SOURCE: Megola Inc.

Megola Inc.

August 23, 2010 09:15 ET

Megola Inc. Announces Management Team Changes

POINT EDWARD, ON--(Marketwire - August 23, 2010) -  Megola Inc. (OTCBB: MGON) announces that Mr. Sufan Siauw has joined the Board of Directors effective for the company's 2011 Fiscal Year. Mr. Siauw, previously a member of Megola's Advisory Board, replaces Mr. Willard (Buzz) Brown on the Board of Directors. Mr. Brown continues his relationship with Megola as President and CEO of New Fire Solutions, LLC.

Megola's Board of Directors will be evaluating Advisory Board positions for 2011 as well. Megola utilizes the skill sets of its Advisory Board members for strategic planning input, as well as evaluation of business and product opportunities.

Sufan Siauw - Director

Sufan Siauw is currently the President of Haining Paul Yuan Dyestuff Co. Ltd, a Chinese manufacturer with annual revenues of $25 million US. Mr. Siauw is also a Managing Partner of Dalian Bingshan H2O3 Environmental Solutions Co. Ltd., a Chinese ozone water treatment system manufacturer that is part of the Bingshan Group. He is also a Managing Director of Interway International, Ltd., a company with annual sales of $10 million US.

Mr. Siauw is an entrepreneur that has deep interests in new technology. He is a founder of Premium Power LLC., a cutting-edge Massachusetts-based battery developer and Office General Inc., a San Francisco-based corporation that owns and operates business centers around the world and is expanding to provide management software to independently owned business centers worldwide.

Mr. Siauw began his professional career with Thai Gypsum Surya Indonesia, where he served as Business Development Manager. While there, he was in charge of developing strategic partnerships with international gypsum board producers.

He received a Bachelor of Science degree in Business Administration from Pepperdine University and a Master of Business Administration in International Business degree from Loyola Marymount University.

For more information on Megola Inc., please visit www.megola.com.

Shareholders and investors are strongly cautioned against placing undue reliance on information set forth in these communications in making any investment decisions concerning our securities.

The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.

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