HESV Home Energy Savings Corp (CE)

Home Energy Savings Corp. (PS:HESV), a leading provider of energy-efficient home improvement products and services, today announced that it has entered into a settlement and release agreement with Stateline Ford, Inc., Stateline Realty L.L.C. and related parties. Home Energy Savings Corp (formerly known as Elite Flight Solutions) and the Stateline parties have agreed to settle fully and finally their disputes related to the litigation commenced by Elite Flight Solutions in February of 2006. Under the terms of the agreement, Home Energy�s portion of the settlement amount is approximately $175,000. Bruce Edwards, Chairman and CEO of Home Energy Savings Corp. stated that "We are pleased that this issue is now closed; the settlement allows us to focus our efforts on the issues more closely related to executing our business plan." He added that �the settlement amount may also afford us an opportunity to restructure some of the existing debt on our balance sheet.� 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. Through its subsidiary, MLI Capital Group, Inc., the Company also creates cross-selling opportunities by offering home owners a broad range of mortgage services and home improvement financing options. 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. 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.