Laidlaw Energy Group, Inc. Issues Shareholder Update

NEW YORK--(BUSINESS WIRE)--Laidlaw Energy Group, Inc. (Ticker Symbol “LLEG”) is pleased to provide its shareholders with the following update.

Dear Laidlaw Energy Shareholders and Friends:

I am pleased to announce the we have made significant progress in terms of closing the acquisition of the former Fraser Pulp Mill assets located in Berlin, NH, as well as the related financing.

I want to assure everyone that things are progressing well, however, the legal issues related to the acquisition are simply taking longer than expected. Accordingly, we expect to shortly execute a 30 days extension of the Asset Purchase Agreement related to this acquisition, which we feel will provide sufficient time to address the remaining legal issues and close the acquisition and financing.

All of the parties involved in this transaction and financing remain committed to closing as soon as possible. While we recognize that the recent turmoil in the financial markets may have caused some concerns about the financing of this transaction, I can assure you that current market conditions have not had any impact on this transaction. This is simply a matter of needing a little more time to complete a fairly complex deal.

I look forward to writing to you again soon to update you on the closing of the Berlin acquisition, as well as a new project we expect to roll out very shortly with a major global financial partner.

Very truly yours,

Michael B. Bartoszek

President & CEO

About Laidlaw Energy Group, Inc.

Laidlaw Energy is engaged in the development of independent power plants that generate electricity from renewable resources, with a particular emphasis on biomass power. LLEG's mission is to build and manage a profitable portfolio of biomass facilities through the development of new facilities and acquisition of existing facilities, and in so doing become the leading supplier of biomass power in the United States. Laidlaw Energy is headquartered in New York, New York. For more information, please visit our website at www.LaidlawEnergy.com.

This communication contains statements expressing expectations of future events and/or results which may include, without limitation, statements concerning anticipated financial performance, business prospects, technological developments, potential markets, new products, research and development activities and similar matters. Such statements constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. All statements based on future expectations rather than historical facts are forward-looking statements that involve a number of risks and uncertainties, and Laidlaw cannot provide assurance that such statements will prove to be correct. Laidlaw undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Laidlaw Energy Group, Inc.
Edward D. Meyers, 212-480-9882
info@LaidlawEnergy.com