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<P style="margin-top:6.35pt; margin-bottom:6.35pt; line-height:15.5pt; font-family:Arial Unicode MS; font-size:13.5pt"><B>Press Release</B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><I>SOURCE: Westsphere Asset Corporation, Inc.</I> </P>
<P style="margin:0pt; line-height:14pt; font-family:Arial; font-size:12pt"><B>Monday October 30, 2009</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Arial; font-size:11pt">PRESS RELEASE </P>
<P style="margin-top:6.85pt; margin-bottom:6.85pt; line-height:16pt; font-family:Arial; font-size:14pt"><B>Source: Westsphere Asset Corporation, Inc. (&#147;Westsphere&#148;)</B></P>
<P style="margin:0pt; line-height:18.5pt; font-family:Arial; font-size:11pt">Calgary Alberta, Canada <B>Westsphere Asset Corporation, Inc. today</B> announces the calling of a special meeting of the shareholders This meeting is scheduled to take place in Calgary, Alberta on the 12<SUP>th</SUP> day of December 2009 at #12, 3620 &#150; 29<SUP>th</SUP> Street N.E. at 11:00 AM.</P>
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<P style="margin:0pt; line-height:18.5pt; font-family:Arial; font-size:11pt">&#147;We are currently in the process of meeting with our legal and financial advisors in regards to the ongoing reorganization within the Westsphere Group of Companies in order to maintain our ability to meet our listing requirements with the SEC. &nbsp;These are challenging times for small cap companies particularly in regards to the internal control audit requirements which are scheduled for our 2010 annual filing period&#148; advises Doug Mac Donald, Westsphere&#146;s President and CEO. &nbsp;&#147;The management group and the Board have spent an inordinate amount of time and effort to get a reorganization that is both manageable and brings the most value to our shareholder owners. &nbsp;We are in the final stages and once we have the approved plan in place we will outline our plan prior to our special meeting. &nbsp;Please watch for updates on our website .&#148; &nbsp;</P>
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<P style="margin:0pt; line-height:13pt; font-family:Arial; font-size:11pt"><B>About Westsphere Asset Corporation</B></P>
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<P style="margin:0pt; font-family:Arial">Westsphere Asset Corporation, Inc. (WSHE) is a financial holding company in </P>
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<P style="margin:0pt; font-family:Arial">Canada. &nbsp;The Company has established a strong presence in the privately </P>
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<P style="margin:0pt; font-family:Arial">owned Canadian banking sector including Automated Banking Machines (ABM), </P>
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<P style="margin:0pt; font-family:Arial">Point of Sale Machines (POS), Online Computer Banking (OCB) and </P>
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<P style="margin:0pt; font-family:Arial">E-Commerce transaction security and payment. &nbsp;Westsphere maintains and </P>
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<P style="margin:0pt; font-family:Arial">services an ABM network across Canada and is a full participating member of </P>
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<P style="margin:0pt; font-family:Arial">the Canadian INTERAC Banking System with its Switch Processor Westsphere </P>
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<P style="margin:0pt; font-family:Arial">Systems Inc.</P>
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<P style="margin:0pt; line-height:13pt; font-family:Arial; font-size:11pt">Financial Profile:</P>
<P style="margin-top:3.45pt; margin-bottom:-14pt; text-indent:-18pt; line-height:14pt; font-family:Symbol">&#183;</P>
<P style="margin:0pt; font-family:Symbol"><FONT FACE="Arial">CAPITALIZATION: 75,000,000 COMMON SHARES WITH NO PAR VALUE </FONT></P>
<P style="margin-top:3.45pt; margin-bottom:-14pt; text-indent:-18pt; line-height:14pt; font-family:Symbol">&#183;</P>
<P style="margin:0pt; font-family:Symbol"><FONT FACE="Arial">SHARES ISSUED: Common- 591,726</FONT></P>
