To: Mr.D who wrote (6 ) 8/10/2000 11:14:43 AM From: LORD ERNIE Read Replies (1) | Respond to of 22 NEWS OUT: Oasis Technology SRL Reports $1.5 Million Net Earnings for 2nd Qtr. 2000 CHARLOTTE, N.C., Aug 10, 2000 /PRNewswire via COMTEX/ -- Internet Multimedia Corporation (OTC Bulletin Board: IIMC) announces today that its wholly owned subsidiary Oasis Technology SRL produced net earnings for the 2nd Qtr. ending June 30, 2000 of $1.5 million bringing net earnings year to date to $2.9 million with projected net earnings for fiscal year ending 2000 of $6.1 million. The company cited strong growth in its hardware and software business. Internet Multimedia Corporation recently acquired 100% of Oasis Technology SRL, of Verona, Italy. Internet Multimedia is a software and hardware technology company with $6.5 million in tangible assets and has ongoing business in Greece, Spain, the United Kingdom, and is currently expanding its business into the United States and South America. Oasis' net earnings for fiscal 2001 are projected to be between $20 million and $25 million. 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. Contact: Ed Knowles VP Mergers and Acquisitions 21st Equity Partners, LLC 704-540-8138 edknowles@21ep.com Clinton F. Walker VP Marketing and Research 21st Equity Partners, LLC 704-540-8138 cwalker@21ep.com Dave Wood President/CEO 21st Equity Partners, LLC 704-540-8138 dwood@21ep.com SOURCE Internet Multimedia Corporation CONTACT: Ed Knowles, VP Mergers and Acquisitions, edknowles@21ep.com , or Clinton F. Walker, VP Marketing and Research, cwalker@21ep.com , or Dave Wood, President and CEO, dwood@21ep.com , 21st Equity Partners, LLC, 704-540-8138, for Internet Multimedia Corporation (IIMC)