MCGALLEN & BOLDEN APPROVED AS GENERAL CORPORATION IN USA

Asia-centric communications and Internet group now approved for larger shareholding and future offering

SINGAPORE, November 12, 1999 - Leading strategic management, training, Internet and publicity consulting group, McGallen & Bolden International Consulting Inc., a closed private corporation incorporated in Delaware, USA, and part of the McGallen & Bolden group of companies, has been certified by Mr Edward J Freel, under the office of the Secretary of State for the State of Delaware, USA, to be a General Corporation under the General Corporation Law on November 1, 1999.

According to Seamus Phan, Partner and Acting Chief Executive Officer (CEO) for the group, "McGallen & Bolden is a small and progressive consulting concern, and since its inception in 1991, has been 100% debt-free, while retaining appreciable profit margins through using 100% in-house consulting and training programs. With the software development efforts, we have also one of the lowest burn rates in the Internet industry, where loss-making units abound. Our intellectual or soft asset base is very strong, with a comprehensive suite of total quality, motivational and technology management training programs, as well as a strong Asia Pacific media database for publicity, and emerging Internet product offerings. Our firm is consistently profitable from day one, and aims to remain so for current shareholders, and future shareholders when we go public."

Under the General Corporation Law, McGallen & Bolden terminates its status as a closed corporation and deletes articles SIXTH, SEVENTH and EIGHTH and the reference in the heading to being a closed corporation required by Section 342(a) of the Law, and adopts in accordance of Section 242 of the Law of the State of Delaware.

McGallen & Bolden is currently expanding its strategic consulting initiatives to include Internet software development (both off-the-shelf and customized development), as well as migrating its training content to Web-based delivery. It has several key Internet software products, including JAEM (Java applet for easy deployment of graphical navigation and web-based training), Human Resource intranet template, and an upcoming server-based product for small business analysis.

A general corporation is preferred by corporations, private investors, market makers, and investment bankers since it has no shareholding limitations and can opt for public share offering. McGallen & Bolden is now actively seeking private placement or majority equity investors and will thereafter move toward public share offering.

McGallen & Bolden has several strategic companies, including McGallen & Bolden Ireland Limited, a private limited company in Dublin, Ireland, which serves as the world firm. McGallen & Bolden Associates, a partnership in Singapore, serving as Asia Pacific operational headquarters, and McGallen & Bolden International Consulting Inc., in Delaware, USA, serving as USA headquarters.