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To: Jeffrey S. Mitchell who wrote (1623)5/31/2001 4:19:04 PM
From: Arcane Lore  Read Replies (2) of 12465
 
Thursday May 31, 4:00 pm Eastern Time

Press Release

SOURCE: EntrePort Corporation

EntrePort Announces Changes to Proposed Merger

SAN DIEGO, May 31 /PRNewswire/ -- EntrePort Corporation (Amex: ENP - news) previously announced that it has entered into a letter of intent with Infotopia, Inc. to pursue a corporate reorganization in which Infotopia would transfer its business to EntrePort and EntrePort would spin-off its existing business to its shareholders. EntrePort and Infotopia are continuing to negotiate a possible transaction on different terms than previously announced. The parties have reached an agreement in principal and are working to refine the specifics of the transaction. It is anticipated that a definitive agreement will be signed within a week.

If EntrePort's Board of Directors determines that proceeding with a transaction with Infotopia is in the best interests of the company and its shareholders, investors will receive a proxy statement containing detailed information about the proposed transaction and will have an opportunity to vote on the transaction at a special shareholders' meeting.

This news release includes forward-looking statements that include risks and uncertainties, including the risks and uncertainties concerning the ability of EntrePort and Infotopia to reach a definitive agreement and consummate the proposed reorganization, of which there can be no assurance. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

SOURCE: EntrePort Corporation

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