HIMC Corporation Settles Legal Disputes and Hires New CEO for subsidiary ITI Internet Services, Inc.

Tacoma, WA (Business Wire) March 22, 2007 - HIMC Corporation's (OTC:HMCO) Board of Directors announces that a settlement agreement has been reached that will result in the dismissal of a wage claim lawsuit filed in 2005 by a former employee of HIMC. Two lawsuits involving business trade accounts of the company's subsidiary, ITI Internet Services, Inc., in the State of Texas have been settled by filing agreed upon dismissals without costs or fees to either side. A case in Illinois involving claims against ITI for processing a check for one of its customers has been settled for a nominal payment, and another business trade case in Illinois against ITI has been dismissed.

HIMC Corporation's Board of Directors also announced that Douglas Mills has accepted the position of President & CEO of ITI Internet Services, Inc. (http://www.itinternet.net), a wholly owned subsidiary of HIMC. He has been working for the Board in a consulting role since October of 2006. Mills stated, "My immediate goal is to work with the current staff to build a customer centric organization, with a focus on helping merchants reduce their costs for processing electronic payments."

Mills brings twenty-plus years of electronic payments experience to ITI, most recently with Tempo Payments, Inc. (formerly Debitman Card, Inc.), where he spent three and a half years as EVP responsible for business development and building relationships with processors and national retail associations.

In 1996 Mr. Mills was responsible for developing the business plan and launching "Supermarket Transaction Services, LLC" (STS), a third party processing switch, where he served as General Manager. STS was a joint venture company of Associated Grocers-Seattle and Unified Western Grocers-Portland that processed on-line transactions for more than four-hundred store locations in Washington, Oregon and California.

During his twenty-five year tenure with Associated Grocers, Mills lead the project that was instrumental in the introduction of electronic payments at the point-of-sale to independent supermarket operators in the Pacific Northwest. He also served on the Food Marketing Institute’s "Electronic Payment Systems Committee" from 1986 - 1996.

In a related announcement, Jerry Cornwell will relinquish his role as President & CEO of ITI, but will continue as President & CEO of HIMC.

ITI Internet Services, Inc. is pleased to announce the recent addition of "Standard Motor Products" (NYSE:SMP), "Electrical Worker Insurance Fund" and "US Health Group" through their subsidiaries "National Foundation Life Insurance Company" and "Freedom Life Insurance Company of America" to the growing list of merchants that offer "PayByCheck". This easy to use, internet based payment option provides merchants with an alternative to the high costs associated with the acceptance of credit cards. "PayByCheck" allows the consumer to pay for goods and services using their personal or business checking account through the merchant website or call-center.

Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved.


Contact:
Jerry Cornwell
HIMC Corporation
253-284-0320
760-837-9283
tcktsllc@verizon.net