ASP Ventures Corp. Signs Letter of Intent.

Business Editors, High-Tech Writers

BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Oct. 23, 2000

ASP Ventures Corp. (OTCBB:APVE) announced today that it has signed a Letter of Intent with Premier ASP, Inc. to acquire all of its shares for shares of the common stock of ASP.

The transaction is conditioned upon, among other matters, satisfactory due diligence by ASP, agreement on the number of shares of ASP to be issued for the acquisition, agreement of all of the shareholders of Premier ASP and negotiation of definitive documents. ASP also announced that it has agreed to provide $300,000 of bridge financing to Premier ASP prior to the closing of the acquisition and that Mr. Curtiz Gangi, current CEO of Premier ASP, Inc., has agreed to serve as CEO for ASP following the closing. Through this acquisition, ASP intends to provide business processes to corporate clients and their employees both directly and through an internet portal site.

Premier ASP has entered into agreements to acquire the assets of two professional employer organizations and has entered into a letter of intent to acquire an online legal benefits provider. Premier ASP, through it's wholly owned insurance subsidiary; Premier Products and Resources, Inc., provides a portfolio of insurance products, employee benefits, and administrative services.

Curtiz Gangi, Premier ASP CEO stated, "With ASP, our intent is to continue acquiring established companies that are experts at the functional core of business processes including payroll, human resources, risk management, employee benefits and to integrate these products and services into a internet accessed application service site. We plan for this worksite portal to serve as a technology and commerce infrastructure site for businesses outsourcing these activities."

This press release contains forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those anticipated. These include the failure of any of the conditions to closing stated above, completion of the acquisition of target businesses, attracting necessary management, raising the necessary capital to fund business operations and potential market competition.