SOURCE: Arrow Resources Development

Arrow Resources Development

October 30, 2009 08:30 ET

Arrow Forms Subsidiaries

NEW YORK, NY--(Marketwire - October 30, 2009) - Arrow Resources Development, Inc. (OTCBB: ARWD) (herein "Arrow"), is pleased to announced that it has formed two wholly owned subsidiaries, PT. Arrow Resources East and PT. Arrow Renewable Energy; both are Indonesian registered companies. PT. Arrow Renewable Energy's initial project will be a joint venture agreement with PT. Sumber Alam Utama (SAU) to execute their Power Purchase Agreement with PT. Perusahaan Listrik Negara (PLN), the Indonesian national electricity company for the development of 10,000 MW (approximately 200 plants and 50 MW each) with a purchase price of $.075 per kilowatt hour. PT. Arrow Renewable Energy, along with PT. Sumber Alam Utama, has gained approval to generate geothermal energy from the patent pending Single Well Engineered Geothermal System ("SWEGS") and will sell all energy production to PLN for distribution to the local Indonesian market. The initial power plants will be built at the Company's plantation locations in Sulawesi, Indonesian.

About Arrow Resources Development, Inc.

Arrow Resources Development, Inc. develops and coordinates corporate operations, finance, sales and marketing activities along with the administration of the corporate citizenship programs for natural resource development companies in the Asian market. Its initial relationship with Arrow Pacific Resources Group Limited (BVI Company) is for the development of large scale plantation and farming operations in Indonesia. Arrow has signed a similar agreement with Gerakan Masyarakat Pelestari Lingkungan Hidup (GMPLH), and GMPLH's joint venture partner, PT. Tiga Daun (Indonesian company owned by Arrow Pacific) for the large scale plantation/farming and ethanol plants in Indonesia. Arrow's agreements entitle the Company to 10% of all gross revenue generated by all their partners' plantation/farming including any and all sales of natural resources and derivative products. For more information about the company, please visit their website at

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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