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Debt Resolve, Inc. (AMEX: DRV), announced today that the Company has filed an 8-K with the Securities and Exchange Commission to discuss the current state of the company�s financing with respect to the pending acquisition of Creditors Interchange (Credint Holdings Inc.). The filing discloses that the Company has entered into an agreement with Creditors Interchange (Credint Holdings Inc.) to extend the closing date of the transaction to August 31, 2007, and that the Company has secured acceptable term sheets for up to $40 million in debt financing, including $25 million in senior debt and $15 million in mezzanine debt, which does not include an equity component. The Company expects the acquisition to close by August 31, 2007, subject to, among other things, shareholder approval of the acquisition and securing satisfactory financing relating to the acquisition. The Company is presently negotiating with various institutional accredited investors and awaiting term sheets for the equity portion of the financing. The Company anticipates that the term sheets will be received in sufficient time and on acceptable terms in order to close the transaction by August 31, 2007. About Debt Resolve, Inc. Debt Resolve provides lenders, collection agencies, debt buyers and utilities with a patented online bidding system for the resolution and settlement of consumer debt and a collections and skip tracing solution that is effective at every stage of collection and recovery. Through its subsidiary, DRV Capital, LLC, the company is actively engaged in the purchase and collections of distressed accounts receivable using its own collections solutions. Through its subsidiary, First Performance Corp., the company is actively engaged in operating a collection agency for the benefit of its clients, which include banks, finance companies and purchasers of distressed accounts receivable. The stock of Debt Resolve is traded on the American Stock Exchange. Debt Resolve is headquartered in White Plains, New York. For more information, please visit our website at www.debtresolve.com. Forward-Looking Statements and Disclaimer Certain statements in this press release and elsewhere by management of the company that are neither reported financial results nor other historical information are �forward-looking statements� within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of the company�s operations, or the performance or achievements of the company, or industry results, to differ materially from those expressed or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere in this press release, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied by the forward-looking statements include, but are not limited to, events or circumstances which affect the ability of Debt Resolve to realize improvements in operating earnings expected from the acquisition of First Performance and the contemplated acquisition of Creditors Interchange; competitive pricing for the company�s products and services; fluctuations in demand for the company�s products or services; changes to economic growth in the United States and international economies; government policies and regulations, including, but not limited to those affecting the collection of consumer debt; adverse results in current or future litigation; currency movements; and other risk factors discussed in the company�s Annual Report on Form 10-KSB for the year ended December 31, 2006, and in other filings made from time to time with the SEC. Debt Resolve undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are advised, however, to consult any further disclosures made on related subjects in the company�s reports filed with the SEC.