Emergency Housing Agreement Between Smart Holdings, LLC and Mid-Gulf Recovery Services

Revolutionary housing technology company, Smart Holdings, LLC and Mid-Gulf Recovery Services, LLC of St. Rose, Louisiana announce the execution of a Letter of Intent for the purchase of 10 composite housing units for temporary housing application in the Hurricane Ike damaged area of Galveston, Texas.

The units will represent the first application of the technology for disaster response and represent an extremely efficient alternative to the FEMA Trailers. The Letter of Intent also reflects an option in favor of Mid-Gulf to purchase an additional 300 units during 2009.

"The proven and historical track record and commitment to efficient and timely disaster response are reasons we look forward to working with Mid-Gulf for application of Smart technology in emergency housing. Their record of efficiency after Katrina speaks for itself", said Smart Holdings Manager Phil C. Nugent.

Mid-Gulf strives for state-of-the-art efficient technology and maximum value delivery to its customers. The Smart housing units and the Smart Amerihome™ deliver versatility, energy efficiency, environmental quality, and cost effectiveness. As hurricane preparedness for the 2009 season will soon arrive, the Smart alternative to the FEMA Trailer will fit our model of most effective delivery to various markets.

In addition, Smart and Mid Gulf acknowledge that negotiations are progressing towards execution of Exclusive Agency for Mid Gulf for Southeastern US disaster markets for the Amerihome for Federal and State emergency housing applications; set to be finalized no later than February 1, 2009

About Smart Holdings, LLC: founded with the purpose of transferring proven technology from foreign markets to the US for increasing economic, energy, and environmental efficiency, Smart Holdings has emerged as a leader in the manufacturing of revolutionary housing systems. With applications varying from dorms, hotels, temporary housing to affordable housing, Smart is leading the way to a better habitation system for current and future generations.

About Mid-Gulf Recovery, LLC: since 1965, Mid-Gulf Recovery has responded to all major hurricanes in the Gulf Coast region, commencing with Hurricane Betsy and continuing with current responses to Gustav and Ike. After Hurricane Katrina, Mid-Gulf successfully completed multiple phases of disaster response and recovery including timely delivery through decommission of housing units. Mid Gulf Recovery is a wholly owned subsidiary of Magnolia Holdings, Inc. whose divisions include inland dredging, fuel supply, marine housing, transportation, and other various interests.

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