SOURCE: Chelsea Management Group Inc.

June 27, 2008 15:16 ET

Chelsea Management Group Inc. Changes Company Name to Great Lakes Biogas Technologies Inc. and Introduces New Management Team

DENVER, CO--(Marketwire - June 27, 2008) - Chelsea Management Group Inc. (PINKSHEETS: CLMP) (GR: CS4) -- effective immediately has officially changed the company name to Great Lakes Biogas Technologies Inc. The company will also relocate its head office to 146 Alicia Court, Marietta, Georgia 30062.

In keeping with the corporation's ongoing divesture and consolidation a new management team has been implemented. Mr. Miles Reimersma will assume the responsibilities as the new company president and Karlayne Geikie will join the company as secretary.

The new management team will redirect the corporation's focus solely into the field of alternative energy technologies and resources. Chelsea's previous management will remain on for a period of time to facilitate the transition which is expected to be accomplished by the year end. Please be advised that existing Chelsea share certificates will be recognized under the new company name, Great Lakes Biogas Technologies Inc. Management believes this to be a sound business decision due to the current rising energy costs and demand for alternative energy resources. The company expects this business reorganization and focus should garner numerous opportunities in these fields in the foreseeable future.

About Great Lakes Biogas Technologies Inc.

Formed in 2001, Great Lakes Biogas Technologies Inc. searches for the winners of tomorrow -- entrepreneurs whose ideas and talents qualify them to pursue large market opportunities successfully. We seek opportunities across a broad spectrum, including biotechnology and pharmaceuticals, medical devices, services and healthcare/life sciences information technology. On a selective basis, we also consider later-stage health and life sciences investments where we can uniquely apply Chelsea's industry and capital markets experience. The company's recent reorganization and business focus is to pursue the numerous opportunities that are presenting themselves in the alternative energy exploration and technology fields today and in the foreseeable future.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Contact Information

    Chelsea Management Group Inc.
    Mr. Gary Kelley
    (303) 657-2764