SOURCE: Trans Global Group Inc

February 23, 2010 08:00 ET

TGGI Signs LOI to Sell Ecosafe to ALFE for Share Exchange

FORT LAUDERDALE, FL--(Marketwire - February 23, 2010) - Trans Global Group, Inc. (PINKSHEETS: TGGI) and its wholly owned subsidiary, Ecosafe Insulation of FL ("ECOFL") (www.ecosafeus.com), have signed an LOI with American Life Holdings Company, Inc. (OTCBB: ALFE) to acquire ECOFL from TGGI in a share exchange.

TGGI will retain an auditor to audit the financials of ECOFL upon completion of the audit and execution of the share exchange. ALFE will file a registration statement to register the shares for the exchange agreement.

"It is anticipated the audit of ECOFL shall be completed within 60 days followed by the registration statement which shall take approximately 90 days. Once the audit has been delivered, the share exchange shall be based on the closing market price of both companies," commented Mr. Losada, President of TGGI. Mr. Losada is also the President and majority shareholder of ALFE, acquiring controlling interest in ALFE in August of 2009 with the goal of merging ECOFL in to ALFE after approximately a year of incubation. All shareholders of TGGI shall receive registered free trading shares of ALFE in the exchange.

ECOFL attended its first trade show in Orlando last week with encouraging results. The booth had steady traffic and Company representatives will be following up on all leads generated on the new foam and installer packages.

ECOFL is acquiring Ecosafe Premium Foam® from American Green Group, Inc. (PINKSHEETS: AMNE). The Company believes all other remarks made in the release to be accurate to the best of their knowledge.

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

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