ASPi Europe, Inc. Enters Into Letters of Intent to Acquire Two European Information Technology Companies.

Business Editors, High-Tech Writers

SEATTLE--(BUSINESS WIRE)--July 5, 2000

ASPi Europe, Inc. (OTCBB:ASPQ) (the "Company") announced today that it has entered into a letter of intent to acquire all of the issued and outstanding equity securities of Blue Dragon Technologies GmbH, an information technology business located in Germany.

The Company also entered into a letter of intent to acquire all of the issued and outstanding equity securities of WebTech Ltd., an information technology business located in Bulgaria. Both companies are owned by the same shareholders. Under the terms of both letters of intent, the Company intends to acquire both companies' outstanding securities in exchange for 500,000 shares of common stock of the Company and a commitment to fund the companies for a combined amount of $1,000,000 upon closing of the acquisitions.

Under the terms of the proposed transactions, it is anticipated that executives of the to-be-acquired businesses will assume senior executive positions with the Company and join the board of directors of the Company.

The shares of common stock to be issued in connection with the proposed transaction will not be registered under the United States Securities Act of 1933, as amended, in reliance on an applicable exemption from such registration requirements.

The closings of the proposed acquisitions will be subject to certain conditions, including, but not limited to, negotiation and completion of definitive agreements and the receipt of necessary financing. There can be no assurance that the transactions contemplated will be completed.

THE SEC AND NASD HAVE NOT REVIEWED AND DO NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This press release contains statements that constitute "forward looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the completion of the proposed acquisitions on the terms anticipated by the Company or at all; and receipt of financing necessary to complete the proposed acquisitions. Factors that could cause actual results to differ materially from anticipated results include: risks associated with our limited operating history and history of losses; risks associated with our current financial condition and lack of working capital; risks associated with our potential inability to attract additional financing on terms acceptable to us or at all; risks associated with our inability to negotiate and enter into definitive agreements for the proposed transactions on terms acceptable to us or at all; and other risks and uncertainties detailed in our 10-K filed with the Securities and Exchange Commission. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.