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To: Joe Copia who wrote (82343)	3/27/2001 1:38:36 PM
From: Jim Bishop	Read Replies (1) \| Respond to of 150070

KLYS Kelly's Coffee Group Positioned for Reverse Merger SALT LAKE CITY, Mar 27, 2001 (BUSINESS WIRE) -- Kelly's Coffee Group Inc. (OTCBB: KLYS) Tuesday announced the filing of its Form 10KSB for the 10-month year ended Dec. 31, 2000. The company showed record earnings of $2,202,761 (for 10 months) compared to $492,884 for the previous 12 months. Net income per share was $.04. During the course of the year, the company was able to extinguish $1,658,048 in liabilities from previously discontinued operations. Wichita Development Corp., a formerly owned subsidiary, erased $712,738.98 of those liabilities. The company's majority interest was subsequently distributed to its shareholders in a registered spin-off on Jan. 2, 2001. Wichita Development Corp.'s Form 10KSB for the 12-month period ending Dec. 31, 2000 reflects a net income of $369,825, or $.04 a share. The company is free of significant debt with total assets of approximately $250,000, and total liabilities of approximately $12,000. Well positioned for a reverse merger, the company is actively seeking to identify potential business opportunities with candidates that meet the Nasdaq small-cap listing requirements. Information regarding potential candidate companies may be directed to the company's president, Richard Surber, at 801/575-8073 ext. 106. For a detailed copy of the reports mentioned above, go to: www.sec.gov. A number of statements contained in this press release are forward-looking statements which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties including but not limited to, competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. The actual results that Kelly's Coffee Group or Wichita Development Corp. may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Investors should be aware that commercial real estate is subject to substantial risks arising from a number of areas including, but not limited to, interest rates, supply of new space, zoning changes, and various other factors. CONTACT: Kelly's Coffee Group Inc., Salt Lake City Richard Surber, 801/575-8073 Fax: 801/575-8092 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) 2001 Business Wire. All rights reserved. -0- KEYWORD: UTAH INDUSTRY KEYWORD: BANKING REAL ESTATE RETAIL EARNINGS MERGERS/ACQ * end of story *