HOUSTON, TX, Oct 03, 2008 (MARKET WIRE via COMTEX) ----The Court appointed Receiver of the assets of Eternal Technologies Group, Inc. has filed Motion in the United States District Court to hold the company in contempt of Court. The Motion states that, "Eternal Technologies' refusal to comply with the Court's loud and clear order to turn over assets to pay the $961,000.00 Judgment constitutes contempt of Court."

The Receiver was appointed to collect on the Turnover Order issued by United States District Judge Vanessa D. Gilmore on September 23, 2008, is to collect on the unsatisfied Judgment Western Securities Corporation has against Eternal Technologies Group rendered in the U.S. District Court of the Southern District of Texas, Civil Action Number H-O5-02504 on October 31, 2007.

The Receiver's motion also stated, "that the only way for this Court to send a message to Eternal Technologies that if it wants to do business in this country, it must obey the law of this country, is to begin fining Eternal Technologies $10,000 per day until such time as Eternal Technologies turns over its cash and stock interest as necessary to pay the Judgment."

The Receiver's Motion to hold Eternal Technologies Group in Contempt of Court stated:

 1. "The total amount
   due the Receiver to satisfy the underlying Judgment is in the present sum of $961,000.00 and is increasing daily due to the
   accrual of post-judgment interest and receiver's fees." 2. "The Over the Counter Bulletin Board, where Eternal Technologies
   is traded publicly, determined that the effect of the Receivership on Eternal Technologies was a 'material event' and should
   be disclosed to the public." 3. "The Court's loud and clear Order to Eternal Technologies was to turn over to the Receiver
   all of its cash, securities and share certificates to the extent necessary to satisfy the $961,000 Judgment. Eternal Technologies
   did nothing." 4. "The 10KSB/A that Eternal Technologies filed yesterday indicates that it had approximately $12,000,000.00
   in cash on hand and approximately $37,000,000.00 of working capital at the end of December, 2007." 5. "Based on Internet postings
   by Eternal Technologies it appears that it is more than able to pay the Judgment with no adverse effect on its operations
   or stock value." 6. "In its June 25, 2007 press release Eternal Technologies announced that it was going to repurchase as
   many as 2,300,000 of its issued and outstanding shares. However many of the shares were repurchased by Eternal Technologies,
   those shares are treasury shares of Eternal Technologies, they are within the scope of the Receivership Order and must be
   turned over to the Receiver." 7. "Eternal Technologies owns the following stock interests: 30% interest in Hainan Futian Green
   Agriculture Co., Ltd. 30% interest in Maoming Huatong Orchard Trading Co., Ltd. 100% interest in E-Sea Biomedical Engineering
   Co. 100% interest in Eternal Technology Group, Ltd. 100% interest in Willsley Company Limited 22% interest in Hong Yuan Acquatics
   Products, Inc." 

To satisfy the Judgment, "All of these stock interests of Eternal Technologies are within the scope of the Receivership Order and must be turned over to the Receiver. Eternal Technologies has failed and refused to turn over its stock interests to the Receiver, it is in violation of the Receivership Order and is in contempt of Court."

   Contact: Western Securities Corporation (504) 333-9098 

SOURCE: Western Securities

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