updated 10/20/2010 9:16:08 AM ET 2010-10-20T13:16:08

BALTIMORE, Oct. 20, 2010 (GLOBE NEWSWIRE) -- Kalahari Greentech, Inc. (Pink Sheets:KHGT) released an update today on the dividend of shares for its shareholders with a record date of October 18, 2010. On August 24, 2010, the Kalahari Greentech Board of Directors voted to issue a dividend of one share per each share owned issuable to shareholders of common stock with a record date of October 18, 2010.  

In accordance with new FINRA rules and regulations, Kalahari Greentech is obligated to change the record date, thus delaying the dividend issuance. Kalahari Greentech is currently in the process of submitting the new forms required by FINRA, whose final approval will allow the share issuance to be effective and set in motion. The new record date will be October 18, 2010.

Once approval is received from FINRA, all shareholders of record will receive a share certificate reflecting the issuance of their respective shares in accordance with the dividend. The brokers will receive shares for distribution to the NOBO shareholders.  

Additional announcements regarding the dividend will be supplied as soon as possible. Kalahari Greentech appreciates the patience and cooperation of its shareholders as this process is carried out.

Please visit Kalahari's website at www.kalaharigreentech.com to learn more about the company's latest innovations.

About Kalahari Greentech, Inc.: Kalahari Greentech Inc. is an energy company focused on developing, constructing and operating wind and solar energy projects, either on its own or in partnership with other energy companies. The company's main focus is to seek out opportunities to utilize its technology to develop renewable energy sources.

Forward Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.

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