SOURCE: AmeriResource Technologies, Inc.

October 24, 2007 08:00 ET

AmeriResource Sells Green Endeavors LTD. for $750,000 of NEXA Preferred Stock

LAS VEGAS, NV--(Marketwire - October 24, 2007) - AmeriResource Technologies, Inc. (OTCBB: AMRE), a diversified holding company, announced today that it has closed on the sale of 90% of the issued and outstanding stock of Green Endeavors LTD. (PINKSHEETS: GRNE) in exchange for the issuance of 150,000 shares of restricted Series C Preferred stock of Nexia Holdings, Inc. (OTCBB: NEXA) with a stated value of $5.00 per share. Green Endeavors LTD. will retain 13 million shares of BizAuctions, Inc. (PINKSHEETS: BZCN) restricted common stock and $171,000 in debt.

Mr. Janovec pointed out that, "AMRE will benefit by becoming a shareholder in Nexia and retaining a minority shareholder interest in GRNE. Upon GRNE acquiring Landis LLC, AMRE will reap the benefits of being a shareholder in GRNE's operations that are on track to generate $2.3M in gross revenues in 2007. GRNE has plans to grow its operations significantly. In addition, AMRE will eliminate the costs and time associated with maintaining the public status of GRNE which will free up resources that will be redirected into growing revenues for BizAuctions, Inc. and AMRE's other operations."

The transaction with Nexia has further created the potential for a strategic alliance between BizAuctions, Inc. and Nexia's Black Chandelier clothing company. The alliance would involve BizAuctions selling Black Chandelier's excess inventory through its on-line eBay auction platform. This alliance will provide another revenue stream which expands its present auction platform of products that is available to on-line consumers.

Richard Surber, CEO of Nexia Holdings, Inc., commented, "Mr. Janovec is a visionary. He realizes that Nexia is a ground level investment opportunity. Mr. Janovec has seized upon an opportunity that streamlines AMRE's operations and diversifies AMRE's portfolio. I am confident that AMRE will benefit from the acquisition of Nexia's Class C preferred stock as well as realize the benefit of increased value of its remaining GRNE shareholdings. Nexia's plans for GRNE will benefit AMRE and all GRNE shareholders. Over the coming weeks, Delmar and I will be working hard to build value through additional alliances between BZCN and Black Chandelier which could result in BZCN selling our high quality apparel creating another mutually beneficial transaction." For more information on Nexia, please visit the website at www.nexiaholdings.com.

ABOUT AMERIRESOURCE: AmeriResource is a diversified holding company with headquarters in Las Vegas, Nevada. It operates BizAuctions, Inc., AuctionWagon Inc., RoboServer Systems Corp., and VoIPCOM USA, Inc., as operating subsidiaries. For more information on the Company and its operating subsidiaries, please see the Company's website at http://www.ameriresourcetechnologies.com.

The Company encourages the public to read the above information in conjunction with its year end statement, Form 10-KSB for December 31, 2006, and the second Quarter statement, 10-QSB ended June 30, 2007. The Company financial statements can be viewed at www.sec.gov.

The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission, at www.sec.gov. The Company will provide you with copies of this information upon request.

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