DIRECT IPO CORPORATION FORMED TO HELP INTERNET COMPANIES GO PUBLIC USING
THE WORLD WIDE WEB

Venture Will Focus on Early-Stage Internet and Interactive New Media
Companies

MARINA DEL REY, CA -- Hot on the heels of the Security and Exchange
Commission's ruling that opens the door for companies to go public via the
Internet, two California entrepreneurs have announced the formation of
Direct IPO, a new corporation which will facilitate direct public
offerings of early-stage Internet stocks via the World Wide Web.

Direct public offerings are registered and regulated like other public
securities; however, the issuer sells shares directly to the public,
without underwriters. Direct IPO's function will be to attract thousands
of interested Web surfers to information concerning how to download a
company's prospectus and order stock.

"Historically, the offering of stock directly to the public without
underwriters has been confined to the consumer products arena:
microbreweries, food and mail order," said Direct IPO chairman Michael
Terpin. "We see an incredible opportunity to satisfy the unfulfilled
investment desires of the technology-savvy public to create a portfolio of
early-stage Internet companies."

Terpin, who is also president and CEO of The Terpin Group, Inc., a leading
new media public relations firm, formed Direct IPO late last year with San
Francisco securities broker Mark S. Perlmutter and other minority interest
partners. Terpin will serve as chairman and will direct the Internet
marketing efforts, Web site development and identification of best
candidates for Internet public offerings. Direct IPO plans to focus on
early-stage investments in Internet tools and security, Web advertising
and other related online technology and interactive media companies.

"We have been planning this for some time now," Terpin added. "The dramatic
impact of the SEC's ruling has simply proved us right in the marketplace
and pushed up the timetable for making our intentions known."

* Individuals Can Create Their Own Venture Funds Via The Internet

"Our mission will be to identify the upcoming market leaders among today's
breaking technologies and help these companies reach Internet users who
wish to invest high-risk capital in search of possible high returns,"
stressed Perlmutter, president of the new entity. "This also provides an
alternative source of developmental funding for young enterprises that
choose not to utilize traditional venture capital, while giving the public
a chance to get in early. For smaller Internet investors, this is an
opportunity to carefully construct their own mini-venture fund by
investing as little as $1,000 per company."

"We see direct public offerings as an excellent way of giving the middle
class and small investor an opportunity to invest in early-stage high
technology companies," said Perlmutter. "Heretofore, participation in
venture capital activities had been limited to wealthy investors and
institutions." Perlmutter added that Direct IPO will encourage investors
to diversify their direct IPO portfolio, just as traditional venture
capitalists do, to spread the risk in what are traditionally high-risk,
high-reward models associated with start-up technology companies.

Direct IPO will initially be incubated out of the Los Angeles and San
Francisco offices of The Terpin Group. Direct IPO also plans to debut its
Web site by early June at http://www.directipo.com. Other things that set
Direct IPO apart from current direct public offerings on the Internet
include the following:

* Direct IPO is not selling stock, but is acting as an advisor, venture
partner and Web-based marketer and advertiser of securities for a broad
range of Internet companies.

* Direct IPO will bring a world-class team of leaders from the fields of
direct public offering, Internet marketing, and the securities community
to its board of directors and advisors, adding a high level of credibility
and visibility.

* Direct IPO has set high standards and will be meticulous in choosing its
clients, looking at as many as 50 companies before selecting one to take
public. Unlike traditional venture capital, however, Direct IPO will own a
very small position in each company it advises through the direct public
offering process.

Terpin added that Direct IPO plans to be active in the nation's three most
prominent direct public offering organizations: the California Capital
Access Forum, the Texas Capital Access Forum and the newly formed DPO
Council, the first trade group specifically addressing the needs of the
direct public offering and SCOR financial markets. The Council also serves
as a forum between DPO advocates and the nation's financial regulatory
bodies. Terpin and Perlmutter will both serve on the organizing committee
of the DPO Council, which held its charter meeting in Austin last week.

For more information on Direct IPO, please contact Michael Terpin at
310-821-6100, fax: 310-577-9646, email: gopublic@directipo.com.

Contact: Rolland Going, The Terpin Group
Voice: 310-821-6100
Email: rgoing@terpin.com
 
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