Securities Resolution Advisors Enters into Letter of Intent to Acquire Internet Auction

Business Wire, Jan 15, 1999

PORT WASHINGTON, N.Y.--(BUSINESS WIRE)--Jan. 15, 1999--Securities Resolution Advisors, Inc. (OTC BB: SRAD) ("SRAD") announces that it has entered into a Letter of Intent to acquire 100% of the issued and outstanding shares of Internet Auction, Inc., (referred to as "Auction"). Pursuant to the terms of the Letter of Intent, the parties are to have executed a definitive stock purchase agreement by Jan. 20, 1999 with an anticipated closing of February 10, 1999.

Auction offers a popular person-to-person trading community on the Internet, wherein sellers list items for sale and buyers are able to browse for items which are topically arranged and bid for the item through a fully automated, easy to use online service. The website is located at www.auctioninc.com. In addition, Auction has been offered selected merchandise on an outsource fulfillment basis. Auctions' services are in competition with other Internet companies such as eBay Inc. (Nasdaq: EBAY), Ubid Inc. (Nasdaq: UBID), and Onsale Inc. (Nasdaq: ONSL).

"Because of the explosive growth of the Internet through companies such as Yahoo Inc. (Nasdaq: YHOO), Netscape Inc. (Nasdaq: NSCP), and Amazon (Nasdaq: AMZN), the ability to acquire an established Internet company with current operations and revenues instead of beginning with just an idea, gives SRAD an important head start in developing and expanding its business strategies to take advantage of not only this country's but the world's movement toward global purchasing through the Internet," according to Mr. Dean Curry, Director of Marketing of SRAD.

This acquisition will mark a new direction in SRAD's business plan, the ultimate goal of which is to enhance shareholder value.

This release contains forward-looking statements with the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in the forward-looking statement and assumption upon which forward-looking statements are based are reasonable, it can give no assurance that such expectations and assumption will prove to have been correct. See the Company's Annual Report on Form 10K-KSB for additional statements concerning important factors such as demand for products, manufacturing costs, competition that could cause actual result to differ materially from the Company's expectations.