AXIA Space Hosts Olympic Representatives.

Business Editors

Olympic Winter Games 2002

SALT LAKE CITY--(BUSINESS WIRE)--Feb. 7, 2002

AXIA Group Inc. (OTCBB: AXIA) Thursday announced the execution of an agreement between Wasatch Capital Corp., an AXIA subsidiary, and Orasis T.V. Film Productions S.A., an Athens-based production company engaged by the Greek Ministry of Culture to promote the 2004 Summer Olympic Games to be held in Athens, Greece.

The agreement provides a high-profile location for the Greek Ministry of Culture, on the ground floor of the Wallace-Bennett building, within yards of the 2002 Winter Olympic Games press center. The space is now being refurbished and decorated to provide the world with a preview of what might be expected in Athens in 2004.

The short-term agreement with Orasis comes on the heels of a three-year lease for separate space in the Wallace-Bennett building to Utah Artists Hands Inc., an art gallery devoted to southwestern arts produced primarily by artists living in Utah. Utah Artists Hands expects to profit from its downtown location and the anticipated crowds associated with the Salt Lake Winter Olympics.

The agreements to fill the remaining 6,000 square feet of ground space of the Wallace-Bennett building has enabled Wasatch to make improvements valued at approximately $250,000 in renovating and refurbishing the ground floor of the structure.

The Wallace-Bennett building is a 36,797-square-foot, turn-of-the-century, multistory office building located in downtown Salt Lake City, within half a block of the convention center. Wasatch intends to renovate the remaining above ground floors of the structure for some mixture of office space and residential condominiums.

Management is seeking funds to complete a renovation of the building through bank financing.

Richard Surber, AXIA's president and chief executive officer, commented that, "The renovation and revitalization of the Wallace-Bennet building is a good example of AXIA's commitment to purchasing undervalued real estate for limited cash consideration and turning that investment into shareholder value."

AXIA is a diversified holding company that provides financial consulting services to private and public companies within a distinctive compensation structure that emphasizes securities-based consideration.

AXIA is also involved in identifying commercial real estate that can be acquired with limited cash infusions tied to favorable financing, improved upon with competent management, and then sold or held as commercially viable real estate. AXIA currently owns commercial and residential real estate located throughout the United States in addition to a portfolio of micro-cap to small-cap public securities.

For more information on AXIA's business and real estate holdings, please visit www.axiagroupinc.com. For more information on AXIA's consulting services, please visit www.hudsonconsult.com. AXIA strongly encourages the public to read the above information in conjunction with its Form 10KSB for Dec. 31, 2000, and 10QSB for Sept. 30, 2001. The above documents can be viewed at www.sec.gov.

A number of statements contained in this press release are forward-looking statements which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

These forward-looking statements involve a number of risks and uncertainties including, but not limited to, competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. The actual results that AXIA may achieve could differ materially from any forward-looking statements due to such 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 various other factors.