HYBE Hybrid Energy Holdings Inc (CE)

Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) announced today the Company's Chairman and CEO has tendered his resignation, effective immediately. Mr. Welch suffered a sudden and major family tragedy preventing his performance of any professional duties. As a result, many of the company's current initiatives, prior investments' future income, and ongoing technological development and design work may not succeed as anticipated, if at all.

The company will adjust its operations to lines of business with existing operations and existing support and development personnel not reliant upon the continued involvement of the CEO.

The Company will focus its operations and business development exclusively on the expansion and distribution of its heavy-oil extraction technology.

All prior operations, assets, and designs dependent on the CEO will be either divested or placed on hold for the foreseeable future or until such time as the company can obtain the necessary research and development resources.

The CEO has agreed to waive all accrued deferred compensation and future royalties and other anticipated incomes. He has waived any rights or claim to equity in the company.

About the Company and its Heavy Oil extraction technology:

The Company's proprietary Visalo technology is a unique nascent production and extraction method that dramatically increases recovery rates to 90% or higher at substantially lower entry costs in the heavy oil production industry. The Company believes its Heavy Oil Extraction technology will set the standard in a market with no clear-cut extraction/production standard.

The Company believes Heavy Oil is an up and coming energy resource aggressively being sought as the world's energy demand increases. As technology continues to improve, this once costly energy source is quickly becoming a more viable alternative.

The Company earns revenues from the extraction and recovery of 'heavy oil' reserves from existing wells not in active production. The Company licenses the technology to joint venture recovery projects.

The company maintains its web site at: www.HybridEnergyHoldings.com

Safe-Harbor Statement

This release contains statements or projections regarding future performance that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's filings contain various RISK FACTORS (and are incorporated on the Company's website "Investors" section by reference) and should be read before any investment decision.

Contact: Investor Relations Tel: +1 (775) 636-7602 Fax: +1 (775) 996-7330 info@HybridEnergyHoldings.com