Mr. Brian Korney reports

CASPIAN ENERGY INC. ANNOUNCES SHARE ISSUANCES UNDER PREVIOUSLY ANNOUNCED DEBT SETTLEMENT AGREEMENTS

Caspian Energy Inc. has issued an aggregate of 3,138,240 common shares to William Ramsay, former chief executive officer and a former director of Caspian; Brian Korney, acting chief executive officer, and chief financial officer and a director of Caspian; and Gordon Harris, a director of Caspian. Such common shares were issued pursuant to three debt settlement agreements, announced by news release on July 10, 2014.