Board on November 3. 

It is anticipated that PureSpectrum`s existing transfer agent, Transfer Online,
will issue transmittal letters to PureSpectrum shareholders on November 4 or
November 5 providing direction for PureSpectrum shareholders to exchange
PureSpectrum shares for registered shares of the "new" PureSpectrum. 

PureSpectrum president and CEO Lee Vanatta said he believes the successful
completion of the business combination and the company`s enhanced visibility as
a fully reporting company on a national stock exchange could enable the company
to augment and expedite the company`s efforts in other areas. Vanatta also said
the conclusion of the process which the company believes will eventually
materially enhance shareholder value will also permit the company`s management
to focus on achieving important objectives in core business areas such as
product development, engineering, sales and marketing. 

"This business combination represents the successful completion of an enormous
amount of work done by the company`s management and our legal team as well as
the accomplishment of a critical corporate objective that we pledged to our
shareholders we would accomplish this year," said PureSpectrum president and CEO
Lee Vanatta. "Most importantly, as a result of the successful completion of this
transaction we have potentially given the company the tools and resources it
needs to increase the possibility of reaching additional corporate objectives
such as a large scale product launch and international sales and marketing
campaigns." 

Through the business combination with IMSG, PureSpectrum hopes to facilitate the
accomplishment of several important corporate objectives: improving and
enhancing the status of the company`s common stock, achieving fully reporting
status, creating additional transparency, building the company`s credibility
with all audiences and constituencies, providing greater liquidity for the
company`s shareholders and providing the company access to new capital markets. 

"The completion of this transaction and trading on the OTC Bulletin Board
potentially could have multiple benefits for PureSpectrum and its shareholders,"
said David Michael Conner, general counsel for PureSpectrum and a member of
PureSpectrum`s board of directors. "We believe this strategy will serve the
needs of the company and will facilitate the company`s ability to achieve its
goals." 

Call (912) 961-4980 for more information about PureSpectrum or visit
www.purespectrumlighting.com to watch a video demonstrating the performance of
PureSpectrum`s 20-watt dimmable CFL compared to a brand name dimmable CFL. 

ABOUT PURESPECTRUM

PureSpectrum, Inc. is a technology-driven lighting company headquartered in
Savannah, Ga., that is striving to develop performance based technology
solutions for energy efficient lighting in multiple categories. The company`s
mission is grounded in the quest to preserve natural resources and a belief that
energy efficient lighting will be embraced and absorbed through improved
performance. PureSpectrum is designing technology and products that enable
energy conservation and improved performance without increased cost or confusion
for the consumer. PureSpectrum plans to continue its commitment to researching
and developing technologies and products that satisfy consumer demand and
advance the cause of energy conservation. Please call (912) 961-4980 or visit
www.purespectrumlighting.com for more information on PureSpectrum.

Certain statements contained in this news release regarding matters that are not
historical facts may be forward-looking statements.Because such forward-looking
statements include risks and uncertainties, actual results may differ materially
from those expressed in or implied by such forward-looking statements.Factors
that could cause actual results to differ materially include, but are not
limited to, uncertainties pertaining to continued market acceptance for
PureSpectrum's products and services, its ability to succeed in growing revenue,
the effect of new competitors in its market, integration of acquired businesses,
and other risk factors identified from time to time by PureSpectrum. For
additional information concerning risk factors, please refer to the securities
filings at http://www.otcbb.com/asp/Info_Center.asp

PureSpectrum, Inc.
Stephen Weeks, 912-484-9743
sweeks@purespectrumlighting.com



Copyright Business Wire 2009

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