Message-ID: <26615936.1075845214422.JavaMail.evans@thyme> Date: Thu, 31 May 2001 05:32:23 -0700 (PDT) From: mundstein@wamx.com To: alewis@enron.com Subject: WAMEX News Alert Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: "WAMEX Holdings" @ENRON X-To: List Member X-cc: X-bcc: X-Folder: \Lewis, Andrew H.\Lewis, Andrew H.\Deleted Items X-Origin: LEWIS-A X-FileName: Lewis, Andrew H..pst WAMEX Holdings - http://www.wamx.com/ Please find below the two most recent press releases for Wamex Holdings, Inc. (OTC: WAMX) Tuesday May 29, 7:02 am Eastern Time Press Release Wamex Secures Bridge Funding to Help Get Internet Trading System Online NEW YORK--(BUSINESS WIRE)--May 29, 2001--Wamex Holdings Inc. (OTC:WAMX - news) today announced that it received the first cash payments as part of an advance towards the funding it needs to get its Internet Trading System online. Macrocom Investors, LLC, a New York financial firm, has agreed in principle to initial financing in the amount of $500,000, with the prospect of further investment when due diligence is completed, according to Sascha Mundstein, Wamex CEO. The advance, Mundstein speculated, could be the first increment in a total financing package that will enable Wamex to fulfill its role in the "Instox" joint venture pledged to bring its Internet Trading System online worldwide, and generating revenues. "The funding is contingent on Macrocom's satisfaction that the Internet Trading System software really works, and we know that it does -- it has been demonstrated," Mundstein said. The Wamex CEO expressed the hope that this financial boost signals major progress toward the total recovery of Wamex, which he has been working to achieve since taking over the company late in 2000. Wamex is 50% partner in a joint venture with Trat.net Ltd. and CSCO Ltd., officially named "Instox." Instox is developing the Web site that will bring investors international access to a direct, online, one-on-one, "no middleman" trading facility, wherein third party price manipulation and distortion may be greatly reduced or eliminated. "The day Instox opens the Internet Trading System to investors will be the day the investment business begins a radical change for the better," Mundstein said. Safe Harbor Statement: This release may contain certain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities and Litigation Reform Act of 1995. Actual events or results may differ from the company's expectations. Contact: Asset Professional Services, Houston Jack Burney, 713/729-5233 burney00@swbell.net Thursday May 31, 7:01 am Eastern Time Press Release Wamex to Complete Problematic 3-Year Audit and File Its 10K With SEC NEW YORK--(BUSINESS WIRE)--May 31, 2001--Wamex Holdings Inc. (OTC:WAMX - news) today announced the impending completion of a problematic 3-year audit, which will pave the way for the filing of an up-to-date 10K annual report with the SEC. The audit and 10K filing will remove a significant obstacle to the re-listing of WAMX stock on the OTC Bulletin Board, Sascha Mundstein, CEO, speculated. "Hopefully, we will complete the audit in the very near future and the filing of the 10K annual report will follow shortly," Mundstein said. "The pursuit of an accurate audit has been an arduous task, and we will be happy to put it behind us. We are geared to keep Wamex dealings absolutely accurate and above board in the future." Wamex lost its listing in mid-2000 after two of its officers were charged with illegal dealings. They have subsequently left the company. The company itself, Mundstein said, has never been accused of any wrong-doing. The audit was complicated by a convoluted trail going back to 1998, involving problems such as monies deposited in subsidiary and alternate companies by previous management, before Mundstein took charge last year to rescue Wamex. Former executives connected to these transactions have long since resigned from the company and foregone any control of its stock. The prospect of Wamex's return to the OTC Bulletin Board, and the projected opening this year of the "Instox" international Web site, offering the private investor a chance to trade one-on-one without middlemen and price distortion, Mundstein said, "puts our corporation back on the track leading to stability and profitability." Safe Harbor Statement: This release may contain certain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities and Litigation Reform Act of 1995. Actual events or results may differ from the company's expectations. Contact: Asset Professional Services, Houston Jack Burney, 713/729-5233 burney00@swbell.net. ______________________________________________________________________ To unsubscribe, write to wamex-unsubscribe@listbot.com