<P style="margin-top:3.45pt; margin-bottom:0pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:3.45pt; text-indent:72pt; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;: Voting Preferred- 1,417,118</P>
<P style="margin-top:3.45pt; margin-bottom:-14pt; text-indent:-18pt; line-height:14pt; font-family:Symbol">&#183;</P>
<P style="margin:0pt; font-family:Symbol"><FONT FACE="Arial">For further details, please refer to WSHE website </FONT></P>
<P style="margin-top:3.45pt; margin-bottom:-14pt; text-indent:-18pt; line-height:14pt; font-family:Symbol">&#183;</P>
<P style="margin:0pt; font-family:Symbol"><FONT FACE="Arial">WSHE Symbol OTCBB</FONT></P>
<P style="margin-top:3.45pt; margin-bottom:-14pt; text-indent:-18pt; line-height:14pt; font-family:Symbol"><B>&#183;</B></P>
<P style="margin:0pt; font-family:Symbol"><B></B><FONT FACE="Arial"><B>Transfer Agent:</B> Holladay Stock Transfer Inc.&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>
<P style="margin-top:3.45pt; margin-bottom:-14pt; text-indent:-18pt; line-height:14pt; font-family:Symbol">&#183;</P>
<P style="margin:0pt; font-family:Symbol"><FONT FACE="Arial">2939 North 67th Place&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>
<P style="margin-top:3.45pt; margin-bottom:-14pt; text-indent:-18pt; line-height:14pt; font-family:Symbol">&#183;</P>
<P style="margin:0pt; font-family:Symbol"><FONT FACE="Arial">Scottsdale, Arizona 85251 </FONT></P>
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<P style="margin:0pt; line-height:13pt; font-family:Arial; font-size:11pt">DISCLAIMER </P>
<P style="margin:0pt; font-family:Arial">Forward-Looking Statements: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and WSHE does not undertake an obligation to update forward-looking statements should conditions or management's estimates or opinions change.<FONT FACE="Arial Unicode MS"> </FONT></P>
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Converted by EDGARwiz
Press Release
SOURCE: Westsphere Asset Corporation, Inc.
Monday October 30, 2009
PRESS RELEASE
Source: Westsphere Asset Corporation, Inc. ("Westsphere")
Calgary Alberta, Canada
Westsphere Asset Corporation, Inc. today
announces the calling of a special meeting of the shareholders This meeting is scheduled to take place in Calgary, Alberta on the 12
th
day of December 2009 at #12, 3620 – 29
th
Street N.E. at 11:00 AM.
"We are currently in the process of meeting with our legal and financial advisors in regards to the ongoing reorganization within the Westsphere Group of Companies in order to maintain our ability to meet our listing requirements with the SEC.  These are challenging times for small cap companies particularly in regards to the internal control audit requirements which are scheduled for our 2010 annual filing period" advises Doug Mac Donald, Westsphere's President and CEO.  "The management group and the Board have spent an inordinate amount of time and effort to get a reorganization that is both manageable and brings the most value to our shareholder owners.  We are in the final stages and once we have the approved plan in place we will outline our plan prior to our special meeting.  Please watch for updates on our website ."
About Westsphere Asset Corporation
Westsphere Asset Corporation, Inc. (WSHE) is a financial holding company in
Canada.  The Company has established a strong presence in the privately
owned Canadian banking sector including Automated Banking Machines (ABM),
Point of Sale Machines (POS), Online Computer Banking (OCB) and
E-Commerce transaction security and payment.  Westsphere maintains and
services an ABM network across Canada and is a full participating member of
the Canadian INTERAC Banking System with its Switch Processor Westsphere
Systems Inc.
Financial Profile:
·
CAPITALIZATION: 75,000,000 COMMON SHARES WITH NO PAR VALUE
·
SHARES ISSUED: Common- 591,726
·
: Voting Preferred- 1,417,118
·
For further details, please refer to WSHE website
·
WSHE Symbol OTCBB
·
Transfer Agent:
Holladay Stock Transfer Inc.
·
2939 North 67th Place
·
Scottsdale, Arizona 85251
DISCLAIMER
Forward-Looking Statements: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and WSHE does not undertake an obligation to update forward-looking statements should conditions or management's estimates or opinions change.