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To: RULiquid who wrote (68452)	10/25/2000 2:54:09 PM
From: RULiquid	Read Replies (1) \| Respond to of 150070

TMGS NEWS : Wednesday October 25, 2:25 pm Eastern Time Press Release SOURCE: The Murdock Group Murdock Group Holding Company Announces Debt Restructuring Program SALT LAKE CITY, Oct. 25 /PRNewswire/ -- The Murdock Group Holding Company (OTC Bulletin Board: TMGS - news), announced today its plans to restructure and reduce debt are progressing. The company announced its restructuring plans in September. Since that announcement, The Murdock Group has realized significant benefit from its aggressive efforts to decrease debt and restructure operations. To date, the company has reduced its debt by approximately 4.2 million dollars. In addition, reduced interest expense, operational restructuring and other expense reductions have resulted in annual cost savings of approximately $2,200,000. ``The first phase of our debt and cost restructuring has now been successfully completed, with the second phase slated to be completed in November,'' stated KC Holmes, CEO. ``With revenue still on track for nearly $3,000,000 in fiscal 2000, and restructuring efforts proving effective, we expect our balance sheet will be dramatically improved by first quarter 2001.'' About The Murdock Group Founded in 1983, The Murdock Group has emerged as a business incubator with emphasis in the employment industry. The Murdock Group has incubated Internet offerings MyJobSearch.com, an employment portal, and CareerWebSource, a BtoB employment information company, as well as a full service brick and mortar career-coaching provider. The Murdock Group also has a real estate development group specializing in small to midsize entitlement projects. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. While these statements are made to convey the company's progress, business opportunities, and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Actual company results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. A more extensive listing of risks and factors that may affect the business prospects of the Company and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by The Murdock Group with the Securities and Exchange Commission. SOURCE: The Murdock Group