19th December 2008

AMZ Holdings Plc ('AMZ' or 'the Company')

Statement re gaming development in the Philippines

AMZ Holdings plc, the AIM listed hotel and leisure company seeking to build Taiwan's first world class hotel and casino resort, announces that following a period of due diligence, it will not pursue its' previously announced plans to develop a resort in the city of Puerto Princesa, Philippines with the Palawan Development Group at this time.

Michael Treanor, CEO of AMZ said:

 'We continue to seek investment opportunities in other emerging gaming markets in addition to our site in Taiwan, but always subject to viability and thorough due diligence processes. 

'We are very encouraged by the recent progress and the positive outlook of the legislative bill in Taiwan, which now seems to have found the political support to be finally completed.  We have our land secured and rights to build an international resort on our site in the Penghu Islands, and look forward to more positive developments regarding the legislative bill.'

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Website: www.amzholdings.com