Kensington Leasing Signs LOI To Acquire Social Media Company, Wikifamilies

Kensington Leasing, Ltd. (OTCBB: KNSL) today announced that it has entered into a non-binding Letter of Intent to acquire Wikifamilies and Wikifamilies.com. Wikifamilies.com is an Internet-based social media property designed to be a leading collaborative web site.

The Letter of Intent contemplates Kensington Leasing acquiring all of the outstanding securities of Wikifamilies and Wikifamilies.com in exchange for the shareholders of Wikifamilies receiving an amount of common stock representing a controlling interest in Kensington Leasing. The transaction is subject to satisfactory completion of due diligence by Kensington Leasing and Wikifamilies, the execution of a definitive acquisition agreement approved by the Boards of Directors of Kensington Leasing and Wikifamilies, and other material conditions.

“Social networks represent a significant opportunity for those companies that know how to aggregate audiences, provide value to their users and monetize the interactions taking place,” said Angelique de Maison, CEO of Kensington Leasing. “We believe Wikifamilies and its experienced management team and software developers have the right combination to take advantage of the amazing growth in social media,” she added.

Social network usage rose sharply in 2009, thanks to the ever-increasing popularity of Facebook. eMarketer estimated that 57.5% of US Internet users, or 127 million people, would use a social network at least once a month in 2010. eMarketer predicts that by 2014, nearly two-thirds of all US Internet users, or 164.9 million people, will be regular users of social networks.

According to Research and Markets, an international market research firm, the online social networking market is emerging from an immature period of competitive dislocation to one of market maturity, in which clear user needs and platform value propositions have emerged, paving the way for incumbency, scalability and successful monetization.

FORWARD LOOKING STATEMENT: This press release contains forward-looking statements, including statements about the consummation and timing of the acquisition of Wikifamilies by Kensington Leasing, the business plan and prospective financial condition of Kensington Leasing. The forward-looking statements are subject to risks and uncertainties, including that the parties may not complete the transaction or that when completed, the transaction might be different than presently contemplated. Readers should not place undue reliance on the forward-looking statements. Neither Kensington Leasing nor Wikifamilies undertakes any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. In addition, any forward looking statements regarding forward expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: whether Kensington Leasing can successfully execute its operating plan; its ability to integrate acquired companies and technology; its ability to retain key employees; its ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; and whether Kensington Leasing can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.