Ciao Group, Inc. (CIAU) Announces Plans To Update Financial Reports In January To Reflect Financial Performance of Telecom Company Acquired in April 2014

DALLAS, TX, United States, via ETELIGIS INC., 12/18/2014 – – Ciao Group, Inc. (OTC Pink: CIAU) (PINKSHEETS: CIAU), today announced its plan to update its financial statements to reflect the acquisition of an operating technology and telecommunications company executed on April 21, 3014.

The compilation, audit and reporting of the acquired operations has taken longer than anticipated. The Company anticipates publishing all outstanding financial reports next month in January to bring the company into compliance with its reporting obligations. On December 8, 2014, the Company filed a detailed disclosure statement on SEC Form 8k addressing the delay including the plans to file the delayed reports in January of 2015 (http://bit.ly/8kUpdate).

About Ciao Group Inc., (OTCQB: CIAU)

Ciao is an innovative technology and communications company which serves a wide range of markets. Many organizations depend upon Ciao to understand, optimize and consolidate their mobile IT infrastructure. Ciao delivers new and innovative software solutions that overcome legacy application limitations and deliver increased productivity and cost effectiveness.

Additional information is available about Ciao Group Inc. and the products and services provided by Ciao subsidiaries and affiliates at http://ciaotelecom.com.

Ciao Intellectual Property. All rights reserved. CIAO, the CIAO logo and all other marks contained herein are trademarks of CIAO Intellectual Property and/or CIAO affiliated companies. All other marks contained herein are the property of their respective owners.

Forward-Looking Statements

This press release contains 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 (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company’s actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.

CONTACT:

Caio Telecom Inc.

Victor Santos

(855) 772-8189

SOURCE: Ciao Group, Inc.

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