Laidlaw Energy Group, Inc. Announces Update On New Hampshire Renewable Energy Project

New York, NY - Laidlaw Energy Group, Inc. announced recently that it has received a positive decision from the Connecticut Department of Public Utility Control concerning its proposed development of a 16mW biomass energy plant located in New Hampshire. The decision confirms that the project qualifies as a class 1 renewable energy source pursuant to the Connecticut Renewable Portfolio Standard, subject to applicable emissions limits. This is necessary step in the development of the project that clarifies that the project should qualify for additional revenue from the sale of renewable energy credits ("RECs") generated in connection with the sale of the plant's electric output. RECs represent the premium paid for cleaner energy generated from renewable resources in addition to payments for the plant's electric output and capacity. The project is a joint venture between Laidlaw Energy and EcoPower, LLC and involves the modernization of an existing biomass energy plant.

Laidlaw Energy also recently announced a 10 for 1 forward stock split of the Company's common shares. Each shareholder of record at the close of business on September 8, 2006 will receive nine (9) additional shares for every outstanding share held as of the date thereof. The payment date for the additional shares will be September 9, 2006, with distribution of the new shares to occur on or about September 12, 2006.

SOURCE: Laidlaw Energy Group, Inc.