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Prime Star Announces IntelA-Pac Spinoff

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  Published in House and Home on Tuesday, December 1st 2009 at 10:25 GMT by Market Wire
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LAS VEGAS, NV--(Marketwire - December 1, 2009) - Prime Star Group, Inc. (OTCBB: [ PSGI ]) is pleased to announce that its IntelA-Pac business unit's registration statement and other necessary filings have been completed by its accounting and legal team and are being submitted to begin the formal spinoff of IntelA-Pac, Inc. (formerly New Age Packaging) from the Parent Company.

The shareholders of Record of Prime Star Group, Inc. as of the record date of July 15, 2009 will receive an equal number of shares of IntelA-Pac's common stock, with Prime Star retaining the remaining shares. As previously announced, the company completed the necessary financing for the spinoff transaction.

"This represents a major milestone on the road to launching IntelA-Pac as a separate public company," said Roger Mohlman, chief executive officer of Prime Star Group and IPAC. "We are focused on providing the products and services of the highest quality and look forward to enhancing long-term value to our future shareholders as an independent company and are extremely excited that after five years we can announce the this is happening."

PSGI and IntelA-Pac intend to post these materials to the Investor Relations portion of its website promptly after filing with the SEC as well as the status of the filings as the information is received.

No action is required by Prime Star Group shareholders as of the record date to receive their shares of the common stock of IntelA-Pac in the spinoff. For questions relating to the transfer or mechanics of the stock distribution, shareholders may contact Public Relations Dan Schall, (858) 240-7873 or on the web at [ www.PrimeStarGroup.net ]

About Prime Star Group

Prime Star Group, Inc. is a holding company that focuses on four areas of business: SmartPax™ Packaging, Premium Food & Beverage Products, Distribution, and Risk Management. The company's operating subsidiaries produce, market, and distribute wines, tea, adult mixed beverages, flavored water, and gourmet seafood products. The company also produces co-brand and co-pack existing high-end beverages and private label liquors for large hospitality and entertainment brands. Prime Star is focused on the food and beverage, entertainment, hospitality, risk management, healthcare and disaster relief industries.

About IntelA-Pac

IntelA-Pac, Inc. (formerly New Age Packaging, Inc.) manufactures, operates, leases, services and maintains equipment and supplies for the ever-growing flexible packaging market, both nationally and internationally.

Forward Looking Statements - Safe Harbor

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Prime Star Group, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Prime Star Group, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Prime Star Group, Inc.'s filings with the Securities and Exchange Commission.