SOURCE: Freedom Financial Holdings, Inc.

December 16, 2009 13:00 ET

Freedom Reports Positive Results in Kuwait

FORT WAYNE, IN--(Marketwire - December 16, 2009) - Freedom Financial Holdings, Inc. (PINKSHEETS: FDMF) today announced that a management team from Freedom Energy International, the Company's wholly owned subsidiary dealing with Heavy-oil conversion technology, has returned with positive results from Kuwait and has been asked to return as soon as possible in January.

Kuwait shares a global need to exploit its massive Heavy Oil reserves. While in Kuwait Freedom made 6 presentations of its KC 9000™ heavy oil treatment to senior management of the Kuwait Oil Company (KOC), including 9 table top demonstrations of its unique KC 9000™ oil treatment and a field demonstration.

In this test Freedom Energy's KC 9000™ technology was used to treat a sample of sludge oil, a major clearance problem in KOC's holding tanks. KOC's laboratory chemists conducted a before and after analysis of the treated oil. Their report showed that KC 9000™ increased the API gravity by over of 50% and also lowered the sulfur content by over 7%, a valuable change to KOC, making the oil both moveable and refinable.

As a result of these successful tests, introductions followed to the private contractors who have the contracts to clean the oil tanks and sludge pits. Further demonstrations and presentations were successfully conducted for these contractors.

The trip was made to gain commercial interest in the Middle East Countries for KC 9000™, beginning with Kuwait. The introductions were facilitated by Maximus Contracting, who organized and coordinated the itinerary for Freedom's management that made the 2 week visit extremely productive. While there, the management team of Brian Kistler and Robin Hunt also met representatives from several of the other Gulf Coast Countries (GCC). These contacts will be renewed when Freedom's team returns to the Gulf in January for larger scale testing at the invitation of the KOC. "We knew KC 9000™ had great potential and will continue to use our contacts to get Freedom in front of the right people," said Sami Wanis, Maximus' CEO.

"Everyone we have met is excited about KC 9000™ and all its potential applications. We have been invited to conduct larger pilot projects on our already imminent return visit," says Freedom's CEO Brian Kistler.

"The opportunity for KC 9000™ is literally worldwide and our market development is now moving ahead with strong interest from three continents. This week we host a return visit to Fort Wayne by our Venezuelan partners to test new samples of heavy oil from both Venezuelan and Mexican fields. We will report on all these activities immediately as results are available," he concluded.

ABOUT FREEDOM FINANCIAL HOLDINGS, INC.:

Freedom Financial Holdings, Inc. is a holding company with a focus on the identification of opportunities in oil related markets. Freedom's KC 9000™ heavy oil treatment is effective in freeing oil wells, getting heavy deposits to flow and improving heavy oil to refinery grade without heat or post processing. Freedom now markets this uniquely effective proprietary technology for use by others internationally, both by sale and licensing.

FORWARD-LOOKING STATEMENT

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

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