American Vantage Companies Resumes Standing as an Operating Company Under the Securities Exchange Act of 1934

LAS VEGAS, May 3 /PRNewswire-FirstCall/ -- American Vantage Companies ("AVCS" or the "Company" (Pink sheets: AVCS) www.americanvantage.com) today announced that the Securities and Exchange Commission (the "SEC") has issued an order, effective April 30, 2010, deregistering the Company from the Investment Company Act of 1940 ("1940 Act").  As a direct result of the deregistration from the 1940 Act, the Company automatically resumes its standing as an operating company registered under, and filing reports pursuant to, the Securities Exchange Act of 1934.  Accordingly, commencing with the fiscal quarter ending June 30, 2010, the Company will make filings, including Forms 10-K and 10-Q, under the Exchange Act.  The deregistration is subject to the condition that the Company file with the SEC, on or prior to January 31, 2011, its Form N-SAR and Form N-CSR, each for the period ended December 31, 2009.  As previously announced, the Company's stockholders have also approved the 1940 Act deregistration.

The Company's web site is located at www.americanvantage.com.

American Vantage Companies continues to pursue potential strategic acquisition and development opportunities in industries that include gaming and hospitality, lifestyle and recruiting and/or temporary placement.

Certain statements in this press release are "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.  Such forward-looking statements may be identified by words such as "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology.  Such statements and all phases of American Vantage Companies' operations are subject to known and unknown risks, uncertainties and other factors, including overall economic conditions and other factors and uncertainties as are identified in American Vantage Companies' Form 10-KSB for the year ended December 31, 2005 as well as the Company's filings under the Investment Company Act of 1940.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.  American Vantage Companies' actual results, levels of activity, performance or achievements may be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.  The Company undertakes no obligation to update the forward looking statements in this press release.

SOURCE American Vantage Companies