Conversion Services International Completes Transactions to Strengthen its Balance Sheet

EAST HANOVER, N.J. (April 23, 2008) -- Conversion Services International, Inc. (AMEX: CVN) (“CSI”), a premier professional services firm focused on delivering business intelligence and business process optimization solutions  to Global 2000 organizations and other businesses, today announced that it had converted $600,000 in debt to equity during March 2008.

Bill Hendry, chief financial officer of CSI, stated, “In December 2007, we made the final payment of $250,000 to repay our debt to Sands Brothers Venture Capital LLC, and we converted $2.5 million of debt to equity.  In March 2008, we converted another $600,000 of long-term debt to equity.  We are very pleased to have completed this transaction as we continue to strengthen our balance sheet.  Also, in March 2008, we replaced our previous line of credit with Laurus Master Fund Ltd. with a new line of credit with Access Capital, Inc.”

Hendry concluded, “We have made progress toward improving the Company’s capital structure during the last few months and we expect to continue to make further improvements.”

Scott Newman, chairman and chief executive officer of CSI, stated, “This strengthening of our capital structure will allow us to pursue our business strategy with greater flexibility and enhance our ability to pursue acquisitions that are complementary to our business.  Despite the economic climate, we are continuing to win new contracts and expand our customer base.”

About Conversion Services International, Inc.

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