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Axion International Granted Summary Judgment in the Amount of $4,965,898.95

BASKING RIDGE, N.J., Oct. 10 /PRNewswire-FirstCall/ -- Axion International Holdings, Inc. (OTC Bulletin Board: AXIH), a technology company that converts recycled plastics into high value-added structural products used in commercial applications, today announced that in an opinion and order dated September 26, 2008, Justice Kimba M. Wood of United States District Court, Southern District ofNew York, granted Axion International Holdings, Inc. (formerly Analytical Surveys, Inc.) (the "Company") summary judgment in the amount of $4,965,898.95 against Tonga Partners, L.P. ("Tonga"), representing disgorgement of short swing profits pursuant to Section 16(b) of the Securities Exchange Act of 1934.

The order was granted in connection with the Company's action against Tonga, Cannell Partners LLC and J. Carlo Cannell (United States District Court, Southern District ofNew York, 06 Civ. 2692). The court further ordered a trial for the limited purposes of determining to what extent Cannell Capital LLC,Tonga's general partner ("Cannell Capital"), and J. Carlo Cannell, a principal of Cannell Capital, may be held liable withTonga for the disgorgement ofTonga's short swing profits. This lawsuit was filed on April 6, 2006 by Analytical Surveys, Inc., the predecessor company to Axion International Holdings, Inc.

About Axion International

Axion International (http://www.axionintl.com) is positioned as an important structural product provider of alternative infrastructure and building products. Axion operates from a "green" base, developing structural products made from recycled consumer and industrial plastics that would otherwise be discarded into landfills. Axion International's patented technologies, developed in collaboration with scientists at Rutgers University, allow for products that are extremely strong, durable, flexible in use, and low maintenance. Traditional construction suppliers of wood, steel, and concrete cannot compete with the flexible design features of structural plastic. Manufactured from consumer and industrial waste plastics, Axion's upcycled products are an economic alternative to traditional building materials.

Forward-Looking Statements

This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause Analytical Surveys' actual results to differ materially from those currently anticipated, including the risk factors identified in Analytical Surveys' filings with the Securities and Exchange Commission.

    Investors:
    Jim Kerstein
    (908) 542-0888
    jkerstein@axionintl.com

SOURCE Axion International Holdings, Inc.

Tags: ,CST,ENV,PAP,LAW,AZ-Axion-Settlement

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Axion International Granted Summary Judgment in the Amount of $4,965,898.95