Renewable Energy Company Acquired

Evening Star Hotels, Inc. has acquired 100 percent of NuEnergy Industries Corp., a Long Island, New York based manufacturer, distributor, consulting, research and development firm specializing in the field of alternative energy products.

Bohemia, New York – February 17, 2003 [SolarAccess.com] Evening Star Hotels, Inc. has acquired 100 percent of NuEnergy Industries Corp., a Long Island, New York based manufacturer, distributor, consulting, research and development firm specializing in the field of alternative energy products and owner of the intellectual property, patent, development, marketing and distribution rights of the patent pending Thermal Electric Generator (TEG). The new Board reports that it has received approval from the State of Delaware to change the name of the newly reorganized public company to NuEnergy Group, Inc. to better reflect the Company’s new business focus. Moreover, the company has received regulatory approval of its application for a new trading symbol to correspond to its new name. Mr. Hector M. Guevara, who as founder of NuEnergy and inventor of the TEG owns and controls over 71 percent of the issued and outstanding NUER common shares, now serves as NuEnergy Group, Inc.’s Chairman, President and Chief Executive Officer. “This important milestone provides us with the corporate ability to aggressively pursue our stated primary mission – to produce and distribute energy related products that will hopefully reduce global demand for and utilization of fossil fuels, which will, it is anticipated, enhance our profitability,” said Guevara. “We can now focus on completing our TEG prototype and building on our core annual revenue stream of US$600,000, which comes from subcontracting services performed on behalf of an affiliated company, through our own product and service distribution and revenue generating acquisitions.” NuEnergy’s TEG, short for Thermal Electric Generator, is a patent pending Renewable Energy device that management believes is a breakthrough technology that may conceivably alter the local and global energy landscape by reducing global dependence on the demand and utilization of fossil fuels. The TEG is a solid-state module; similar in appearance only to the photovoltaic (PV) modules we currently see and use to convert radiant and diffused light into electricity. The TEG modules, however, work on a completely different, and much higher, principle of efficiency of conversion of heat into electricity. TEG will work in the dark or under light, as long as there is conductive, convective, or a radiant heat source to create an excitation of electrons producing a chain reaction that results in the usable flow of electricity. In over simplified layman’s terms, NuEnergy’s research and development to date suggests the TEG can convert heat from just about any source directly into usable electricity. It is hoped that this feature will facilitate rapid early market penetration as a cogeneration device in many applications where excess heat capacity is now a wasted burden, such as beneath moving mass transit subway cars, furnaces and other heat producing equipment in industrial plants. NuEnergy’s R&D division has completed the research phase and is working with strategic partners from the private, public, and academic sectors in the development phase. Currently, development is at the bench testing materials stage, a process that management believes will yield a working prototype in 3 to 4 months. NuEnergy projects launching an initial market entry campaign for the TEG product early in the 1st quarter of 2004.
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