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I.Q. Webquest Receives Commitment to Provide Equity Capital

Posted on: Monday, 20 November 2006, 09:00 CST

FT. LAUDERDALE, Fla., Nov. 20 /PRNewswire-FirstCall/ -- I.Q. Webquest Inc., (OTC.PK: IQWB) announced that it has received a commitment to provide up to ten million dollars in equity capital from Occidental Plaza Group, a private equity fund.

Juan Torres, President of Occidental explained, "The market for Internet dating is growing, with estimates of over a half a billion ($500,000,000) dollars in annual revenues, according to Jupiter Research. We believe that specialized sites with strong management of relationships with users, especially focused on specialty market niches, and combining online with offline events, will grow as the market begins consolidation. We will provide base level funding to allow I.Q. Webquest to expand http://www.theultimatedatingsite.com/ and esociallife offerings, as well as to look into possible acquisition of small member bases serving niche groups."

Arnie Fox, President of I.Q. Webquest added, "we are meeting our internal milestones for growth in users, conversion from banner and site referral, and member turnover. We feel that our site navigation, tools and innovative marketing programs will enable us to build our member base with a reasonable acquisition cost. This commitment from Occidental ensures our ability to build a strong presence over the next year."

About I.Q. Webquest:

I.Q. Webquest strives to become a leader in the social networking industry through a diverse portfolio of websites currently under development. The Company will build revenue primarily through advertising and membership sales.

I.Q. Webquest Inc

CONTACT: I.Q. Webquest Inc., +1-954-495-9522, or fax, +1-954-337-2919

Web site: http://www.iqwebquest.com/http://www.theultimatedatingsite.com/

Source: PRNewswire-FirstCall

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