December 17, 2008 12:30 ET

AMNE Announces Record Date for Preferred

NEW HAVEN, CT--(Marketwire - December 17, 2008) - American Green Group, Inc. (PINKSHEETS: AMNE) announced today that it has selected January 23, 2009 as the record date for the preferred stock dividend announced a few weeks ago. This will give the Company plenty of time to close the Paradigm transaction and create the new Preferred to be used as the dividend.

AMNE will be creating a special class of Preferred stock that will be issued to all shareholders of record on January 23, 2009, the record date. The Preferred shares can be converted into common stock after One year at the rate of Five Common shares for every One Preferred redeemed. AMNE shall issue One Preferred for every 20 shares of Common owned on the record date.

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.