SOURCE: American Green Group, Inc.

November 13, 2008 06:30 ET

AMNE to Change Transfer Agents and Issue Special Dividend

NEW HAVEN, CT--(Marketwire - November 13, 2008) - American Green Group, Inc. (PINKSHEETS: AMNE) decided it is in the best interests of its shareholders to change Transfer Agents and is in the process of setting up its new transfer agent Fidelity Stock Transfer located in Utah. AMNE will update the information on Pink Sheets under its company info page.

AMNE will be creating a special class of Preferred stock that will be issued to all shareholders of record as of a soon to be announced record date. The Preferred shares can be converted into common stock after One year at the rate of Five Common shares for every One Preferred redeemed. AMNE is planning on issuing One Preferred for every 20 shares of Common owned as of the soon to be announced record date.

AMNE states it will amend the By-Laws of the Corporation to effect that no additional reverse splits may take place for a period of one year, and any additional reverse split can only be done by a shareholder vote. It is the intention of the management of AMNE to try to instill trust in the market place and distance itself from prior managements of the entity when it was controlled by others.

The Company believes all other remarks made in the release to be accurate to the best of their knowledge.

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.