updated 5/24/2011 2:17:06 AM ET 2011-05-24T06:17:06

CLEARWATER, Fla., May 24, 2011 (GLOBE NEWSWIRE) -- As previously announced, ALAS (Pink Sheets:VDSC) has acquired in a stock only exchange, 100% of the shares and assets of SAENZ CORPORATION, a Delaware corporation, and its $20 million in assets.

SAENZ has offices in Ft Lauderdale, England, Greece and Turkey, operating successfully and profitable for 25 years in the Mediterranean area chartering their own fleet of yachts.

SAENZ Super Yachts, a Delaware corporation merged with ALAS International Holdings, Inc., a Nevada corporation to strengthen the combined companies.

SAENZ owners and managers are operators and builders of mega yachts and at the present time have two mega yachts under construction that are 41 meters and 50 meters which were designed by Dubois.

The 50 meter new construction will be equipped with a new generation of our designed electric propulsion system, an innovation that will save fuel consumption and is classified as being in compliance with Green Energy Rules.

The merger brought together a team with leadership and executive experience in the public market combined with extensive Maritime expertise in yacht construction, operation and engineering:

Captain A. Karavias, President and founder of SAENZ served as a Captain in the Navy for fifteen years, a ship owner for over 40 years that included several freighters and tankers. He also has owned mega yachts for over 40 years and recently built five super yachts of 32 and 41 meters.

Graduated with Honors Southampton University

Holds License of 1st Captain Merchant Navy,

Trustee for 25 Years of New York Eye Ear Hospital

Trustee of The Cathedral of St. John the Divine of New York

Trustee of New York Skin Cancer Foundation

Peter Villiotis, CEO of SAENZ, has served for the last 18 years as Director of Technical operations of Carnival Cruise Line, and brings his engineering and maritime experience to guide SAENZ.

Ph.D. Engineering (masters) – Metsovion Polytechico, Athens, Greece

Class "A" Chief Engineer Degree – Merchant Marine Academy, Aspropirgos, Elefsis, Greece

Bachelor Degree, Marine Surveyor – Lloyd's Maritime Academy, London, United Kingdom

Edwin B. Salmon – ALAS, Chief Executive Officer and Director. 

Mr. Salmon has over forty years of experience in the financial and business world. He has been involved in funding and the operation of both public and private companies.

Mr. Salmon held several executive positions at Honeywell Information Systems, Inc.

Education included University Of Richmond Accounting and while at Honeywell attended many Sales and Marketing Seminars.

Alvin Ayers - Chief Financial Officer and a Director.

Alvin has over 40 years combined experience in senior level management, finance, sales and marketing, of which 30 years is in the computer industry while employed at IBM, Honeywell and America Online.

As a Regional Director at Honeywell, he held financial marketing and revenue responsibility for 13 states, 43 offices and over $150 million per year.

University of Iowa Business

Edwin Salmon, ALAS CEO stated, "The members of this leadership team are also members of the Board of Directors of ALAS and SAENZ corporations and I look forward to working with them."

About ALAS International Holdings, Inc.:

ALAS International Holdings, Inc., a Nevada corporation, is an international project financing and holding investment corporation, which owns and operates through its wholly owned subsidiary, Redtide Defense Group, Inc. ( http://www.redtidedefense.com/ ) which is a manufacturer of UAV (Unmanned Aerial Vehicles. The Company is looking to grow both organically and through strategic acquisitions.

Safe Harbor Act Disclaimer: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

CONTACT: Investor Relations
         Edwin Salmon
         727-736-4724
         edwin.salmon@gmail.com

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