SOURCE: Savanna East Africa, Inc.

Savanna East Africa, Inc.

July 15, 2010 10:17 ET

(NVAE) Savanna East Africa, Formerly Nova Energy, Announces Name Change

DALLAS, TX--(Marketwire - July 15, 2010) - Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) today announced a corporate name change. Savanna East Africa is a fully reporting company with audited financial statements quoted on the new 'OTCQB.' The Company was formerly known as Nova Energy, Inc. Earlier this year, the Company announced an updated business plan to expand into developing a diverse range of high growth early stage business opportunities in East Africa. The Company currently has a number of projects in East Africa underway to include technology, manufacturing and public utility initiatives. The Company is also continuing to grow its existing oil and gas reclamation business with new management and business strategies. The Chief Executive Officer will be in Nairobi next week and the Company anticipates a number of major announcements in conjunction with pending business transactions following the Nairobi meetings.

Effective June 1st, 2010, trading symbols of over-the-counter quoted companies do not change in conjunction with a name change. Accordingly, Savanna East Africa's trading symbol remains unchanged and will continue as 'NVAE.' Management anticipates the new policy to not update trading symbols with corporate name changes to potentially create some temporary corporate identity confusion. It may take some weeks for the web-based financial systems to update their databases to reflect the new name with the old trading symbol.

About Savanna East Africa, Inc. (
Savanna East Africa, Inc. (NVAE), previously named Nova Energy, Inc., launched an updated corporate strategy early this year 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. The Company is also continuing to grow its existing oil and gas reclamation business with new management and business strategies. 

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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