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To: Don Pueblo who wrote (900)	6/11/2001 12:46:22 AM
From: Sir Auric Goldfinger	Read Replies (1) \| Respond to of 1016

This is actawy twue!: "The Internet Advisory Corporation Files Voluntary Chapter 11 Petition Company Seeks Financial Restructuring Through Chapter 11 Process While Continuing to Provide Service to Its Business Customers FT LAUDERDALE, Fla., June 8 /PRNewswire/ -- The Internet Advisory Corporation, Inc. (OTC Bulletin Board: PUNK) today announced that on May 25, 2001 the Company voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code with the U.S. Bankruptcy Court for the Southern District of Florida. The Company intends to utilize the Chapter 11 process to restructure its balance sheet, while continuing to provide service to its business customers and maximizing its comprehensive web hosting services. The Company emphasized that this Chapter 11 filing will not impact day-to-day operations with regard to its employees, customers and general business operations. Richard Goldring, president and chief executive officer of The Internet Advisory Corporation said, "We expect to emerge from the Chapter 11 process with a new balance sheet that has significantly less debt, thereby providing us with more operating flexibility. The Company has a strong customer base and during the restructuring process, we will focus on maximizing the untapped potential of the business community looking for competitive and reliable web hosting services. "Goldring concluded, "While this was a very difficult decision to make, given the current circumstances, we determined that we needed to take decisive action for our customers, shareholders and creditors to maximize the value of our business. We have been building the Company for more than 3 years and we are confident that focusing on the potential of our existing web hosting services, coupled with a more efficient and cost effective organization, will allow The Internet Advisory Corporation to emerge from this process as a stronger company." Statements in this release contain forward-looking information about management expectations, strategic objectives, business prospects, anticipated financial or operational performance, and other similar matters. These statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties. A variety of factors, many of which are beyond The Internet Advisory Corporation's control, could cause actual results and experiences to differ materially from the expectations expressed in these statements. These factors include, but are not limited to, volatility in the financial and capital markets and the impact on access to and the terms of additional capital, actions and initiatives by current and potential competitors, events or circumstances impacting suppliers or financing sources, the effect of current and future legislation or regulation, and additional factors described in the reports filed by The Internet Advisory Corporation with the Securities and Exchange Commission (SEC), including The Internet Advisory Corporation's Annual Report on Form 10-K for the year ended December 31, 2000, which is available on the SEC's Web site, at sec.gov. The Internet Advisory Corporation undertakes no responsibility to update or revise any statements in this release, whether as a result of new information, future events or otherwise. MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com SOURCE The Internet Advisory Corporation, Inc. CO: Internet Advisory Corporation, Inc. ST: Florida IN: CPR MLM SU: BCY RCN 06/08/2001 14:16 EDT prnewswire.com