CashWars, Inc. Announces Sale Process for and Related Assets


AMHERST, MA - June 4, 2001 - CashWars, Inc, an online entertainment company, announced plans today for the sale of and its related assets. The following bidding process has been established. Interested parties should contact for more information.

Preemptory Bids: Interested parties may make preemptory bids prior to noon EST June 11. If a sufficiently attractive offer is made, we will immediately enter into negotiations with that party. No further preemptory bids will be considered and plans for a full bidding process will be canceled. If no bid is deemed sufficiently high to stop the auction, we will enter into the first round of bidding.

Round One: The highest bid received will establish the floor for the next round of bidding. The highest bidder in round one will earn the right to outbid the other parties in round two.

Round Two: All parties will be given a chance to make a second bid. After all the bids are submitted the highest bidder from the first round will have one final chance to outbid the other parties. The other parties will have no recourse if they are outbid at this stage.

We have tentatively decided on the following schedule.

June 11 Noon EST: Last possible date for preemptory bids. Remember, this is the final deadline if no earlier preemptory bids have been accepted. Serious parties should submit preemptory bids as soon as possible to protect their interests.

June 14 Noon EST: First bids due. Bids should be in the form of a non-binding Letter of Intent that includes both the amount and other pertinent details.

June 18 Noon EST: Second bids due.

June 19 Noon EST: Final bid from the highest bidder from round one due.

About Cashwars:

CashWars, Inc is a Delaware Corporation based in Amherst, MA. With over 340,000 registered members, is an addictive online game where users can steal real money from other users, ally with friends, build an empire and win prizes. Every day approximately 3,500,000 moves are made in the battle for riches. Signing up for special offers allows users and teams to advance faster in the game.

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