eResource Capital Group Completes Acquisition of LifeStyle Technologies; eResource Announces Plan for National Expansion of LifeStyle Technologies

Apr 04, 2001, 01:00 ET from eResource Capital Group, Inc.

    CHARLOTTE, N.C., April 4 /PRNewswire/ -- eResource Capital Group, Inc.
 (Amex:   RCG) today announced that it has completed the previously announced
 acquisition of LST, Inc., d/b/a LifeStyle Technologies.  In a stock-for-stock
 exchange, eRCG issued 10,074,675 shares of its Common Stock for 100% of the
 issued and outstanding shares of LifeStyle Technologies.  LifeStyle
 Technologies, headquartered in Charlotte, NC, provides homebuilders and
 homeowners a "one-stop-shop" for custom design and installation of new home
 technologies.  LifeStyle Technologies is an integral addition to eRCG's
 corporate infrastructure and is intended to become the foundation of eRCG's
 technology segment.
     In addition to the acquisition of LifeStyle, eRCG has made preparations to
 begin the expansion of LifeStyle Technologies' business on a national
 platform.  eRCG will implement its expansion strategies of the LifeStyle
 business model through internal expansion, acquisition, or strategic licensing
 agreements, which will allow LifeStyle to create an immediate national
 footprint in the residential technology business sector.
     Mike Pruitt, CEO and President of eRCG, commented, "The LifeStyle
 Technologies acquisition gives eRCG ownership of a company with the core
 infrastructure to expand its business on a national basis in an industry that
 is currently fragmented.  As future homebuyers throughout the United States
 realize their need for residential technology applications, LifeStyle will be
 positioned to fulfill their needs."
 
     About eResource Capital Group
     eResource Capital Group, Inc. is a growing network of technology companies
 organized under one operating company to benefit from synergistic
 relationships and the infusion of intellectual and capital resources.  The
 company plans to expand its network through timely acquisitions and by growing
 and enhancing its member companies.  eRCG's strategic focus incorporates five
 technology industry segments: e-commerce, Internet infrastructure, technology
 professional services, enabling technology, and data/communication systems.
 Operating companies in the eRCG network include: flightserv.com, Internet
 Aviation Services, Ltd., DM Marketing, Inc., Avenel Ventures, Inc., Avenel
 Alliance, Inc. and LST, Inc., d/b/a LifeStyle Technologies.  More information
 is available on eRCG at www.eresourcecapital.com .  For investor information,
 contact Georgi Dienst at eRCG at (704) 553-9330 x26 or at
 gbd@eresourcecapital.com .
 
     Statements in this news release about anticipated or expected future
 revenue or growth or expressions of future goals or objectives are
 forward-looking statements within the meaning of Section 21E of the Securities
 Exchange Act of 1934, as amended.  All forward-looking statements in this
 release are based upon information available to the Company on the date of
 this release.  Any forward-looking statements involve risks and uncertainties,
 including those risks and uncertainties described in the Company's filings
 with the Securities and Exchange Commission, that could cause actual events or
 results to differ materially from the events or results described in the
 forward-looking statements, whether as a result of new information, future
 events or otherwise.  Readers are cautioned not to place undue reliance on
 these forward-looking statements.
 
 

SOURCE eResource Capital Group, Inc.
    CHARLOTTE, N.C., April 4 /PRNewswire/ -- eResource Capital Group, Inc.
 (Amex:   RCG) today announced that it has completed the previously announced
 acquisition of LST, Inc., d/b/a LifeStyle Technologies.  In a stock-for-stock
 exchange, eRCG issued 10,074,675 shares of its Common Stock for 100% of the
 issued and outstanding shares of LifeStyle Technologies.  LifeStyle
 Technologies, headquartered in Charlotte, NC, provides homebuilders and
 homeowners a "one-stop-shop" for custom design and installation of new home
 technologies.  LifeStyle Technologies is an integral addition to eRCG's
 corporate infrastructure and is intended to become the foundation of eRCG's
 technology segment.
     In addition to the acquisition of LifeStyle, eRCG has made preparations to
 begin the expansion of LifeStyle Technologies' business on a national
 platform.  eRCG will implement its expansion strategies of the LifeStyle
 business model through internal expansion, acquisition, or strategic licensing
 agreements, which will allow LifeStyle to create an immediate national
 footprint in the residential technology business sector.
     Mike Pruitt, CEO and President of eRCG, commented, "The LifeStyle
 Technologies acquisition gives eRCG ownership of a company with the core
 infrastructure to expand its business on a national basis in an industry that
 is currently fragmented.  As future homebuyers throughout the United States
 realize their need for residential technology applications, LifeStyle will be
 positioned to fulfill their needs."
 
     About eResource Capital Group
     eResource Capital Group, Inc. is a growing network of technology companies
 organized under one operating company to benefit from synergistic
 relationships and the infusion of intellectual and capital resources.  The
 company plans to expand its network through timely acquisitions and by growing
 and enhancing its member companies.  eRCG's strategic focus incorporates five
 technology industry segments: e-commerce, Internet infrastructure, technology
 professional services, enabling technology, and data/communication systems.
 Operating companies in the eRCG network include: flightserv.com, Internet
 Aviation Services, Ltd., DM Marketing, Inc., Avenel Ventures, Inc., Avenel
 Alliance, Inc. and LST, Inc., d/b/a LifeStyle Technologies.  More information
 is available on eRCG at www.eresourcecapital.com .  For investor information,
 contact Georgi Dienst at eRCG at (704) 553-9330 x26 or at
 gbd@eresourcecapital.com .
 
     Statements in this news release about anticipated or expected future
 revenue or growth or expressions of future goals or objectives are
 forward-looking statements within the meaning of Section 21E of the Securities
 Exchange Act of 1934, as amended.  All forward-looking statements in this
 release are based upon information available to the Company on the date of
 this release.  Any forward-looking statements involve risks and uncertainties,
 including those risks and uncertainties described in the Company's filings
 with the Securities and Exchange Commission, that could cause actual events or
 results to differ materially from the events or results described in the
 forward-looking statements, whether as a result of new information, future
 events or otherwise.  Readers are cautioned not to place undue reliance on
 these forward-looking statements.
 
 SOURCE  eResource Capital Group, Inc.