VINELAND, N.J., Aug. 22 /PRNewswire-FirstCall/ -- AUGRID Global Holdings Corp. (Pink Sheets: AGHD - News), a holding company that acquires and manages ownership interests in a diverse range of businesses, today announced that it has decided, together with Hassell & Burell, to discontinue plans to form a joint venture, previously announced on June 13, 2007, that would have purchased and operated oil tanker trucks. Neither the Company nor Hassell & Burell have a dispute with the other.

MJ Shaheed, CEO of AUGRID Global Holdings Corp., stated, "We intend to pursue another opportunity related to fuel transportation in the future. We believe that this business segment still presents a good fit for AGHD's shareholders."

About AUGRID Global Holdings Corporation

AUGRID Global Holdings Corporation is a holding company that seeks to increase its asset base and shareholder value through the acquisition of private companies in diverse industries that have proven revenue generation abilities, defensible business plans, and a product or service to which its target market has demonstrated receptiveness.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AUGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "should," "likely," "expects," "anticipates," "estimates,"believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AUGRID Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to AUGRID Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AUGRID Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AUGRID Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: MJ Shaheed, AUGRID Global Holdings Corp., (856) 205-0856 Source: AUGRID Global Holdings Corp.