HESV Home Energy Savings Corp (CE)

Home Energy Savings Corp. (PINK SHEETS: HESV), a leading provider of energy-efficient home improvement products and services, today announced that it has entered into a definitive agreement to acquire MLI Capital Group, Inc., formerly known as Money Lenders, Inc. "The acquisition of MLI Capital gives us an immediate presence in the region and enables us to provide our customers with a broad range of home improvement financing services while creating opportunities for long-term relationships with homeowners," said Bruce Edwards, Chairman and CEO of Home Energy Savings Corp. "MLI is currently licensed in Virginia, Tennessee, and North Carolina and has applications filed in other key markets. This footprint overlaps perfectly with Home Energy and supports the continued roll-out of our business plan; allowing each new office to offer full service mortgage and lender services in addition to our home improvement products and services." Home Energy Savings Corp. has agreed to acquire MLI for a purchase price of $50,000; half of which to be paid in cash and half to be paid in the form of a twelve month promissory note. Jim Sexton, President and CEO of MLI, will continue as a consultant with the company to assist with the transition to new ownership and to focus on the development of the new business. Cross-Platform of Home Improvement and Financing Services Currently, approximately two-thirds of DreamHome�s home improvement business is being financed by the consumer. Of this financed sales volume, approximately 80% is in the form of unsecured installment loans and the remaining 20% in the form of secured mortgages. With the integration of a full-service mortgage broker and lender, Home Energy Savings Corp. will be able to offer a full range of secured and unsecured financing services tailored to the needs of each customer. This new relationship with the customer will immediately allow for increased home-improvement sales opportunities while creating both short term and long term lending opportunities. About Home Energy Savings Corp. Home Energy Savings Corp. provides the sales, installation, and financing of energy-efficient home improvement products and services. As part of a licensing agreement with DreamHome Remodeling, Inc. and through its subsidiary DreamHome Solutions, Inc., the company markets its �DreamSeries� product line throughout the Mid-Atlantic, guaranteeing homeowners up to 40% savings on their existing home energy consumption. Forward-Looking Statements Any statements in this press release about future expectations, plans and prospects for the Company, including statements containing the words "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in our most recent Quarterly Report on Form 10-Q filed with the SEC (a copy of which may be accessed through the SEC's website at http://www.sec.gov). In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.