AmeriNet Announces First Quarter Results.

BOCA RATON, Fla.--(BUSINESS WIRE)--Nov. 22, 1999--

AmeriNet Group.com, Inc., a publicly held Delaware corporation ("AmeriNet") registered under Section 12(g) of the Exchange Act (OTCBB:ABUY) released its financial statements for the quarter ended September 30, 1999, noting that the results will be materially impacted by the subsequent merger of Wriwebs.com, Inc. ("WRI") into its American Internet Technical Center, Inc. ("American Internet"), subsidiary. Audited financial data for WRI and pro forma financial data reflecting the merger is expected to be filed with the Commission during January, 2000.

During the three months ended September 30, 1999 AmeriNet reported revenue of approximately $168,169 as compared to revenue from all sources of $40,677 during the comparable three month period in 1998; AmeriNet's cost of revenues was approximately $69,109 as compared to no cost of revenue during the comparable three month period in 1998; and, AmeriNet reported a net loss of approximately $(377,281) or $(0.05) loss per share, compared to $451 profit or nil per share in the comparable three month period in 1998. Most of the loss ($192,115) was attributable to the accounting treatment required for services provided to AmeriNet on a non-cash basis by The Yankee Companies, Inc. ("Yankees"), AmeriNet's strategic consultant, which was offset by a corresponding presumed capital contribution by Yankees of $192,115. If such item had not been expensed, AmeriNet's loss for the quarter would have been $(185,166) rather than $(377,281) and the loss per share would have been $(0.02) rather than $(0.05). Yankees and AmeriNet have agreed to consider modifications to Yankees compensation arrangements that would not result in distortion of its operating results.

The non-Yankees related losses incurred by American Internet resulted from problems attributable to third party contractors that provided the bulk of the services marketed by American Internet. Management of AmeriNet feels that the acquisition of WRI, which will henceforth provide such services in house, will cure the problems experienced by American Internet and will almost quadruple the number of Internet web accounts it handled from approximately 1,100 to more than 4,100. The consolidation of facilities, equipment and personnel by American Internet and WRI is expected to result in economies of scale which, when coupled with the savings from WRI's in house production and hosting capabilities will reduce operating expenses by approximately $250,000 per year, materially improving profits.

Certain matters discussed in this press release may pertain to "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may involve risks and uncertainties including but not limited to the failure of the parties to agree to definitive terms, resulting in abandonment of acquisition plans, changes in general economic conditions, access to utilities, prices and costs, interest rates, consumer confidence, competition, environmental factors and governmental regulations.