SOURCE: Nova Energy, Inc.

March 09, 2010 09:15 ET

Nova Energy, Inc. (NVAE) Announces NewMarket Technology, Inc. Founder and Chairman Philip Verges as Interim CEO

DALLAS, TX--(Marketwire - March 9, 2010) -  Nova Energy, Inc. (OTCBB: NVAE) has appointed Philip Verges, the founder and chairman of NewMarket Technology, Inc., as the Company's interim CEO. Mr. Verges replaces Hugh G. Robinson in the CEO position. Nova regrets to announce that Retired Major General Hugh G. Robinson, died last week at his home in Desoto, Texas.

"General Robinson's vision for inspiring a start-up and small business investment market in Africa, with Nova Energy as an example, is a step ahead of its time," said Philip Verges. "I was in Malta working on an African public venture exchange start-up that was conceived as an offshoot of General Robinson's vision when I received news of his death. His vision for Africa is well underway within Nova and the momentum he established is already unstoppable. His lifetime successes and experiences are remarkable and Nova has been quite fortunate to enjoy his participation in the Company's launching. The response from Nova's partners in Africa has reflected an overwhelming respect and gratitude for the legacy General Robinson leaves behind here at Nova. I am confident in Nova's long-term potential based on the momentum established by General Robinson. Our prayers and gratitude for sharing General Robinson's life with us at Nova are with his family in this time of mourning."

General Robinson graduated from West Point in 1954. He was the first ever African-American Army Officer to be a Presidential Advisor. He was appointed by President Lyndon Johnson as a military aide. In Vietnam, General Robinson served as a Battalion Commander and earned the Bronze Star. Following his military career, General Robinson continued to make remarkable achievements in both a civic and private capacity. Among other notable successes and contributions, General Robinson served as Vice Chairman and later as Chairman of Federal Reserve Bank of Dallas for a period of seven years. Part of Nova's vision is to improve access to the capital market for small and early stage business opportunities in Africa. General Robinson's help has been instrumental in the strides Nova has accomplished in developing economic small business investment in Africa. General Robinson's ongoing civic inspiration will carry on within Nova for years to come.

About Nova Energy, Inc. www.novaei.com

Nova Energy, Inc. has launched an updated corporate strategy to pursue several business lines in the growing economy of East Africa, initially in Kenya. Nova has already begun several initiatives in the region to include initiatives in the Technology, Utility, Housing and Health products industries. Nova Energy has also launched a communications and awareness campaign. The Company is quoted on the OTCBB and files its periodic reports. The Company is also dually quoted on the Pinksheets under NVAE.

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

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