American Hydrogen Corp. Not In Default; Working on Joint Ventures for Major Developments

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Message #45
From: NewsBot
Date: May 29, 2008 02:30:17 PM

American Hydrogen Corp. Not In Default; Working on Joint Ventures for Major Developments

Ben Schafer, President of American Hydrogen Corporation, a subsidiary of American Security Resources Corporation (OTCBB: ARSC), stated today, “Contrary to a statement in ARSC’s most recent 10-Q, we are NOT in default on our license agreement with Ohio University. While our sister company Hydra Fuel Cell Corp. was fighting its patent lawsuit we fell behind in our obligations here, but we are working with Ohio to bring them current by the middle of the summer.” Schafer further stated, “We are negotiating several JV projects to commercialize the ACE technology, including the development of a 250 kilowatt ACE unit and several waste to energy projects.”

American Security Resources Corporation

ARSC is a holding company actively seeking to acquire companies and technologies that will advance the development of clean energy. ARSC, through its Hydra subsidiary, is developing high volume, mass producible hydrogen fuel cells. Its American Hydrogen subsidiary holds an exclusive worldwide license granted by Ohio University (www.ohio.edu) to commercialize an ammonia-to-hydrogen technology developed by Dr. Gerardine Botte of the Russ College of Engineering at Ohio University. For more information, please see: www.americansecurityresources.com

Safe Harbor Statement

This news release contains certain “forward looking statements” within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations.

American Security Resources Corporation
Frank Neukomm or Bob Farr, 713-465-1001
info@amsrcorp.com

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