LAFAYETTE, La., Oct. 7, 1998 - Environmental Remediation Holding Corporation (OTC BB:ERHC) today announced that Chairman of the Board, Sam L. Bass, Jr. has selected James R. Callender, Sr., President and Chief Executive Officer. Formerly, the Company's Chief Operating Officer, the appointment of Callender as President and CEO was overwhelmingly approved by the Board of Directors.

Bass stated, "Mr. Callender is most qualified to oversee the day-to-day operations of ERHC given his vast knowledge of the oil industry coupled with over 40 years of experience which includes managing worldwide drilling operations for UNOCAL. With Mr. Callender overseeing the Company, I will devote more time pursuing additional oil opportunities in West Africa, utilizing ERHC's BAPCO Tool."

"ERHC is at a turning point," stated Callender. "The Company has changed its focus from an environmental company, cleaning up and producing mature domestic oil and gas properties to that of a prominent participant in the high risk, high potential and high reward area of international exploration. Very few, if any, start-up companies have ever had the opportunity and been in a position to participate on such a scale with major oil and gas exploration companies of the world.

"ERHC's 49% ownership of the Sao Tome and Principe National Petroleum Co., in which we act as partner and manager of the 64,550 square mile Exclusive Economic Zone (EEZ) for hydrocarbon exploration and development, provides a very unique and promising opportunity for the company. Our strong presence and significant land position in West Africa, one of the most speculative and promising regions for oil and gas exploration in the world, provides us with the unprecedented opportunity to expand and create an even stronger presence in the area. Supported by outstanding Officers and Directors, we will continue to negotiate the best possible deals for potentially oil rich nations, such as the recently concluded agreement with Mobil (NYSE:MOB) for the Democratic Republic of Sao Tome and Principe.

"Additionally, as part of the Company's new strategic focus, we are currently re-evaluating all of ERHC's domestic holdings that are extremely sensitive to fluctuations in oil pricing.

"ERHC is strongly committed to building shareholder value. Many of our dedicated, long-term shareholders have expressed concern with the recent stock price. The current price definitely does not reflect the assets and potential earnings of ERHC. The Company is in an excellent position and we believe possesses monumental potential for explosive growth. With the full support of ERHC's Officers, I intend to take corrective measures to insure that the Company's stock is ultimately traded at a price level reflective of the true potential value of this Company," Callender concluded.