updated 9/19/2010 6:45:49 PM ET 2010-09-19T22:45:49

TORONTO, Sept. 17, 2010 (GLOBE NEWSWIRE) -- Degama Software Solutions, Inc. (Pink Sheets:DGMA) announces today that it has just signed another Letter of Intent with Absoluta Imóveis,a highly regarded Real Estate Brokerage firm in Rio Grande de Norte, a gorgeous coastline state in Northern Brazil -- this just weeks after a successful LOI to Contract with Brazcan, South America.

As predicted, the Agreement with Brazcan stimulated interest immediately from additional prospective clients in Brazil. As a result of this initial contract, Absoluta Imóveis has stated interest toward an expedited Agreement with Degama geolocation IP implementation into their Real Estate service model for enhanced offerings. Further, Absoluta has agreed to introduce Degama's IP to every real estate brokerage firm in the North East sector of Brazil, all of which have strategic relationships.

"This is very exciting development for us," states Degama CEO, Seijin Ki. "Only weeks after initial negotiations in Brazil, we have found additional success, which promises to be very good toward additional contracts in the Real Estate sector here. The initial contract here should prove to generate similar revenue models for us as a company. At $3-4m per year, this could easily lead to exponentially more as relationships continue to develop and additional IP applications are discovered and deployed."

According to PropertyWire, Brazil is positioned for a real estate boom based on its expanding middle class, along with the country fueling construction activity and setting reasonable limits on a rapidly growing mortgage market. Sound, rather than speculative, investment opportunities abound in Brazil with good demand projected into 2025 or beyond.

With interest rates plummeting into single figures in 2010, mortgage lending has risen by 77% during the first half of the year in comparison with 2009. As a result, the construction industry has outpaced GDP by growing 15% over the same period. But experts are adamant that this is not the onset of an unsustainable property bubble as the industry in Brazil is learning from mistakes made in the rest of the world.

Degama plans to release progress in the very near future in regards to the LOI along with additional company developments along the way.

About Degama Software Solutions, Inc.

Degama Software Solutions, Inc. is a leading edge technology company that develops and markets proprietary location based software solutions and applications for consumers and businesses. Degama Software Solutions, Inc. is a publicly listed company (Pink Sheets:DGMA)

Degama Software Solutions Inc., (Degama) markets and builds applications, or "apps" to make it simpler and more enjoyable for people to share information and get things done together. In a vast world Degama helps people navigate through their days and travels while at the same time staying connected to their friends, family and the world.

Degama is committed to developing and delivering the best products. As mobile devices become increasingly central to people's lives, we work hard to help you get the information you need when you are on the go. For more information about Degama Software Solutions, please visit www.degamasoftwaresolutions.com

Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

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