ALAS Has Entered Into a Reverse Merger With PV Enterprises, Inc. Under the Leadership of Peter Villiotis

CLEARWATER, Fla., Nov. 7, 2011 (GLOBE NEWSWIRE) — ALAS International Holdings, Inc. (Pink Sheets:VDSC) announces it has entered into a reverse merger with PV Enterprises, Inc., a Florida corporation.

PV Enterprises is an 11 year old ship management company specializing in repair, redesign and maintenance of ships. PV has just completed a contract worth over 5 million dollars for the overhaul of the Victory Casino ship. Thus far in 2011 PV Enterprises has contracts under management valued at over 38 million dollars. Gross revenue to PV is in excess of 3 million dollars. PV has
been profitable for the last 3 years with revenue increases of 50% per year.

Peter Villiotis was 100 % owner of PV Enterprises prior to the reverse merger as well as CEO of SAENZ Corp., which was acquired by ALAS International Holdings in May of 2011. Peter Villiotis is now the majority shareholder of ALAS which consists of: PV Enterprises, SAENZ Corp and Red tide Defense Corp. Peter Villiotis now assumes the position of President/CEO and Chairman of the
Board of ALAS. Mr. Salmon has resigned but remains as a Director and Corporate Treasurer.

Peter Villiotis’ whole life has been devoted to the shipping and cruise industry. With his knowledge and expertise, he strongly believes that these two industries have not been impacted by world events. By concentrating solely on the shipping and cruise industry, it will allow the company to take advantage of these dynamic industries. Mr. Villiotis also represents the Belize Registrar in the USA; he recently formed Belize Register of Shipping Inc., Florida Corporation, to promote business in the Shipping and Yachting industry.

Peter is also a member of The Society of Naval Architects & Marine Engineers, SNAME, and was recently nominated as the professional engineering of the year 2011 from Cambridge University.

He is a member of the Association of Parthenon Sculptures USA and the Hellenic American Chamber of Commerce.

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

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