HOUSTON, Oct. 16 /PRNewswire-FirstCall/ -- Exobox Technologies Corp. (OTC Bulletin Board: EXBX) (the "Company"), today announced that certain members of current management and shareholders have agreed to return to the Company 150 million shares representing approximately 32% of the total shares currently outstanding. (Logo: http://www.newscom.com/cgi-bin/prnh/20090508/LA13785LOGO) Based on the Company's current number of shares outstanding of approximately 458 million, the number of shares outstanding would be reduced to approximately 308 million, excluding any shares issuable pursuant to contemplated financings or through exercise of existing options and warrants. The return of the shares is subject to the closing of the Company's recently announced letter of intent to acquire 15 income-producing oil and gas wells in the Clinton and Marcellus Shale region in Ohio from a private oil and gas company on or before October 31, 2009. Kevin Regan, CEO of Exobox said, "I greatly appreciate the assistance of these shareholders for the return of these shares. This will be of great benefit to the company in terms of our ability to complete our recently announced letter of intent to purchase the income-producing oil and gas assets, as well as with the Company's future financing efforts. I'm very excited about this transaction and the future of Exobox." Cautionary Statement Relating to Forward - Looking Information for the Purpose of "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995. This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "estimate," "expect," "intend," "will," "should" and similar expressions, as they relate to us, are intended to identify forward-looking statements. These statements reflect management's current beliefs, assumptions and expectations and are subject to a number of factors that may cause actual results to differ materially. These factors include but are not limited to: the unprecedented volatility in the global economy; the risk that the future business operations of our software products and/or the oil and gas assets that are to be acquired will not be successful; the risk of due diligence by both parties may not be to the satisfaction of either party; the risk of our ability to close on the acquisition of the oil and gas assets; the risk that we will not realize all of the anticipated benefits from our acquisition of oil and gas assets; the risk that oil and gas prices may fall and negatively affect the value of the properties we intend to acquire and/or our ability to raise additional financing based on the value of these properties; actions of competitors; changes and developments affecting the software industry and the oil and gas industry; quarterly or cyclical variations in financial results; development of new products and services; interest rates and cost of borrowing; our ability to protect our intellectual property rights; our ability to maintain and improve cost efficiency of operations, including savings from restructuring actions; changes in economic conditions, political conditions, trade protection measures, licensing requirements and tax matters in the locations in which we do business; reliance on third parties for the provision of exploration and production services; and other factors that are set forth in the "Risk Factors" section, the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section and other sections of Exobox's Quarterly Report on Form 10-Q for the quarters ended April 30, 2009 and Exobox's 2008 Annual Report on Form 10-K filed with the Securities and Exchange Commission. Exobox assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law. http://www.newscom.com/cgi-bin/prnh/20090508/LA13785LOGO http://photoarchive.ap.org/ DATASOURCE: Exobox Technologies Corp. CONTACT: Kevin Regan of Exobox Technologies Corp., +1-713-625-7811 Web Site: http://www.exobox.com/

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