SOURCE: Haz Holdings, Inc.

October 08, 2007 11:17 ET

HAZ Holdings, Inc. Announces Appointment of New Director

FEDERAL WAY, WA--(Marketwire - October 8, 2007) - HAZ Holdings, Inc. (PINKSHEETS: HAZH), which manages a portfolio of full-service hotels, today announced the appointment of Gary Nerison, an experienced entrepreneur in commercial real estate and loan brokerage companies, to the company's Board of Directors.

Mr. Nerison is expected to provide critical oversight and leadership in the areas of real estate acquisition and financing. He will assist with the company's efforts to secure the most advantageous long-term financing possible for the properties in the company's current hotel ownership portfolio, as well as additional properties that are added as part of HAZ Holdings' ongoing expansion initiative.

Mr. Nerison is an experienced entrepreneur in commercial real estate and loan brokerage companies. With his rich business commercial real estate background, over the last 36 years, Mr. Nerison has initiated and led to growth several commercial real estate and loan brokerage companies. In 1998, he founded a loan brokerage firm placing venture loans for new business, which he still currently manages. Since 2002, he has been the Co-founder and President of World Health and Education Foundation, a charitable organization. Mr. Nerison attended Augustana College in Sioux Falls, South Dakota with a Major in Economics.

"The addition of Mr. Nerison to our internal management team clearly strengthens the company as it executes its growth initiatives," commented Dr. Karim Bhanji, CEO of HAZ Holdings, Inc. "Mr. Nerison's immediate work, in addition to his service to the Board, will be to direct efforts to refinance the company's current hotel properties, and we believe his considerable experience in real estate financing will be invaluable to the company."

HAZ Holdings' five-year business plan is to increase its hotel ownership portfolio by acquiring hotel properties that range in size from 100-300 rooms per property. The company's primary focus for hotel acquisitions is in North America, but once it has met its North American goals, HAZ Holdings plans to develop, acquire hotel properties in Europe and Asia market.

Shareholders and anyone interested in following the progress of the company are encouraged to subscribe to the company's mailing list located at http://investors.hazholdings.com/ealert.php, through which HAZ Holdings disseminates newly disclosed information, including press releases, notices of SEC filings, investor newsletters and other material, to subscribers directly by email.

About HAZ Holdings, Inc.

HAZ Holdings owns and manages three mid-scale, full-service hotels in the United States and Canada, under the brand names "Hotel Monarchy & Suites" and "Monarchy Inn & Suites" (www.hazhotels.com). HAZ Holdings' five-year business plan is to increase its hotel ownership portfolio by acquiring hotel properties that range in size from 100-300 rooms per property, while concurrently franchising additional hotels under its brand names. The Company's portfolio also includes the following wholly owned subsidiaries: Mortgage and Financial Institute, LLC (www.mfibanking.com), a mortgage brokerage company specializing in commercial and residential lending in Washington and Alaska; Nationwide Hotel Management, LLC, a hotel management company; KB Realty Group International LLC, a commercial and residential real estate sales company; Evergreen Sound Construction, LLC, a commercial and residential development company; and DoTravelDeals (www.dotraveldeals.com), a global travel booking engine.

This press release may contain "forward-looking statements." Although we believe that the expectations reflected in any forward-looking statements are reasonable, HAZ Holdings cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which HAZ Holdings bases its predictions and/or forward-looking statements could materially affect its actual results.

Contact Information

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    Gemini Financial Communications
    A. Beyer
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