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Advanced Visual Systems Enters Into Subscription Agreement for Issuance of New Shares

^{Published on 2009-10-30 13:10:30 - Market Wire}
 

WALTHAM, MA--(Marketwire - October 30, 2009) - Advanced Visual Systems Inc. ([ www.avs.com ]) (PINKSHEETS: [ AVSC ]) received, accepted and consummated a stock subscription on October 28, 2009 from an unrelated third party who is a non-US resident and an accredited investor, for the purchase of 500,000 shares of the company's Class A common stock at a price of $.50 per share paid in cash.

The proceeds will be used by AVS to fund its ongoing software development and sales operations.

The shares were issued in a private placement and the transfer meets the requirements for a transaction exempt from registration of the Securities Act of 1933 and Regulation D, Rule 506, promulgated by the Securities and Exchange Commission. The transaction has not been registered or qualified in any jurisdiction. Accordingly, the shares are restricted from further transfer and the certificate evidencing ownership of the shares will carry a legend stating that the shares have not been registered under the Securities Act and are restricted from transfer unless the shares are registered or the transfer meets the requirements for an exemption from registration.

About Advanced Visual Systems Inc.

Advanced Visual Systems Inc. (AVS) provides industry-leading, interactive data visualization software and solutions that help business, scientific and engineering users gain critical insight from all types of data. AVS's complete line of software products speed decision-making by bringing information to life using the latest in graphics, Web-based and interactive technologies on all major computing platforms.

For additional information visit [ www.avs.com ], call (781) 890-4300 or write [ info@avs.com ].

Copyright 2009 Advanced Visual Systems Inc. All rights reserved.