Star Energy (OTCBB:SERG) filed a RICO (Racketeer Influenced and Corrupt Organization Act) lawsuit in “United States District Court” (Southern District of New York) against RSM Top Audit (Moscow), RSM International (London), selected principals of the audit firms, and other individuals. Star is alleging a pattern of racketeering that has targeted the financial markets of the United States. RSM is one of the top seven international accounting organizations world-wide.

The suit claims a pattern of conspiracy between individuals at RSM and a number of outsiders who falsified audits of Russian companies for the purpose of raising capital in the United States capital markets. Star is seeking damages in excess of $16 million dollars.

Patrick Kealy, President and CEO of Star Energy said: "Having been involved in global capital markets for over thirty years, this is the first time that I have witnessed such behavior exhibited by individuals at an audit firm. It is a sad occurrence when a few individuals tamper with a structure that is the cornerstone of our US capital markets system. We intend to vigorously pursue this case to its resolution, not just to protect Star Energy shareholders, but also to assist in protecting the shareholder public at large."

About Star: Star Energy Corporation is a U.S.-based public entity engaged in acquisition, exploration, and development of oil and gas deposits in Eastern Europe and CIS. The company’s goal is to provide Western investors with access to a portfolio of natural resource licenses and operating companies. Additional information can be found at www.starenergycorp.com.

Safe Harbor Statement: A number of statements contained in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the recovery of oil and gas resources, the successful completion and integration of prospective acquisitions, competitive market conditions, and the ability to secure sufficient sources of financing. The actual results Star may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Star encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB and Form 10-QSB. Star's public filings may be viewed at www.sec.gov.

Star Energy Corp.
212-500-5006
Fax: 212-968-7691
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Elena Furman, 917-202-1445