SOURCE: AmeriResource Technologies, Inc.

February 21, 2008 06:30 ET

AmeriResource Update: BizAuctions Sales for President's Day Weekend Exceeds $50,000

LAS VEGAS, NV--(Marketwire - February 21, 2008) - AmeriResource Technologies, Inc. (OTCBB: ARRT), a diversified holding company, announced today that its subsidiary, BizAuctions, Inc. (PINKSHEETS: BZCN), recorded sales for the three (3) day President's Weekend that exceeded $50,000.

"Sales for the three (3) day President's weekend hit $51,785 with 399 items being sold on BizAuctions eBay auction site under its store name: BusinessAuctions Inc. Shipping and handling was an additional $4,733, for a total of $56,519, in revenues being recorded for the three (3) day period. The BizAuctions-eBay business model continues to exhibit progressive growth in revenues and potentially resulting in a great year for 2008," noted Delmar Janovec, CEO.

"BizAuctions employs two primary business models, whereby it liquidates inventory through eBay on consignment for a lucrative commission; and/or it purchases inventory at a fraction of retail price for the purpose of liquidating it for a profit. BizAuctions consigns, buys inventory, and liquidates through eBay providing a valuable service to its clients. It is clear that American companies are in need of liquidation services, and we are continuing to aggressively target that market," Janovec concluded.

The company continues to make considerable progress in increasing gross profits, reducing costs, and is close to achieving net profits on a consistent basis. BizAuctions revenues have increased substantially over the last several quarters, as follows;

Quarter Ended  Revenue
-------------  --------
  9/30/06      $192,097
 12/31/06      $223,123
  3/31/07      $326,906
  6/30/07      $438,764
  9/30/07      $971,965
 12/31/07    $1,010,183 (preliminary & unaudited)

BizAuctions' clients have included some of the Nation's leading retail names at the forefront of their industries. With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate excess inventory on eBay.

BizAuctions' operations are designed for maximum capacity to handle most any eBay liquidation project. Whether the client is a Fortune 500 company with 1,000 items or a small business with 100 items, BizAuctions can take on most any project and recover funds from clients' excess inventory.

More information is available at www.BizAuctions.com. Investors and media can receive a free investor kit for BizAuctions, Inc. by contacting Investor Relations at investors@BizAuctions.com or (800) 961-3275. A virtual tour of BizAuctions' facilities and flash video presentation can be viewed at http://www.bizauctions.com/tour.shtml.

The Company encourages the public to read the above information in conjunction with its year-end 10-KSB for December 31, 2006, and the third Quarter 10-QSB for September 30, 2007. The financial statements can be viewed at www.sec.gov.

ABOUT AMERIRESOURCE: AmeriResource is a diversified holding company with headquarters in Las Vegas, Nevada. It operates BizAuctions, Inc., AuctionWagon Inc., RoboServer Systems Corp., among others as operating subsidiaries. For more information on the Company and its operating subsidiaries, please see the Company's website at http://www.ameriresourcetechnologies.com.

The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission, at www.sec.gov. The Company will provide you with copies of this information upon request.

Contact Information