Ballynagee Acquisition Corp. - Announcement.

CENTURY CITY, Calif.--(BUSINESS WIRE)--Oct. 13, 1999--

The Board of Directors has approved , declared it advisable and in the best interest of the Company, and the majority of the Company's shareholders have by written consent approved the amendment of Article IV of the Company's Certificate of Incorporation to increase the authorized capital stock from 30,000,000 shares to 110,000,000 shares. The Board believes it is advisable and in the Company's best interest to have available additional authorized but unissued common shares in an amount adequate to provide for the future needs of the Company. This step is necessary, in the judgement of the Board of Directors, in order to attract potential new equity capital and to carry out the Company's business objectives.

The Board and the majority of shareholders also approved the amendments to Article I of the Company's Certificate of Incorporation to change the name of the Company from Ballynagee Acquisition Corp. to e-Financial Depot.com Inc. The Board believes it advisable and in the Company's best interests that its name reflect the proposed new business of the Company, which will be an internet based financial services business.

In addition, the Company announced today the approval of a 4 shares for every one share stock dividend on its common stock.

The record date for the stock dividend was October 4, 1999 and the dividend will be distributed beginning October 15, 1999. The NASD has advised that the effective date on the OTCBB (the "ex-dividend" date) will be October 18, 1999.

On behalf of the Board (signed) J.F.Huguet, President and CEO 

Cusip # 05873F109