CHALFONT, Pa., Aug. 21 /PRNewswire-FirstCall/ -- E-procurement management company ClearPoint Business Resources, Inc. (OTC Bulletin Board: CPBR) has announced today that it successfully renegotiated the terms of its credit facility with ComVest Capital, LLC. ClearPoint has reached an agreement with its lender related to a $10.5 million revolving credit facility, which enabled the company to refinance outstanding loan balances. The company intends to use the remaining availability under the revolving credit loan for working capital and other general corporate purposes, including the enhanced version 5.0 of its portal, iLabor 5.0, which went live on April 1, 2009 and may serve as the number-one point-of-entry into North America's largest, most competitive marketplace for buying and selling temporary labor.

"We believe that this revised commitment from ComVest will provide us the liquidity we need at this particular phase of our operations where we see adoption and accelerating acceptance of iLabor across multiple vertical market segments we service" said Michael Traina, ClearPoint's CEO. "We believe this revised facility will provide the necessary funding for us to scale the business to meet the demands in the market into 2010 for more efficient buying and selling of temporary labor."

About ClearPoint

ClearPoint Business Resources, Inc. offers services focused on assisting clients in managing their transactional labor needs. ClearPoint's iLabor, a technology-based e-procurement platform, provides its clients with a comprehensive web-based portal to streamline the process involved in the hiring and management of temporary labor.

iLabor is the most recent technological evolution in the staffing industry. As the number-one point-of-entry into one of North America's largest, most competitive market for buying and selling transactional labor, iLabor provides high-quality labor at low costs, giving small companies big buying power. The first-in-class technology built into the iLabor portal makes it easy for clients to source, track, manage and retain their transactional labor all on one simple screen.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. ClearPoint's forward-looking statements include, but are not limited to, statements regarding ClearPoint's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this press release are not guarantees of future performance and are based on ClearPoint's current assumptions, estimates, forecasts, expectations and beliefs concerning ClearPoint's business and their potential effects on ClearPoint and speak only as of the date of such statement. ClearPoint has no plans to update its forward-looking statements to reflect events or circumstances after the date of this press release. There can be no assurance that future developments affecting ClearPoint will be those that it has anticipated. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond ClearPoint's control) that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following factors: ClearPoint's ability to continue as a going concern, obtain additional financing and restructure existing debt obligations; ClearPoint's ability to service and repay outstanding debt obligations; limitations that ClearPoint's outstanding debt obligations impose on cash flow available for operations; ClearPoint's ability to facilitate the market acceptance of the iLabor Network and increase revenues; and the effect of the current economic downturn.

The foregoing risks are not exhaustive. The risk factors set forth in ClearPoint's most recent Annual Report on Form 10-K and subsequent Current Reports on Form 10-Q filed with the SEC include additional risk factors which could impact ClearPoint's business and financial performance. Should one or more of these risks or uncertainties materialize, or should any of ClearPoint's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You should not place undue reliance on forward-looking statements.

For more information on ClearPoint, visit http://www.clear-point.com.


        Contact Information:
        Jack Phillips, CFO
        ClearPoint Business Resources, Inc.
        1600 Manor Drive, Suite 110
        Chalfont, PA  18914
        215-997-7710

SOURCE ClearPoint Business Resources, Inc.