SOURCE: Banx and Green Group

March 14, 2008 15:24 ET

Banx and Green Group to Launch Production Company

CORAL SPRINGS, FL--(Marketwire - March 14, 2008) - Banx and Green Group, Inc. announced today a launch of their production company -- "Amazing Karma Productions."

Amazing Karma Productions will host Live Events, Film Production as well as develop a merchandising arm for sale of goods and products at the events, online and also distribution to other wholesalers and retailers.

The company will name a president of this division in the coming months. Steve Lane and Rick Papaleo will assume management duties for now.

"We have decided to move in a new direction with the development of Amazing Karma Productions. The name is unusual and I read it somewhere and thought it would be appropriate for Banx and Green," stated Rick Papaleo.

"The company has decided not to pursue the acquisition of Central Park North Worldwide Events at this time and move forward in a new direction. We also have had conversations with ISBL and brief conversations with Brett Stevens of Fight Co. about marketing and co-promotion. The talks were preliminary, but positive. I hope to have some sort of deal done in place in time for their upcoming MMA tournament. Our goal is to budget 5 million dollars towards the development and projects for Amazing Karma Productions," continued Papaleo.

In other news, the accounting process has begun and the company is hoping to complete the audits within the next 30 days. Once the audit is complete, registration statement will be filed and then wait for the approval to trade. At that time management will be legally able to issue all free trading shares to the ISBL shareholders of record. At this time only 144 restricted shares are able to be issued.

Banx and Green's management continues to review their option regarding a possible merger with ISBL. A merger will only occur when Banx and Green begins trading.

Management will review the updated ISBL numbers which are due for release next week. Management is also concerned about the stock price and is carefully looking at that issue.

LGN Entertainment continues to grow as it is working on several new opportunities. The company audit will be posted along with filing as soon as it is available. On a bit of sour note, the Nick Loren anticipated album has not launched due to some creative differences. LGN hopes to resolve this situation shortly.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause results to differ materially from those expressed in the forward-looking statements, including but not limited to certain delays and risks detailed from time to time in the company's filings with the Securities and Exchange Commission.

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