Virtual Enterprises Inc. Changes Name to NetCommerce Inc

Business Wire, Sept 8, 1999

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Sept. 8, 1999--

Virtual Enterprises Inc. (OTC BB:VTUE) Wednesday announced that it has changed its corporate name to NetCommerce Inc.

The new symbol, NEET, will be effective Sept. 9, 1999. NEET has also been assigned a new Cusip number, 641082 10 2.

Fred G. Luke, chairman and chief executive officer, stated: "The name change will better reflect in the marketplace the direction and scope of the company business: the continued development of mall sites and Web design pages for Internet commerce through its wholly owned subsidiary, Metroplex Web Inc.; and the development of software for the novice Internet user with the Web Video Phone and software developed by Anyuser.Net through a joint venture agreement with another wholly owned subsidiary, InterCom Inc."

VTUE is an Internet-related holding company that invests in, develops and operates Internet service companies as majority or wholly owned subsidiaries. The Company's Internet services, including Web page design, Web hosting and ISP marketing activities are conducted through MetroplexWeb Inc., a Nevada corporation ("Metroplex Nevada").

The Company's Internet-related telecommunications services, including prepaid calling cards, re-marketing of long-distance services and its recent venture to license and market the Web Video Phone software, are conducted through InterCom Inc., a Nevada corporation, ("InterCom"). Both Metroplex Nevada and InterCom are wholly owned subsidiaries. InterCom is presently a development-stage company.

Anyuser.Net, subject to the pending acquisition, will become a 47% owned subsidiary of InterCom.

Anyuser.Net is a South Korean corporation founded in May 1999 by former principals and employees of internationally known South Korean-based telecommunications, Internet software and marketing companies.

Anyuser.Net develops and markets software products as a replacement for the PC for those computerless homes and offices. The software is designed to support the rapidly expanding electronic appliance industry, with a focus on the Internet-Telephony and Web Video Phone business segment.

Note: Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Investors who seek more information about the Company's business and relevant risk factors may wish to review the Company's periodic reports filed with the Securities and Exchange Commission including, but not limited to, its most recent Current Report(s) on Form 8-K, its Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB. Such disclosure information can be accessed from the "Edgar" database through the Internet at http://www.sec.gov.