WPCS Makes Final Payments on Previously Settled Liabilities

SUISUN, CA--(Marketwired - Jan 7, 2016) - WPCS International Incorporated (NASDAQ: WPCS), which specializes in contracting services for communications infrastructure, today announced that on December 15, 2015 and January 4, 2016, it made its final payments on two unrelated settlement agreements with Zurich American Insurance Co. and Kavveri Technologies America, Inc., respectively.

According to Sebastian Giordano, Interim CEO of WPCS, "In 2015, as part of our past restructuring efforts, we had negotiated the favorable settlements of these two matters for an aggregate sum of $900,000, while simultaneously reducing our then existing liabilities by approximately $1.1 million and avoiding the risk of any further potential liability. With these final payments, these debts are now fully eliminated from our balance sheet and our cash flow improves immediately."

ABOUT WPCS INTERNATIONAL INCORPORATED

WPCS provides low voltage communication contracting services to the public services, healthcare, energy and corporate enterprise markets in the United States. For more information, please visit www.wpcs.com.

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