Avenue Group Inc. Retains PMR and Associates LLC as Public and Investor Relations Firm.

Business Editors

SHERMAN OAKS, Calif.--(BUSINESS WIRE)--Jan. 29, 2004

Avenue Group Inc. (OTCBB:AVNU) (Frankfurt:ITQ) (the "company") announced today that it has retained the services of PMR and Associates LLC of Del Mar, Calif. to provide public and investor relations and business development services on its behalf. PMR and Associates provides consulting services to private and public companies in areas ranging from corporate finance, acquisitions, business development and investor relations. Under the leadership of Patrick M. Rost, PMR and Associates has developed a strong track record of representation of NASDAQ and OTC BB clients.

Rost is a graduate of the Catholic University of America, Columbus School of Law in Washington, D.C., and the Notre Dame London Law Centre, Concannon School of International Law and Finance. He has previously served on the board of directors of several organizations, including the American Liver Foundation (San Diego Chapter) and the Scripps Memorial Hospital Steven's Cancer Center Annual Fund Raising Event.

In making the announcement, Levi Mochkin, CEO of Avenue Group Inc., stated, "We are pleased to have selected PMR and Associates. We found them to be a suitable partner in providing the services we were seeking to take Avenue to the next level and beyond. We are indeed fortunate to have these professionals assisting us in implementing this aspect of our business plan."

"I am very excited about working with the management team of Avenue Group Inc. The oil and gas sector has always presented tremendous opportunities for investors in the public markets. The region in Turkey where Avenue is currently exploring is very exciting," added Rost.

Certain information contained in this press release is considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"), which became law in December 1995. In order to obtain the benefits of the "safe harbor" provisions of the Act for any such forward-looking statements, we wish to caution investors and prospective investors about significant factors which, among others, have in some cases affected our actual results and are in the future likely to affect our actual results and cause them to differ materially from those expressed in any such forward-looking statements. This press release contains forward-looking statements relating to future operational and business prospects. Actual results may differ as a result of factors over which we have no control, including general economic and business conditions; competition; success of operating initiatives; operating costs; advertising and promotional efforts; the existence or absence of adverse publicity; changes in business strategy or development plans; the ability to retain management; availability, terms and deployment of capital; business abilities and judgment of personnel; availability of qualified personnel; labor and employment benefit costs; changes in, or failure to comply with various government regulations; slower than anticipated completion of Research and development projects and movements in the foreign exchange rate. Future results with respect to oil and gas properties would be subject to the timing and amount of capital expenditures by us; drilling of wells; timing and amount of future production of oil and gas; operating costs and other expenses; cash flow and anticipated liquidity; prospect development and property acquisitions; and our marketing of oil and gas. Other factors which could affect our results with respect to its future oil and gas operation are the consummation of our acquisition of an interest in Anzoil (Thailand) Pty Ltd and the timing of such transaction. These other factors include, among others: general economic conditions; oil and gas price volatility; our ability to find, acquire, market, develop and produce new properties; the risks associated with acquisitions and exploration; operating hazards attendant to the oil and gas business; downhole drilling and completion risks that are generally not recoverable from third parties or insurance; uncertainties in the estimation of proved reserves and in the projection of future rates of production and timing of development expenditures; potential mechanical failure or underperformance of significant wells; the strength and financial resources of our competitors and our ability to find and retain skilled personnel.