SOURCE: Trans Global Group, Inc.

August 26, 2010 08:00 ET

Trans Global Group Release Share Structure and Provides Update for ALFE Transaction

FORT LAUDERDALE, FL--(Marketwire - August 26, 2010) -  Trans Global Group, Inc. (PINKSHEETS: TGGI) would like to take this time to follow up on the share structure of the Company and provide information on the transaction with American Life Holding Company, Inc. (OTCBB: ALFE).

TGGI last week issued a press release in which it indicated the Company had not placed a "gag" order on its transfer agent. Signature Stock Transfer the Company's transfer agent responded this week that it does not have to release information to the shareholders and does as a courtesy to the shareholders of record. The Company does not agree with this policy and will seek to remedy this issue shortly. As of August 24, 2010 the Company has 1,679,208,997 shares of its Common Stock outstanding of which 1,599,209,295 are free trading shares and 79,999,702 are restricted shares. The Company currently has 2,525,000 shares of its convertible Preferred outstanding. The Company did return the 500,000,000 shares of Common and the Outstanding was reduced, the Company has since issued more shares to retire debt bringing the share structure to what it is today. The Company has to continue to pay its debt, but will not allow the outstanding share count to exceed 2 billion shares before the record date. 

TGGI is entering into agreement with all the holders of the Preferred shares to agree not to convert the Preferred shares into Common prior to the record date for ALFE. By doing this it will free up more shares for the holders of Common shares. This will make up for the misprint the Company made in a previous press release. This will cap the maximum number of shares at 2 billion eligible to receive any of the shares of ALFE. 

The Company has been in contact with American Life Holding Company, Inc. (OTCBB: ALFE) and they are working on the final agreement so the company can announce a record date, while FSM works on getting its audit completed.

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

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