An Unfortunate Natural Disaster Presents a Necessary Opportunity to The Italian Oven

EL RAMA, NICARAGUA--(Marketwire - August 17, 2009) - The Italian Oven Inc. (PINKSHEETS: IOVE)
today released information pursuant to Securities and Exchange Commission
Regulation F.D. about its new subsidiary Richwood Eco Ventures, Inc.

Hurricane Felix devastated the coastlines of Nicaragua in late 2007 and
destroyed over three-million acres of virgin rainforest, knocking over
millions of trees. Initially, many companies and foreign governments vowed
to come to the rescue. Time passed, but most did not step up to the plate.

The exception is a group of companies that already had a foothold in
Nicaraguan timber and forest management including Rich Corporación (created
with support from the Ministry of Foreign Affairs of Denmark's DANIDA
program), and TECA de Nicaragua (TEKNISA).

Rich Corporación realized that the downtrodden trees needed to be harvested
for wood and the land replanted. Rich Corporación began projects to raise
funds for local communities by harvesting the damaged trees and
commercializing the wood. The projects included a partnership with
Deutsche Gesellschaft fur Technische Zusammenarbeit GmbH (GTZ) of Germany
to assist indigenous communities in the Tasabi Pri territory. Rainforest
Alliance's Smartwood certification program will be utilized and full
accountability implemented in accordance with Nicaraguan and international
law.

The companies maintain a factory and showroom, two production warehouses,
three storage warehouses, and a saw mill spanning twelve acres of property.
Over 55 people are employed full time by the operation.

Nevertheless, millions of acres of damaged land remain uncorrected. To
expand, Rich Corporación turned to Italian Oven International for
assistance. With IOVE's marketing and logistical expertise in both Europe
and North America, it agreed to join with Rich Corporación to establish
additional exports. Hundreds of thousands of cubic meters of woods, such
as mahogany, cedars, coralillo, pine, almond, Guapinol, nancitón, and
coyote, are available. Examples of the wood can be seen at
www.richwood.com.ni.

The Italian Oven and its subsidiaries formed Richwood Eco Ventures, Inc.,
and purchased capital stock in the Nicaraguan companies to establish a
partnership protocol. As the majority of the Richwood timber is exported,
REVI will directly market the wood throughout the world. The Italian Oven
entities will own over 80% of REVI.

Additional information about this venture will be available on the Italian
Oven's website at www.theitalianoveninc.com/richwood.html over the next
two weeks.