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To: onza who wrote (14009)	6/1/1999 3:26:00 PM
From: 2MAR$	Respond to of 15987

(BSNS WIRE) Eutro Group Holding Inc./Ivy Entertainment.Com Inc. Sign Def Eutro Group Holding Inc./Ivy Entertainment.Com Inc. Sign Definitive Agreement Business & Entertainment Editors/Technology Writers JUPITER, Fla.--(BUSINESS WIRE)--June 1, 1999--Eutro Group Holding Inc. ("Eutro") (OTC BB:EUTO) is pleased to announce that it has entered into a definitive stock-for-stock exchange agreement with the shareholder of Ivy Entertainment.Com Inc. ("Ivy"). Eutro will acquire all of the issued and outstanding common stock of Ivy in exchange for issuing shares of its common stock. Chairman of Eutro, Floyd D. Wilkenson stated, "We're pleased to take this huge step forward towards the enhancement of Eutro and provide a new and exciting future for shareholders in Ivy." The obligations of Eutro and Ivy to effect the stock-for-stock exchange are subject to certain conditions. Three of the conditions are as follows: Eutro must satisfy all of its liabilities, including paying all past dividends to its preferred shareholders prior to the closing of the merger. The acquisition agreement commits Ivy to having assets, measured in accordance with generally accepted accounting principles, valued at a minimum of $6 million. The closing must take place on or before July 31, 1999. Ivy is a newly formed Florida corporation specifically for this transaction with its executive office located in South Florida. Ivy intends to acquire companies in the entertainment, hospitality and financial services industries. Ivy has entered into a letter of intent to acquire a restaurant in South Florida. The restaurant owns a registered trademark and management is considering franchise opportunities. Ivy is also in negotiations with a company in the financial services industry. There can be no assurances that the proposed acquisitions will be completed or if completed will be on terms that are favorable to Ivy.