Caspian Energy Inc.
TSX : CEK

June 13, 2008 10:00 ET

Corporate Governance Advocate Recommends That Shareholders of Caspian Energy Inc. (TSX:CEK) Vote for the Election of the Directors

CALGARY, ALBERTA--(Marketwire - June 13, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Caspian Energy Inc. ("Caspian")(TSX:CEK) announces that on June 6, 2008 ISS/RiskMetrics formally recommended that its clients who are institutional investors in Canada and throughout the world vote FOR the election of the Directors, being William A.G. Ramsay, Charles J. Summers, Robert S. Pollock, Robert D. Cudney, Gordon D. Harris, John D. McBride and Adil Mukhamedzhanov and FOR the appointment of PricewaterhouseCoopers LLP, Chartered Accountants, as auditors of the Corporation at the Annual Meeting of Shareholders of Caspian to be held on Tuesday, June 24, 2008.

ISS/RiskMetrics is one of the world's leading providers of corporate governance and proxy voting solutions. It provides proxy research, voting services and corporate governance advisory services to financial institutions and corporations worldwide.

ISS/RiskMetrics noted in the report that the Caspian Board will be majority independent. There are no insiders on any key committees.

Caspian will be holding its 2007 Annual Meeting of Shareholders on June 24, 2008 at 3:30 p.m. (Toronto time) at the National Club, 303 Bay Street, Toronto, Ontario. To ensure your vote counts, Management proxies voting FOR, should be submitted prior to 3:30 p.m. (Toronto time), on June 20, 2008 using one of the methods described on the form of proxy. For more information on how to vote your proxy or where to receive the Caspian proxy circular, investors should contact Kingsdale Shareholder Services Inc., Caspian's proxy and information agent at the following North American toll-free number 1-866-879-7650.

CAUTIONARY NOTE

Certain statements contained in this press release are forward looking statements, including estimates, assumptions and other forward-looking information. The actual performance, developments and/or results of Caspian may differ materially from any or all of the forwardlooking statements, which include current expectations, estimates and projections, in all or in part attributable to general economic conditions, and other risks, uncertainties and circumstances partly or totally outside the control of Caspian, including oil prices, imprecision of reserve estimates, drilling risks, future production of gas and oil, rates of inflation, changes in future costs and expenses related to the activities involving the exploration, development, production and transportation of oil, hedging, financing availability and other risks related to financial activities, and environmental and geopolitical risks. Further information which may cause results to differ materially from those projected in the forward looking statements is contained in the Caspian's filings with Canadian securities regulatory authorities. Caspian disclaims any intention or obligation to update or revise forward looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

The securities referred to herein have not been registered under the U.S. Securities Act of 1933 and may not be offered or soled in the United States or to a U.S. person absent registration or an applicable exemption from registration.

Contact Information

  • Caspian Energy Inc.
    William Ramsay
    President and Chief Executive Officer
    020 7861 3232