eResource Capital Group Signs LOI to Acquire Logisoft Subsidiaries

Logisoft's Fiscal 2000 Revenues Grew to $6.0 M,

A 43% Increase Over the Prior Period



Apr 20, 2001, 01:00 ET from eResource Capital Group, Inc.

    CHARLOTTE, N.C., April 20 /PRNewswire Interactive News Release/ --
 eResource Capital Group, Inc. (Amex:   RCG) announced today that it has signed a
 non-binding letter of intent (LOI) to acquire the business operations and
 assets of Logisoft Computer Products Corp. and eStorefronts.net Corp.
 (together, "Logisoft Subs"), currently subsidiaries of Logisoft Corp.  Through
 these companies, Logisoft provides full spectrum Internet business
 development, focuses on enabling globalization of e-business, provides partner
 site services to companies that want to outsource their e-retail businesses,
 and markets educational software to a wide range of customers nationwide.
     According to the terms of the LOI, eRCG will acquire the operating
 business and assets of the Logisoft Subs.  It is anticipated the Logisoft Subs
 will be spun-out to a group of shareholders led by current management from the
 publicly traded corporation Logisoft Corp. in conjunction with its proposed
 acquisition of Maxx Motorsports, Inc.  The intended acquisition by eRCG is a
 stock-for-stock transaction whereby eRCG will issue its shares to purchase the
 shares of a newly independent, privately-held operating company, which will
 own the Logisoft Subs.  The eRCG shares to be issued in conjunction with the
 transaction will not be registered under the Securities Act of 1933 or any
 state securities laws.
     "The Logisoft Subs will be a valuable addition to eRCG," expressed Mike
 Pruitt, President and CEO of eRCG. "Their expertise in e-globalization is a
 synergistic fit with our current technology services group.  We currently
 service a number of companies that are looking to become global and which can
 benefit from the Logisoft Sub's services."
     "Becoming a member of the eRCG network is going to open a lot of doors for
 us," commented Rob Lamy, President and CEO of Logisoft.  "We will be able to
 target many new clients through eRCG's broad network of contacts while
 benefiting from eRCG's corporate alliances and managerial skills, which will
 enhance our current infrastructure and our ability to take advantage of the
 opportunities for profitable growth in the Internet services market."
     In calendar year 2000, Logisoft's revenue increased by $1.8 million, or
 43%, to $6.0 million from calendar year 1999.  Logisoft's Internet services
 revenue in calendar year 2000 exceeded $1.6 million, which represents an
 increase of $1 million, or 168%, from calendar year 1999.
     Logisoft Interactive, the company's Internet services division, takes
 e-businesses from inception to full globalization and concentrates in three
 core areas:  e-business, e-commerce and globalization.  They offer
 sophisticated web technology platforms that position businesses online to
 capture new domestic and international markets and generate new opportunities
 for revenue growth.  eStorefronts partners with traditional and pure Web based
 businesses to take advantage of the opportunities presented by the Internet at
 reduced risk and cost.  Through eStorefronts, customers receive inventory,
 fulfillment, management, site maintenance and strategic marketing support in
 exchange for a revenue sharing and/or equity based arrangement.  Logisoft
 Computer Products, the Company's legacy business, distributes technology
 products and instructional software to academic institutions and corporate
 customers.  Logisoft's educational software marketing business reaches more
 than 400 customers around the country and is one of the top distributors in
 the educational market for Microsoft, Adobe and other major software
 developers.
     The LOI is non-binding on either of the parties and there can be no
 assurance that the parties will enter into definitive agreements or complete
 the transaction.
 
     About Logisoft
     Founded in 1989, Logisoft is a full spectrum Internet service company
 specializing in providing business value for customers who require smart
 domestic and global Internet solutions.  In addition to its high end creative,
 multimedia, and technical capabilities, Logisoft's premier e-business
 platform, Global Gateway(SM), enables companies to quickly and cost-
 effectively do business on the Internet in more than 50 countries including
 currency transactions and settlement, cultural assessment, logistical support,
 tax, legal and fraud issues, language requirements and micro-marketing.
 Logisoft is headquartered in Rochester, NY, a leading import-export and
 technology center.  Further information on the company is available at
 http://www.logisoft.com .
 
