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Home Solutions of America Signs Definitive Agreement to Acquire RAM Home Warranty Acquisition Expected To Be Immediately Additive to Earnings as Company Increases Service Offering Diversification DALLAS, July 13 /PRNewswire-FirstCall/ -- Home Solutions of America, Inc. (AMEX:HOM), a niche provider of specialty residential services, announced today it has signed a definitive agreement to acquire RAM Home Warranty, a 40-year-old home warranty business headquartered in California. The definitive agreement is subject to regulatory approvals and other closing conditions. The acquisition, upon closing, is expected to be immediately additive to Home Solutions' earnings. "Our acquisition of RAM took another step toward completion with the signing of this definitive agreement," said Frank Fradella, Chairman and CEO of Home Solutions. "RAM's home warranty business will blend well with our existing California operations. Furthermore, we hope to expand operations geographically into both Texas and Florida, once regulatory obstacles have been studied, and to expand our service offering into the home so the homeowner can have "one-stop shopping" for a variety of services. John Mazurkiewitz, President and founder of RAM Home Warranty, will continue to lead the day-to-day operations of RAM after the closing of this acquisition. We expect to close this acquisition by September 30, 2004." Mr. Mazurkiewitz noted, "We are poised to become a Home Solutions team member in the very near future. Our industry is exploding as the home warranty product is becoming a more accepted and integral part of the residential real estate transaction. We believe the synergies between Home Solutions and RAM Home Warranty are compelling. RAM can significantly impact the organic growth rate of Home Solutions through the implementation of our successful business model into the Company's existing operations. In addition, we have identified other "add-on" businesses that complement the current service portfolio of the Company. We look forward to completing this transaction." Home Solutions is a niche provider of specialty residential services including Restoration Services and Specialty Interior Services. The Company has operations in the California, Texas and Florida markets and is rapidly growing its core business through organic growth as well as through an acquisition strategy. For more information on Home Solutions, please see our website at http://www.homcorp.com/ . Statements included in this update that are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by Public Law 104-67. Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expect," and similar expressions. The Company cautions readers that forward-looking statements including, without limitation, those relating to the Company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, due to factors such as those relating to economic, governmental, technological, and other risks and factors identified from time to time in the Company's reports filed with the SEC. CONTACT: Cormac Glynn, CEOcast, Inc. PHONE: 212-732-4300 DATASOURCE: Home Solutions of America, Inc. CONTACT: Cormac Glynn of CEOcast, +1-212-732-4300, for Home Solutions of America Web site: http://www.hsoacorp.com/

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