TORONTO, Aug. 3, 2011 /PRNewswire/ – Since Jonathan Bryant was appointed CEO of
8000 Inc., the agenda has been to get the company back on track to
pursue the business opportunities that lay ahead. 8000 Inc. has
reviewed many possible solutions to address the current non-trading
status of the company. With shareholders’ interests driving the
analysis, a conclusion has been reached that the best way for 8000 Inc.
to move forward is to create a clean slate by acquiring a new trading
vehicle in the form of an existing, fully reporting company. Such an acquisition is the most expeditious mechanism to enable the
company and its shareholders to move forward and leave the past behind.

As such, a Stock Purchase Agreement (the “Agreement”) between 8000 Inc.
and the President of Fresh Start Private Holdings, Inc. (FSPH.pk)
(“Fresh Start”) has been agreed, reviewed by legal counsel and
signed. Under the Agreement, 8000 Inc. shall acquire the controlling
interest in Fresh Start. Fresh Start is a fully reporting corporation
that will be eligible to trade once its 2010 10-K annual report and
10-Q financials are filed with the SEC for 2011. A condition of the
agreement between 8000 Inc. and Fresh Start is that FSPH.pk is made
current and tradable on the pink sheets with a view to a QB or QX
quotation on the OTC Markets. The scheduled closing date of the
transaction per the Agreement is currently set for August 15, 2011.

Once this transaction is completed, Fresh Start will be a subsidiary of
8000 Inc. and therefore have fresh market appeal and allow for a new
beginning for 8000 Inc. In the future, the decision may be made to
bring EIGH.pk current so the 8000 Inc may allocate business operations
between Fresh Start and 8000, Inc.

Similar to the previously announced and still valid voluntary conversion
of common to preferred shares of EIGH.pk, current shareholders of both
EIGH.pk and FSPH.pk will have the option to either voluntarily convert
their shares from one to the other or to retain their current stock. If
a conversion is chosen, the shares shall be converted at a
value-for-value ratio that will be determined at the time of the
requested conversion. Please note that the 8000 Inc will only convert
the pro-rata number of EIGH.pk shares if conversion is requested by an
individual shareholder and upon the physical delivery of a valid
certificate.

A shareholder update with instructions is forthcoming, in which the
detail of the shareholders’ individual actions will be outlined.

8000 Inc.’s CEO, Jonathan Bryant, says, “This is a great opportunity for
the company and will allow 8000 Inc. to progress so it may realize its
contemplated institutional investment and commence its redefined
business focus. This is a solid way forward and in the best interests
of shareholders and the company.”

This news release contains forward-looking statements that are subject
to certain risks and uncertainties that may cause actual results to
differ materially from those projected on the basis of such
forward-looking statements. The words “estimate,” “project,” “intends,”
“expects,” “believes,” and similar expressions are intended to identify
forward-looking statements. Such forward-looking statements are made
based on management’s beliefs, as well as assumptions made by, and
information currently available to, management pursuant to the
“safe-harbour” provisions of the Private Securities Litigation Reform
Act of 1995. For a more complete description of these and other risk
factors that may affect the future performance of 8000 Inc., see
published disclosure documents at www.OTCMarkets.com Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date made and
the Company undertakes no obligation to disclose any revision to these
forward-looking statements to reflect events or circumstances after the
date made or to reflect the occurrence of unanticipated events.

SOURCE 8000inc.