Ness Energy Acquiring New Operational Properties; Takes Over Portfolio of New Texas Assets

WILLOW PARK, TEXAS, U.S.A./ NETANYA, ISRAEL: October 29, 2003, 2003/PRNewswire-FirstCall/ -- Ness Energy International, Inc. (OTC Bulletin Board: NESS) announced, as part of its domestic pursuits, it is completing several new property acquisitions, significantly increasing the number of projects for the Company to peruse, both new drilling and workover and establishing a foundation to generate cash flow needed to continue Ness Energy's vision for Israel.

Increase Means Building Value

According to President Stephens, "Ness announced last week it would undertake numerous property acquisitions. Ness also announced that it would keep shareholders advised. Now we are happy to confirm both statements, realize, however, we are just beginning."

Since taking office earlier this year, President Stephens has presented for consideration, and is now committed to supply Ness, several property interests in Texas, with existing production and additional pursuits, both drilling and workover, not to mention the additional leases that accompany them and stand alone.

These properties have the potential to produce substantial production for Ness. This will, in time, build a strong domestic foundation of assets, reserves and cash flow, while adding "numerous" domestic projects, each with one goal: to be used to see that the vision for Ness Energy comes to pass.

While cash flow is increased, shareholder value is increased as Ness builds its balance sheet with new assets. According to President Stephens, "Building up our Company means increasing the shareholder value. As new assets are put in the Company, they will be used to generate cash flow for Ness. The stronger our foundation as an oil and gas company, the stronger position we take in funding negotiations, which allows us to take the funding and turn it back into the Company for additional acquisitions, workovers, drilling etc. it all makes a loop, with the loop continuously growing."

Property Background

These property interests are located west of Dallas, Texas within proximity of the Company corporate headquarters, spread out over several counties. President Stephens acquired these various properties starting over ten years prior, at a time when the price of oil was in the 'teens and natural gas was under $1.50. per mcf. Careful attention was paid to the selection and acquisition of these assets from others, to build a strong portfolio of select assets. At the time, others in the industry were shortsighted and did not realize they were undervalued, now, acreage adjoining these properties have sold for as much as $300.00 an acre. While the Company completes the acquisition with final details, including consideration, the properties are already, and have been since June 1st, in use by Ness as part of President Stephens' commitment to Ness.

The properties are: the remaining 50% interest in about 3,000 acres in Parker County, known as "The Old World Prospect," where Ness is already in operation (Lester B#1), the results of which are to give Ness a 100% interest doubling the monthly potential income from this income stream; this is further supplemented by the transfer of the monthly operational fee that Ness was paying in effect converting an expense to a benefit; and the Leonard #1 and the Ellis B#3, which consists of 400+ acres and a total of 8 wells to be reworked in Palo Pinto County, supplying Ness with a 100% interest in these properties, along with additional lease acreage in both Parker and Palo Pinto Counties.

Other News

Ness is preparing, given a pending Israeli acquisition now in the contract negotiation stage, to supply its draft of the contract to the Israeli sellers, and President Stephens is preparing to travel to Wall Street for meetings early this coming week, with news on these and other events, including the major Texas well efforts of this past week, to be released shortly.

About Ness-The Vision

The current business of the Company is focused upon development and execution of oil and gas exploration plans with a focus both on pursuits in the oil rich State of Texas, and also in the Middle East, specifically Israel. Ness believes that Israel is a place "where science and The Bible shake hands" and that Ness will achieve the vision of the location and recovery of an abundant source of oil and gas in Israel to supply Israel and the Christian communities with supernatural wealth.

Certain Information

Certain statements in this news release may contain forward-looking information and are based on Management's current expectations, estimates and projections subject to change. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "estimates" and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements. Unless legally required, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The Company disclaims any information that is created or distributed by any outside party and endorses only information that is communicated by its official Press Releases.

Further Information

CONTACT: Mary Gene Stephens, Executive Secretary of Ness Energy
International, Inc., 1-817-341-1477