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 all terms related to its sale of subsidiary American Air Network Alaska (AANA) have been fully satisfied. The company originally announced the sale of one of its subsidiaries, AANA in September of 2006. The purchase price of the sale was set at $100,000 and the terms of the transaction included $25,000 in cash and a secured promissory note in the amount of $75,000. Having now received final payment of the remaining principal and interest, the terms of the promissory note have been fully satisfied. Bruce Edwards, CEO of the Company, stated �the AANA subsidiary was not part of our core business and it makes perfect sense for us to divest the asset at this time, and use the proceeds to help us execute our business plan.� He added that �this recent payment, along with a settlement amount we received last month, may also afford us the 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.