PGI Energy, Inc. (PGIE)

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PGI ENERGY LETTER TO SHAREHOLDERS

PGI ENERGY, INC.

HOUSTON (PRBuzz.com) March 1, 2012


PGI Energy announces change in management. The board of directors has accepted the resignation of Marcellous S. McZeal as CEO, Chairman, and Corporate Counsel. Both Marcellous McZeal and Robert Gandy have agreed to return all of their personal shares owned to the transfer agent for cancellation to treasury. Both executives agree they should accept a loss as some of our shareholders. Pythagoras Group/Robert Gandy has agreed to amend its contract with the Company and take no commission for capital raises as none have been paid today. Pythagoras Group and Robert Gandy further agreed to forgive any remaining debts owed to them by the company. The Company is cooperating to provide requested information to the SEC to resolve the matter. The company has received numerous calls regarding when the trading will resume for the company stock. It is our understanding that it should resume trading on or about March 08, 2012. We regret that any of our shareholders have suffered from these recent events. The Company is focused on turning around its business model. The Board has adopted a resolution appointing Roger A T Smith as interim CEO, to help turn this company around. Roger A.T Smith has been a board member of PGI. Mr. Smith has over 30 years oil and gas drilling, completion, work over and production experience with a B.A. in Mechanical Engineering. Mr. Smith is the CEO of The Sanday Corporation (a private company) which provides drilling services and advisory to oil majors. Mr. Smith has been an advisor to Petrohawk and K&M Technology Group. He has provided consulting review for the acquisition targets of PGI Energy, and is an invaluable resource to the board. The Sanday Corporation has been selected for the 2011 Houston Award in the Real Estate / Oil & Gas Investments category by the U.S. Commerce Association (USCA).

About us

PGI Energy Holdings International, Inc is an energy holding company, a Canadian company headquartered in Houston, Texas. The company's purpose is to acquire assets in the proven producing oil, gas assets, refinery, pipeline sectors of the energy industry and other synergistic assets.

PGI has formed several partnerships to grow its core business organically through strategic alliances diversifying its interest in green energy through biomass production, waste to energy, wood pellets production, syn gas, bio char production and plastics to synthetic crude. PGI has several core divisions which provide support to its operations and customers such as PGI Energy Transportation & Logistics, PGI Energy, Inc., PGI Green E & P and PGI Energy Trading.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "intends, "plans," "should," "seeks," "pro forma," "anticipates," "estimates," "continues," or other variations thereof (including their use in the negative), or by discussions of strategies, plans or intentions. A number of factors could cause results to differ materially from those anticipated by such forward-looking statements, including those discussed under "Risk Factors" and "Our Business." Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons.

For more information visit: WWW.PGIEnergy.us or WWW.PGIEnergytransportation.com

Media/Investor Relations

Robert Gandy, Sr.

[phone] Ext. 103

Email: [e-mail]

http://www.prbuzz.com/energy/59210-pgi-energy-letter-to-shareholders.html



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