Online Collection Company to File $12.5 million IPO

Debt Resolve, Inc., of White Plains, New York, announced today the filing of a Registration Statement on Form SB-2 for its initial public offering (IPO), and has applied to list its common stock for trading on the American Stock Exchange under the symbol DRV.

The offering, anticipated to take place in September or October 2006, contemplates raising approximately $12.5 million from the sale of 2.5 million shares of common stock at an anticipated initial public offering price of $5 per share.

DebtResolve completed a $3.5 million interim note and warrant financing in June 2006. These securities have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Chairman and CEO of DebtResolve James D. Burchetta stated, ?The closing of the private financing and our forthcoming IPO will allow DebtResolve to capitalize on the momentum we have gained in building a market for online collection services.?

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the shares of common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such state.