International Consolidated Companies, Inc. Signs Letter of Intent to Acquire Shanxi Jingpeng Glassware Co. Ltd. With (Unaudited) USD $10 Million in Revenue, USD $1.2 Million Net Profit and USD $12 Million in Assets

International Consolidated Companies, Inc. (OTCBB: INCC) announced today that it has executed a Letter of Intent (LOI) to acquire Shanxi Jingpeng Glassware Co. Ltd. ( www.jpglassware.com ) located in Qixian Town, Shanxi, People's Republic of China.

Shanxi Jingpeng Glassware Co. Ltd. (SJG), started in 1991 by Jianguo Li, with 40 years experience in the hand-blown glass business, specializing in high-end wine glasses and tableware. SJG and Mr. Li bring with them 2,800 employees and an experienced management team with an established client base including Waterford Crystal, Lennox, Turnberry, Mikasa, Luigi Bormioli and many others.

In Mr. Li's estimation, pursuing the machine-made glass business will bring 30% net profit to sales already forecasted to be USD $30 million. And $70 million dollars with $9million and $21 million respectively in net profit after taxes, the years commencing implementation of the new machine-made lines.

http://www.lenox.com/cat/index.cfm?fuseaction=subcat&cat=din&subcat=crystal&flt=stem

http://www.waterford.com/collection/collection_connoisseur.asp

http://www.luigibormioli.com/

With a highly efficient production management system and streamlined organizational structure they have established an extensive distribution system.

Antonio F. Uccello, III, Chairman and CEO of International Consolidated Companies, Inc. (ICCI), stated, "Top producers of glass products are now moving their production facilities to China due to cost effectiveness of both raw materials and labor. This is a unique opportunity to use our management expertise, product knowledge and resources to establish Shanxi Jingpeng Glassware as a leader in this refined and exciting market."

2007 UNAUDITED REVENUE of USD $10 million and after tax profits of USD $1.2 million.

The UNAUDITED BALANCE SHEET has USD $12 million in assets with USD $1.2 million in Accounts Payable and Zero Long Term Debt.

Terms of the Acquisition will be announced following completion of due diligence, an audit and execution of a Definitive Acquisition Agreement.

ICCI is engaged in the acquisition, financing, and development of the expanding Asian markets. ICCI is focused on three dynamic areas: healthcare, technology and environment. Utilizing a unique evaluation and acquisition model, ICCI provides foreign companies an opportunity to gain access to U.S. capital markets. Retention for ICCI is a significant percentage of each aquired company, creating a diversified investment base with steady growth and long-term increase. Each target company reviewed for acquisition will meet specific criteria detailed in ICCI's acquisition model with proven commercial track records. Management is confident in the delivery of consistent, continued increase in shareholder value through accurate and high-minded diligence.

JPG's faith in the ICCI family displays the distinctive reputation that ICCI is rapidly gaining in China.

ICCI; attracting well managed, highly respected, quality International companies.

Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by International Consolidated Companies, Inc., (the "company"), as well as those contained herein, that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief, or current expectations, estimates, or projections of the company, its directors, or its officers about the company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the company's strategies regarding growth and business expansion, including future acquisitions; (b) the company's financing plans; (c) trends affecting the company's financial condition or results of operations; (d) the company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the company's ability to respond to changes in customer demand and regulations. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.

Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix, and the geographic mix of sales.