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To: Joe Copia who wrote (8551)	8/31/1999 2:19:00 PM
From: SSP	Read Replies (1) \| Respond to of 150070

WAYNE, N.J.--(BUSINESS WIRE)--August 31, 1999--The Auxer Group, Inc. (OTC BB: AXGI or AXGIE) announced today the company signed a letter of intent to acquire the name, assets and intellectual property of a commercial internet site. The name is not being disclosed at this time. The company expects to close on this acquisition and begin promoting the site this fall after Labor Day. Effective September 1, 1999 and possibly as early as today, The Auxer Group is scheduled have the "E" removed from the symbol and begin trading under the symbol AXGI again. The Auxer Group will temporarily trade only on the EQS (Electronic Quotation System) sponsored by the NQB (National Quotation Bureau) while the SEC (Securities and Exchange Commission) completes its review process of the recent Form 10 SB filing. Upon clearing any possible comments from the SEC, the company understands that it meets the new Eligibility requirements for the OTCBB (Over The Counter Bulletin Board) and expects the NASD (National Association of Securities Dealers) to approve The Auxer Group for resumed trading on the OTCBB. After speaking with several brokerage firms and NQB, the company understands its stock can be traded through any broker or service just as usual. An individual investor should be able to obtain a quote through his brokerage service. If a service does not currently provide quotes, an investor can obtain quotes, free of charge, through the Bloomberg Network at www.bloomberg.com by entering our symbol in the Stock Quotes Look Up box. Of the brokerage firms the company contacted regarding EQS, most are currently subscribing or plan to subscribe in the near future. For more information on the EQS, call (212) 868-7100 ext. 435 or visit www.nqb.com. "I am glad that our symbol will return to AXGI without the "E". This will eliminate any confusion as most of our investors identify us by our regular symbol. We are anxious to receive confirmation of acceptance from the SEC with regards to our Form 10SB filing. Our attorneys are doing everything they can to expedite the process. The company will continue to operate as usual, expects to complete the acquisitions as planned and expects to continue to advance its growth in accordance with our business plan," said Eugene Chiaramonte, Jr., Chairman of The Auxer Group. ABOUT THE COMPANY The Auxer Group, Inc. (OTC BB "AXGI") is an investment holding company that is comprised of three wholly-owned subsidiaries: Harvey Westbury Corporation, CT Industries and Hardyston Distributors. Auxer Group is a manufacturer, wholesaler and distributor of automotive, marine and aviation after-market and hardware products. These products are currently sold to major retail chains around the country including, PEP BOYS, MANNY, MO and JACK, CARQUEST, PARTS AMERICA (WESTERN AUTO), WAL MART, KMART, WEST MARINE just to name a few. The Auxer Groups' most well known products include Easy Test Testers and Air Conditioning Accessories, GARRY'S ROYAL SATIN WAX AND POLISHES (a 70 year old superior car and marine wax line), FORMULA 2000 ULTIMATE (A high performance engine treatment). Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, competition, new products and technological changes, intellectual property rights and other risks. --30--mr/ny* csm CONTACT: Patrick M. Rost 760/942-0015 www.auxer.com