American Vantage Companies Announces Re-Election of Two Board Members and Stockholder Approval for Re-Registration as a 1934 Act Company

LAS VEGAS--(BUSINESS WIRE)--American Vantage Companies (“AVCS” or the “Company”) (Pink Sheets: AVCS) (www.americanvantage.com) today announced that at the Company’s annual meeting of stockholders, held on November 14, 2008, the stockholders re-elected Steven G. Barringer and Jeanne Hood to the Company’s Board of Directors and approved the deregistration under the Investment Company Act of 1940 (“1940 Act”), which would have the effect of re-registering the Company under the Securities Act of 1934 (the “1934 Act”).

During 2008, the Company determined that it no longer held 40%+ of its total assets in investment securities, and as such, could requalify as a registrant under the “1934 Act.” The deregistration of the Company from the 1940 Act is a two-step process: (i) stockholder approval; and, (ii) Securities and Exchange Commission approval.

“The return to a ‘1934 Act’ company will provide our stockholders with consolidated financial statement information, rather than unconsolidated net asset information, to assess their investment in the overall company,” said Anna M. Morrison, Chief Financial Officer of AVCS. “In addition, our stockholders will also benefit from MD&A, critical risk factor disclosures and Form 8-K reporting that are not required under the 1940 Act.”

The Company will file for SEC approval of the 1940 Act deregistration before November 30, 2008. Upon SEC approval of the deregistration, the Company currently anticipates filing its public company reports under the 1934 Act during the first quarter of 2009.

The Company’s web site is located at www.americanvantage.com. Write to info@americanvantage.com to request information via e-mail.

American Vantage Companies continues to pursue potential strategic acquisition and development strategies in industries that include gaming, lifestyle and recruiting and/or temporary placement. However, no assurance can be given that the Company will successfully acquire other businesses or, if acquired, that such businesses will prove to be profitable.

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.

American Vantage Companies
Ronald J. Tassinari, 702-227-9800
Chairman, President and Chief Executive Officer
or
Network 1 Financial Securities, Inc.
Damon Testaverde, 732-758-9001
Managing Director