SOURCE: Amelot Holdings, Inc.

September 01, 2010 09:00 ET

Amelot Holdings Announces Debt Reduction and Purchase of Shares by Its President

NORFOLK, VA--(Marketwire - September 1, 2010) - Amelot Holdings, Inc. (PINKSHEETS: AMHD) today announced that through the issuance of 315 million shares of the Company's common stock, liabilities from its balance sheet have been decreased by over $140,000.

Mr. Guarnieri has purchased 265 million of the 315 million shares giving him current ownership of over 1 billion shares. Mr. Guarnieri has purchased and fully paid for all of the shares he owns. The recent purchase of shares is restricted for a period of one year, after which they can only be sold using the "Dribble Rule" which allows selling by an insider of not more than one percent of the Outstanding per quarter.

The other 50 million shares carry a restricted legend, and are to be restricted for a minimum of one year.

"It has been difficult for us to move forward in the manner and speed with which I would like us to, without having access to the necessary funding carrying favorable terms and conditions. Taking debt off the books while at the same time not creating immediate or short term dilution to the shareholders, I feel is in the best interest of us all.

"To further strengthen Amelot's position and to show my continued faith, support and confidence in the future of the Company, I have renewed my employment contract for another one year term and will accept no compensation for this period. I would also like to add that I have received no compensation in any form from the Company since becoming President and CEO in June of 2009. All monies received by Amelot have been used for paying down debt and taking measures to build substantial future revenues. I will continue working hard and doing everything under my power to increase shareholder value," concluded Fred Guarnieri, President and CEO.

In a press release dated August 20, 2010, the Company announced it had removed its Corporate Secretary, Mr. Andrew L. Schwab. The Company would further like to mention that Mr. Schwab had his own private practice and was not a salaried employee or salaried officer of Amelot. He was retained by the Company for services as needed, and compensated for those services by Company check.

The current outstanding common shares balance is 4,624,573,155 and the number of authorized shares is 4,925,000,000. Mr. Guarnieri currently owns 1,001,275,000 shares of the Company's common stock.

About Amelot Holdings, Inc. (PINKSHEETS: AMHD):

Amelot Holdings, Inc. (, a publicly traded company, is a diversified holding company that has identified Biodiesel as a multi-billion emerging Biofuel market. Amelot plans to have a significant market share in growing low cost feedstocks to supply the growing demand for biodiesel, to reduce energy dependency of fossil fuels, to help reduce the U.S. dependency on foreign oil supplies and reduce the impact of energy on our environment.

Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

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