25th August 2009

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

 Convertible Loan Stock Partial Redemption  

Update on Land Valuation 

AMZ Holdings plc announces that, pursuant to the terms of its £5.0 million Convertible Loan Stock issued on 25th April 2008 and due 2011 (the 'Loan Stock'), it has received notice from two holders seeking partial redemption of the outstanding Loan Stock on 24th October 2009 of an amount totalling £1.6 million. This is in line with the principal terms of the Loan Stock, where holders were able to elect for repayment of the Loan Stock after 18 months from the date of issue.

The Company is actively engaged in raising capital and is confident that it will meet both its redemption obligations and raise sufficient working capital to fund the Company's ongoing activities.   A further announcement related to this will be made when appropriate.

The Company also announces that it has commissioned CB Richard Ellis (Hong Kong) ('CBRE') to value the Company's real estate property assets in Taiwan. The Company has received notice from CBRE that the current value of the Company's real estate property assets is USD $46.2 million. This is higher than the preliminary June 2008 REPro/Cushman & Wakefield valuation of USD $44.9 million undertaken to evaluate the Company's strategy to improve the landholding entitlements in preparation for the potential gaming enablement of Penghu.  The REPro/Cushman & Wakefield valuation report and the current report from CBRE do not take into consideration the prospective increase in land values relating to the legislation which should enable the construction of integrated casino/report properties on the island of Penghu, Taiwan. 

The Company is the largest private landholder on Penghu, and the Company has completed a multi-year process of receiving entitlements to construct a five-star resort.

The Taiwanese legislature passed legislation earlier this year legalizing gaming for the offshore islands subject to a local referendum which will take place on 26th September 2009. The Company anticipates that the referendum will be favourable, and that Penghu will be, thereafter, designated as the location where gaming resorts are to be established.    

- Ends -

For further information please contact:

Website: www.amzholdings.com