Vancouver, BC / TheNewswire / May 31, 2007 – BlackIce Enterprise Risk Management Inc. ('BlackIce') (CSE: BIS), has settled outstanding debts totaling $484,000 by the issuance of 9,680,000  common shares in its capital at a price of $0.05 per share.The shares contain the statutory four-month hold period from the date of issuance.

 

Two of the founders and key employees of BlackIce Enterprise Rick Management Inc.

Judy Kalyan and Zayn Kalyan, have set aside 10,000,000 of their founders shares as part of future pay packages and incentive to entice new senior executives to join the BlackIce team. Management is currently interviewing potential executives for the position of Director of Sales and a search is underway to fill other key executive positions.

 

About BlackIce Enterprise Risk Management Inc. (CSE: BIS)

 

BlackIce is a software technology and consulting firm, specializing in global enterprise risk management for the financial services industry. BlackIce software solutions are open platform applications that deliver end-to-end data and analytical standards that meet international regulatory reporting and monitoring requirements.

 

BlackIce Enterprise Risk Management Inc. is a publicly-traded company listed on the Canadian Stock Exchange (CSE); trading symbol BIS (C.BIS or BIS.cn). For more information about our companyplease visitwww.blackiceinc.com or phone us
at 1-604-510-4505.

 

BlackIce Enterprise Risk Management Inc.

Judy Kalyan

CEO Executive Chairman

 

Forward-Looking Information

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of BlackIce Enterprise Risk Management Inc. Such information is based on assumptions made by the company's management. Although the company believes these assumptions are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any obligation to update publicly any forward-looking information, other than as required by applicable securities laws.

The CSE has not reviewed, approved or disapproved the content of this press release.