Charys Holding Company Provides Business Update Delay in Filing Form 10-KSB, Intended Reapplication for Trading on OTCBB.

ATLANTA -- Charys Holding Company, Inc. ("Charys") (OTC Bulletin Board: CHYS) today announced that it continues the voluntary review it has undertaken of its accounting practices for historical financing transactions. This review, and expected adjustments to historical financial reports has delayed the filing of its Form 10-KSB with the SEC. In particular, Charys is reviewing whether certain debt transactions with detachable warrants were accounted for in accordance with current Generally Accepted Accounting Principles ("GAAP"). Charys is working closely with its auditors to resolve this issue, and will file its Form 10-KSB as soon as practicable following completion of the review described above and consultation with its independent registered public accounting firm. The adjustments are not expected to materially alter the operating income statements of the company. The identified items will show adjustments to the presentation of debt and equity on the balance sheet.

As Charys previously announced, it delayed the filing of its Annual Report on Form 10-KSB for the year ended April 30, 2007. The delay was due to the number of significant corporate events that transpired in the past fiscal year including multiple acquisitions, the operational integration of several formerly independent private companies, and the raising of over $200 million in financing, all of which caused the year-end close process and audit to take longer than originally anticipated. Charys expects to file its Annual Report on Form 10-KSB in the near future.

The company also today announced that it received an OTCBB Ineligibility Notification letter dated August 15, 2007 indicating that Charys has failed to comply with the OTCBB filing requirements under NASD Rule 6530e with respect to Charys' Annual Report on Form 10-KSB, and that Charys' securities are, therefore, subject to removal from quotation on the OTCBB effective at the open of business on August 24, 2007. However, beginning on August 24, 2007, Charys' common stock will be quoted on the "pink sheets" under the symbol CHYS.PK.

"I am very disappointed with this development and the events that have led to our missing the filing date of the 10-KSB. Although this news is disappointing, it does not impact our daily operations, our commitment to our customers nor our progress in building a successful and profitable company," said Billy Ray, CEO of Charys. "The Charys management team remains focused on running our day to day profitable operations and building a solid foundation for our future growth. We have immediately begun the process to resume quotation on the OTCBB and also following through on our application to move to a national exchange. I assure our shareholders that we remain committed and work tirelessly to increase the value of Charys as a national telecommunications and restoration company."

This press release contains forward-looking statements. These statements are based upon Charys' current expectations and speak only as of the date hereof. Actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including uncertainties as to the nature of the industry, including changing customer demand, the impact of competitive products and pricing, dependence on existing management and general economic conditions. Charys' Annual Report on Form 10-KSB, recent and forthcoming Quarterly Reports on Form 10-QSB, recent Current Reports on Form 8-K and other SEC filings discuss some of the important risk factors that may affect Charys' business, results of operations and financial condition. Management undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

About Charys Holding Company, Inc.

Headquartered in Atlanta, Georgia, Charys is a publicly traded company providing infrastructure services in two primary markets. In the restoration and reconstruction markets, Charys services include emergency planning and coordination, response to catastrophic losses, reconstruction and restoration and environmental restoration. In the wireless communications and data infrastructure markets, Charys provides an array of services including engineering, program management, construction, installation and maintenance, tower services, radio and advanced technology implementation and integration services to large service providers and other business enterprises.