CHARLOTTE, N.C., July 10 /PRNewswire/ -- American Holding Corporation dba
AmEurotech Corporation announced today that the company has entered into
negotiations with Internet Multimedia Corporation (OTC Bulletin Board: IIMC)
to merge its business operations via reverse merger.
    American Holdings Corporation dba AmEurotech Corporation is a North
Carolina based software and hardware technology company with $6.5 million in
tangible assets and has ongoing business in Greece, Spain, the United Kingdom,
and currently expanding its business into the United States and South America.
The company's net earnings for fiscal 2000 are projected at $1.5 million with
projected earnings for 2001 to between $20 million and $25 million.
    Upon successful completion of the reverse merger AHC dba AmEurotech
Corporation will announce a name change and symbol change to better reflect
the business of the company.
    Reno J. Calabrigo, President and CEO of IIMC, said, "We are excited about
this opportunity with the AmEurotech merger and becoming a profitable
International Internet services company."
 
    Note:  Safe Harbor Statement
    Securities Litigation Reform Act of 1995:  This release contains forward-
looking statements that are subject to risk and uncertainties, including, but
not limited to, the impact of competition, new and untested products,
uncertainty of revenues and earnings, fluctuations in stock price and
liquidity, fluctuating operating results, and other risks detailed from time
to time in the company filings with the Securities and Exchange Commission.
 
    For more information contact:
    Ed Knowles
    Merger and Acquisitions for 21st Equity Partners LLC
    704-540-8138
    eknowles@21ep.com
 
    Reno J. Calabrigo, MBA
    StarQuest Capital Corporation
    170 The DonWay West, Suite 305
    Toronto, Ontario M3C 2G3
    Tel: 416-441-3083
    Fax: 416-441-2995
    Email: starquest@on.aibn.com
 
SOURCE  Internet Multimedia Corporation
    -0-                             07/10/2000
    /CONTACT:  Ed Knowles, Merger and Acquisitions of 21stEquity Partners LLC,
704-540-8138, or eknowles@21ep.com , or Reno J. Calabrigo, MBA of StarQuest
Capital Corporation, 416-441-3083, or fax, 416-441-2995, or email,
starquest@on.aibn.com , for Internet Multimedia Corporation/
    (IIMC)
 
CO:  21st Equity Partners, LLC; Internet Multimedia Corporation; AmEurotech
     Corporation; American Holding Corporation
ST:  Ontario, North Carolina
IN:  CPR MLM
SU:  TNM
 
 
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