NuState Announces Changes in Officers and Directors

COLUMBIA, S.C., Aug. 12 NuState Energy Holdings, Inc. (Pink Sheets: NSEH) announced today that Richard Hersh has resigned as Chairman of the Board and Chief Executive Officer. Long-standing shareholder Kevin Yates was appointed as the new Chairman of the Board, and George Stevens was recruited as the new Chief Executive Officer.

Kevin Yates has been a shareholder with NuState for seven years. For the past 10 years, he has built new technology companies and repaired troubled ones. He has been actively involved in the Medical IT field for 23 years. He has worked with Global Leaders Cerner Corporation and McKesson, setting up national distribution networks for each of them. Currently, Yates is serving as CEO of three companies and working on the development of a new company specializing in sports analytics. Yates has the drive and passion, along with the commitment to turn companies around.

For over 35 years, George Stevens has been involved in mergers and acquisitions, start-up companies and the restoration of troubled businesses. From 1971 to 1986, Stevens worked for American-Standard, where he rose to President of a division and was a pivotal player in purchase of Trane. He then founded Stevens Information Systems, specializing in information technology, focusing on asset control and fulfillment of retirement plans for individuals of Fortune 500 companies. Stevens currently serves as Chairman or CEO for six publicly- and privately-held companies.  Stevens Resource Group, founded by Stevens in 2005, maintains an extensive 'finder' network throughout the United States, Asia, Europe and the Middle East. This allows him to identify emerging markets and investment opportunities through its vetting sources within these regions.

The first plan of action for the new executive team is to re-structure the onerous debt burden and the overly complicated equity positions that prevented the company from attracting new investments. The new executive team has started to arrange additional funding, included in the re-structuring objectives. The team has made progress with initial negotiations with creditors and shareholders and continues to receive positive feedback.

The second priority is to bring the company up-to-date on its regulatory filings to re-establish NuState's listing on the Bulletin Board. Thirdly, Yates and Stevens will develop a strategic plan to focus the company in a new direction involving exciting commercial opportunities.

"As a long-standing shareholder of the company, I fully appreciate the major challenges that our new management team must confront," stated Yates. "We are confident that our re-structuring objectives will be achieved, including the arrangement of additional funding. Through organic growth and acquisitions, we intend to build an aggressive but financially sound business. Our overall goal is to create value for those shareholders that have supported the company through its difficult years."

As the company achieves these set milestones, the performance will be communicated through an active investor relations program designed to inform current shareholders and attract new investors. Current shareholders and potential investors are invited to sign in to the investor section of the newly launched NuState website www.nsehco.com.

For more information about NuState, logon to www.nsehco.com or call the new headquarters at 803-748-1309. The new headquarters are located at 1201 Main Street, Suite 1980, Columbia, S.C. 29201.

Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's Forms 10-K and 10-Q filed with the SEC.

SOURCE NuState Energy Holdings, Inc.