     About eResource Capital Group
     eResource Capital Group, Inc., based in Charlotte, N.C., is a growing
 network of technology and service companies brought together under one
 operating company to benefit from synergistic relationships and the infusion
 of intellectual and capital resources.  eRCG plans to strengthen its network
 through timely acquisitions and by growing and enhancing its member companies.
 eRCG's strategic focus is in five technology industry segments:  e-commerce,
 Internet infrastructure, technology-related 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 .
     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.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X42570185
 
 

SOURCE eResource Capital Group, Inc.
    CHARLOTTE, N.C., April 20 /PRNewswire Interactive News Release/ --
 eResource Capital Group, Inc. (Amex:   RCG) announced today that it has signed a
 non-binding letter of intent (LOI) to acquire the business operations and
 assets of Logisoft Computer Products Corp. and eStorefronts.net Corp.
 (together, "Logisoft Subs"), currently subsidiaries of Logisoft Corp.  Through
 these companies, Logisoft provides full spectrum Internet business
 development, focuses on enabling globalization of e-business, provides partner
 site services to companies that want to outsource their e-retail businesses,
 and markets educational software to a wide range of customers nationwide.
     According to the terms of the LOI, eRCG will acquire the operating
 business and assets of the Logisoft Subs.  It is anticipated the Logisoft Subs
 will be spun-out to a group of shareholders led by current management from the
 publicly traded corporation Logisoft Corp. in conjunction with its proposed
 acquisition of Maxx Motorsports, Inc.  The intended acquisition by eRCG is a
 stock-for-stock transaction whereby eRCG will issue its shares to purchase the
 shares of a newly independent, privately-held operating company, which will
 own the Logisoft Subs.  The eRCG shares to be issued in conjunction with the
 transaction will not be registered under the Securities Act of 1933 or any
 state securities laws.
     "The Logisoft Subs will be a valuable addition to eRCG," expressed Mike
 Pruitt, President and CEO of eRCG. "Their expertise in e-globalization is a
 synergistic fit with our current technology services group.  We currently
 service a number of companies that are looking to become global and which can
 benefit from the Logisoft Sub's services."
     "Becoming a member of the eRCG network is going to open a lot of doors for
 us," commented Rob Lamy, President and CEO of Logisoft.  "We will be able to
 target many new clients through eRCG's broad network of contacts while
 benefiting from eRCG's corporate alliances and managerial skills, which will
 enhance our current infrastructure and our ability to take advantage of the
 opportunities for profitable growth in the Internet services market."
     In calendar year 2000, Logisoft's revenue increased by $1.8 million, or
 43%, to $6.0 million from calendar year 1999.  Logisoft's Internet services
 revenue in calendar year 2000 exceeded $1.6 million, which represents an
 increase of $1 million, or 168%, from calendar year 1999.
     Logisoft Interactive, the company's Internet services division, takes
 e-businesses from inception to full globalization and concentrates in three
 core areas:  e-business, e-commerce and globalization.  They offer
 sophisticated web technology platforms that position businesses online to
 capture new domestic and international markets and generate new opportunities
 for revenue growth.  eStorefronts partners with traditional and pure Web based
 businesses to take advantage of the opportunities presented by the Internet at
 reduced risk and cost.  Through eStorefronts, customers receive inventory,
 fulfillment, management, site maintenance and strategic marketing support in
 exchange for a revenue sharing and/or equity based arrangement.  Logisoft
 Computer Products, the Company's legacy business, distributes technology
 products and instructional software to academic institutions and corporate
 customers.  Logisoft's educational software marketing business reaches more
 than 400 customers around the country and is one of the top distributors in
 the educational market for Microsoft, Adobe and other major software
 developers.
     The LOI is non-binding on either of the parties and there can be no
 assurance that the parties will enter into definitive agreements or complete
 the transaction.
 
     About Logisoft
     Founded in 1989, Logisoft is a full spectrum Internet service company
 specializing in providing business value for customers who require smart
 domestic and global Internet solutions.  In addition to its high end creative,
 multimedia, and technical capabilities, Logisoft's premier e-business
 platform, Global Gateway(SM), enables companies to quickly and cost-
 effectively do business on the Internet in more than 50 countries including
 currency transactions and settlement, cultural assessment, logistical support,
 tax, legal and fraud issues, language requirements and micro-marketing.
 Logisoft is headquartered in Rochester, NY, a leading import-export and
 technology center.  Further information on the company is available at
 http://www.logisoft.com .
 
     About eResource Capital Group
     eResource Capital Group, Inc., based in Charlotte, N.C., is a growing
 network of technology and service companies brought together under one
 operating company to benefit from synergistic relationships and the infusion
 of intellectual and capital resources.  eRCG plans to strengthen its network
 through timely acquisitions and by growing and enhancing its member companies.
 eRCG's strategic focus is in five technology industry segments:  e-commerce,
 Internet infrastructure, technology-related 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 .
     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.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X42570185
 
 SOURCE  eResource Capital Group, Inc.