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To: SSP who wrote (73790)	12/8/2000 9:52:50 AM
From: Laura E.	Read Replies (1) \| Respond to of 150070

RTHM))

To: SSP who wrote (73790)	12/8/2000 10:01:42 AM
From: StocksDATsoar	Read Replies (2) \| Respond to of 150070

SOME DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD Applies to -- RPCX ReSourcePhoenix.com Announces Sale of Assets and Winding Down of Operations ReSourcePhoenix.com Announces Sale of Assets and Winding Down of Operations SAN RAFAEL, Calif., Nov 29, 2000 (BUSINESS WIRE) -- ReSourcePhoenix.com (Nasdaq:RPCX), today announced that it has agreed to sell substantially all of its assets to Phoenix American Incorporated (PAI), an RPC affiliate, as part of an orderly winding down of the company's operations. In this regard, PAI will assume the company's obligations to its secured creditors. No recovery to general unsecured creditors or shareholders is anticipated at this time. In addition, the company announced the layoff of approximately 80 of its 173 employees. The remaining employees will be transitioned to the purchaser of the assets. Gus Constantin, chairman, president and chief executive officer stated, "I want to assure our customers that we will be working with them to try to facilitate a smooth transition." The announcement came after a lengthy and exhaustive effort to both raise capital, dating back to early spring, or more recently, to sell the company outright to a non affiliated entity. The company contacted numerous financial and strategic prospects. The company worked to maximize business efficiencies and eliminate as many operating expenses as was prudent to conserve cash and to provide more time to examine all options. In the end, however, the result of these efforts was insufficient as no party was prepared to provide capital or acquire the company. ROTF! ROTF! CONTACT: ReSourcePhoenix.com Maureen Roland, 415/485-4600 URL: businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. Copyright (C) 2000 Business Wire. All rights reserved. -0- KEYWORD: CALIFORNIA INDUSTRY KEYWORD: E-COMMERCE INTERNET