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To: Due Diligence who started this subject	10/27/2000 8:17:39 PM
From: dale_murphy	of 72

Cala Corporation Announces Continuation of Stock Buyback and Return of Shares to Treasury OKLAHOMA CITY--(BUSINESS WIRE)--Oct. 26, 2000--Joseph Cala, Chairman and CEO of Cala Corporation (OTCBB:CCAA - news) today announced that the corporation has acquired an additional 1.0 million shares in a combination of open market and private purchases for return to the company treasury. The result of these purchases is a 1.0 million share reduction in the outstanding shares of Cala Corporation. Mr. Cala further announced that Cala Corporation would continue its previously announced corporate buyback of additional shares of its common stock from the open market. These additional shares will also be returned to the corporate treasury. About Cala Corporation Cala Corporation is a developer of international hospitality businesses with a corporate emphasis on the ownership, operation, and management of hotels, resorts, and casinos. Cala Corporation is currently developing the Undersea Resort and Hotel project with proposed locations throughout the world. The information in this news release includes certain forward-looking statements as defined in the ``Safe Harbor'' provision of the Private Securities Litigation Reform Act of 1995. These statements are based upon assumptions that are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any of its forward-looking statements will prove to be correct. This press release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. For further information on Cala Corporation, please contact 405/235-4960 or e-mail info@calacorporation.com. Contact: Cala Corporation, Oklahoma City Joe Johnston, 405/235-4960 info@calacorporation.com

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