Rapid announces staff reductions



    CALGARY, Aug. 3 /CNW/ - Rapid Solutions Corporation (TSX-V: RPD) provides
a proven solution to industrial facilities by delivering operating procedures
and safe operating conditions to the point of need.
    Rapid today announced that in light of the current economic conditions it
has taken actions to lay off substantially all of its staff and contract
professional service providers. Rapid will maintain a core set of resources to
manage client matters. The length of the lay off period is indeterminate.

    About Rapid Solutions

    Rapid Solutions Corporation is focused on providing integrated data
management solutions to upstream energy producers and other high risk and
process intensive industries. Through considerable experience gained in data
integration, Rapid offers technology based solutions that manage and integrate
vast quantities of data and information for clients seeking data integration
solutions. Process and Safety Management clients are seeking integrated
solutions to address operational procedures, safe operating limits and
maintenance systems. Through its Canadian operating unit, Rapid offers the
upstream energy sector a similar opportunity to achieve master well list
integrity.

    
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.
    

    Forward Looking Information

    This press release may contain forward-looking statements which may
include estimates, plans, expectations, opinions, forecasts, projections,
guidance or other statements that are not statements of fact; including
without limiting the generality of the foregoing, statements made by the Chief
Executive Officer. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, it cannot give
any assurance that such expectations will prove to be correct. Results of
Rapid may be affected by a variety of variables and risks associated with the
software and technology services industry such as loss of market, competition
from other software and technology and service providers, ability to access
sufficient debt and equity capital from internal and external sources, ability
to expand in the marketplace and to maintain present clientele, ability to
generate sufficient cash flow from operations to meet current and future
obligations and risks associated with potential future lawsuits and regulatory
actions made against the Company. Rapid's business is focused principally on
the oil and gas and chemical industries and is therefore subject to all of the
risks associated with such industries, including the highly cyclical nature of
its economic returns. Forward-looking statements are subject to certain risks
and uncertainties and may be based on assumptions that could cause actual
results to differ materially from those anticipated or implied in such
statements. The Company's forward-looking statements are expressly qualified
in their entirety by this cautionary statement. Unless otherwise required by
applicable securities laws, the Company does not intend nor does it undertake
any obligation to update or review any forward-looking statements to reflect
subsequent information, events, results or circumstances or otherwise.

    For information on Rapid go to www.rapid.com.





For further information:

For further information: Michael Jones, President and CEO, Rapid
Solutions Corporation, Telephone: (713) 996-7979 or (403) 451-3105

Organization Profile

RAPID SOLUTIONS CORPORATION

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