To: Joe Copia who wrote (53400 ) 7/5/2000 9:21:41 AM From: Jim Bishop Read Replies (1) | Respond to of 150070 TSER news BOCA RATON, Fla.--(BUSINESS WIRE)--July 5, 2000--Paul Johnson, President/CEO of eTravelserve.com, Inc. (www.etravelserve.com) (OTC Bulletin Board: TSER), has announced that the company will launch the introductory presentation site for eAuctionserve.com on July 14th, 2000. The company has also announced a planned spin-off eAuctionserve.com; a division of eTravelserve.com, to become its own publicly traded entity. All shareholder's of record for eTravelserve.com effective the close of business Wednesday, October 25, 2000 will be entitled to an equal distribution of 80% of the shares of eAuctionserve.com. The ownership of the remaining 20% of outstanding shares of eAuctionserve.com will remain with eTravelserve.com. The presentation site for eAuctionserve.com has been designed similar to that of eTravelserve.com, which includes a flash program that demonstrates the main elements of the eAuctionserve.com site. eAuctionserve.com is a division of eTravelserve.com. The company is a separate business entity that will provide B2B and B2C business auction transaction services. eAuctionserve.com has developed a plan to operate a proprietary Internet auction website that will allow consumers to buy and sell products in an online auction environment. The company will use streaming video, sound and advanced database technologies to provide a new level of interaction with consumers. eAuctionserve.com will also make its software and Internet applications available to the business community on a "private label" basis. This service will allow companies to offer auction services for there own specific products. eAuctionserve.com will generate revenue on the software licensing as well on a transaction-by-transaction basis. Companies that have been unable to offer products or services on an auction basis due to capital costs involved in setting up an auction program will now be able to offer such service by utilizing eAuctionserve.com as a service provider. eAuctionserve.com will provide these services to eTravelserve.com as well as a number of other clients. "The software and technology behind eAuctionserve.com was initially conceived to facilitate the auction of travel products for eTravelserve.com. The uses for the developments go well beyond eTravelserve.com and were therefore always viewed as a separate business entity. As eTravelserve.com has been developing we have begun expanding operations and hiring a management team, starting with the COO and CIO. In the coming months eTravelserve.com will hire a CFO and new President. The same type of development is being facilitated for eAuctionserve.com within the next few weeks including the launching of a presentation site, strategic partnerships and the initial selection of a management team. The dividend spin-off should prove beneficial to the shareholders because all shareholders of record as of the dividend date will be entitled to an equal distribution of stock when eAuctionserve.com becomes its own publicly traded entity. We feel that the use of enhanced video, sound and database technologies will allow eAuctionserve.com to compete with companies such as Priceline.com (PCLN) and eBay," said Johnson. eTravelserve.com will also release a recorded "Investor Update Call" as of June 30,2000 at 2100 EST, which can be accessed at 1-877-213-9653 and entering code #2193973. The call will update new developments, specific ad campaign information as well as upcoming plans. FOR SHAREHOLDER INFORMATION CALL STOCKBROKER RELATIONS AT 1-800-546-7950 Information in this press release contains "forward-looking statements." These statements involve risks and uncertainties that could cause actual results to differ materially. There is no assurance the above-described events will be completed. There can be no assurance of the ability of the company to achieve sales goals, obtain contracts or financing, consummate acquisitions or achieve profitability in the future. The above and additional factors are discussed in detail in the Company's filings with the S.E.C. --30--ac/ch* CONTACT: eTravelserve.com, Inc., Boca Raton Paul Johnson, CEO, 561/417-3633 www.etravelserve.com KEYWORD: FLORIDA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS INTERNET E-COMMERCE Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com *** end of story ***