SOURCE: AbTech Holdings, Inc.

February 10, 2011 11:19 ET

Abtech Holdings Announces Close of Merger With AbTech Industries

SCOTTSDALE, AZ--(Marketwire - February 10, 2011) - Abtech Holdings, Inc. (OTCBB: ABHD) ("Abtech," "AbTech" or the "Company") a Nevada corporation announced that today it has closed a merger (the "Merger") with AbTech Industries, Inc., a Delaware corporation ("AbTech Industries").

As a result of the Merger, Abtech Holdings acquired all of the issued and outstanding common stock of AbTech Industries (through a reverse acquisition transaction) in exchange for the common stockholders of Abtech Industries acquiring an approximate 78% ownership interest in Abtech Holdings. As such, AbTech Industries becomes a majority-owned subsidiary of Abtech Holdings which has acquired the business and operations of AbTech Industries.

As a condition to closing the Merger, Ms. Mandi Luis resigned as Chief Executive Officer, President, and Director of the Company, and Mr. Robert MacKay resigned, effective upon the completion of the Merger, as Chief Financial Officer, Chief Accounting Officer, Secretary, Treasurer, and Director of the Company. 

On October 4, 2010, Glenn R. Rink, the President, Chief Executive Officer and a Director of AbTech Industries, was appointed to the Board of Directors of Abtech Holdings, filling an existing vacancy. Upon the effectiveness of the Merger, Olivia H. Farr, David Greenwald, A. Judson Hill, Jonathan Thatcher, Karl Seitz, and F. Daniel Gabel, the current directors (together with Mr. Rink) of AbTech Industries, were appointed to the Company's Board of Directors. At the closing of the Merger, Mr. Glenn R. Rink was appointed Chief Executive Officer and President, Mr. Lane J. Castleton was appointed Chief Financial Officer, Vice President, and Treasurer, and Ms. Olivia H. Farr was appointed Secretary of the Company. 

Company President & CEO Glenn Rink commented, "We're very encouraged by the prospects for our company that result from the merger. We expect that this transaction will open new avenues and opportunities for our company, including opportunities regarding future funding to aid our plans for rapid expansion."

The definitive agreement contains customary representation and warranties, covenants and indemnification provisions and conditions to closing. Details of the company's business, finances, appointments and agreements can be found as part of the company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information about the Company, visit: www.abtechindustries.com.

About Abtech Holdings (OTCBB: ABHD) and AbTech Industries

AbTech Industries, Inc. (a subsidiary of Abtech Holdings Inc.) is an environmental technologies firm dedicated to providing innovative solutions to communities, industry and governments addressing issues of water pollutants and contamination. Its products are based on polymer technologies capable of removing hydrocarbons, sediment and other foreign elements from still (ponds, lakes and marinas) or flowing water (curbside drains, pipe outflows, rivers and oceans). Smart Sponge Plus contains an antimicrobial agent that is effective in reducing coliform bacteria found in stormwater, industrial wastewater and municipal wastewater. AbTech's Smart Sponge technology is installed in more than 15,000 locations across America and in 8 countries worldwide. For more information please visit: www.abtechindustries.com.

Notice Regarding Forward-Looking Statements
Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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