AXIA's Agreement to Sell Real Property Canceled.

Business Editors

SALT LAKE CITY--(BUSINESS WIRE)--Oct. 24, 2001

AXIA Group Inc. (OTCBB:AXIA) today announced that the real estate sales contract for a 77,256 square foot shopping center located in Salt Lake City, owned by its subsidiary West Jordan Real Estate Holdings Inc. (WJRH), has been canceled.

WJRH did not incur any significant expenses with regard to the sales contract.

AXIA CEO Richard Surber stated, "The property produces good cash flow and has significant potential for increased revenues." AXIA anticipates the property will generate $156,000 in net cash flows for 2001, a 24% increase over last year due to recent revenue improvements, and anticipates continued profits in the foreseeable future due to recent signing of several long-term leases.

According to Surber, "We may be able to command a higher purchase price in the near future through additional improvements."

AXIA projects the value of the shopping center to increase through physical and perception-based improvements to the property. Improvements include completing a partial roof replacement and implementing an advertising campaign, promoting the shopping center and its tenants.

AXIA is a diversified holding company with two areas of operations. AXIA provides financial consulting services to companies wishing to become publicly reporting and traded. The consulting division offers SEC and NASD related services with a distinct compensation plan that greatly reduces the costs to companies for their public offerings and filings.

AXIA also acquires, improves, and sells investment properties. The real estate division applies its proven management principles to improving property valuation, selling the properties for a gain. The WJRH property is one such property.

For information on AXIA services, contact [e-mail], or call Surber at 801/575-8073, ext. 106. For information on AXIA real estate holdings, visit www.axiagroupinc.com. For information on AXIA consulting services, visit www.hudsonconsult.com. AXIA encourages investors to read current period Forms 10KSB and 10QSB, available at www.sec.gov, in conjunction with this press release.

A number of statements contained in this press release are forward-looking statements, made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks and uncertainties including, but not limited to, competitive market conditions, successful acquisitions, and the ability to secure financing.

The actual results that AXIA may achieve could differ materially from any forward-looking statements due to risks and uncertainties. Investors should be aware that commercial real estate is subject to substantial risks arising from a number of areas including, but not limited to, interest rates, supply of new space, zoning changes, and other factors.