Banyan Announces Aqcuisition of Chiropractic USA Development Plan.

Business Editors & Technology Writers

COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--May 7, 2001

The Board of Directors of Banyan Corporation (NQB Pinks: BANY) announces that the Company has acquired from newly appointed President, Cory Gelmon, and newly appointed CEO, Michael Gelmon, the intellectual property for the growth and development of "Chiropractic USA", an aggressive plan for the development and consolidation of one of the fastest growing recognized forms of health care -- Chiropractic clinics. The Gelmons bring multi-unit and franchising expertise to Banyan from their days as Chief Operating Officer and Head of Real Estate and Acquisitions at Domino's Pizza of Canada Ltd., the Master Franchise of Domino's Pizza in Canada, a company which they founded and developed to a 200-store chain before selling out.

Cory Gelmon commented: "We have an excellent plan for the development and consolidation of Chiropractic clinics across North America, which is a huge growth industry, with virtually no brand awareness and no national players. Through a disciplined strategy of acquisitions and corporate clinic development, we believe that we can create a national chain in a relatively short period of time." CEO Michael Gelmon said, "While we have some housekeeping to do with Banyan's existing businesses, the development of Chiropractic USA is a priority."

Banyan Corporation is a publicly traded holding company focused on investing in and building a network of operating subsidiaries engaged in various innovative businesses, including the development of branded Chiropractic clinics throughout North America; designing, manufacturing and marketing products and services aimed at the personal computer market, and Internet e-commerce services. Banyan sells a line of hard-sided protective carrying cases for notebook computers under the DoubleCase brand name and provides e-commerce services, primarily the design of Internet sites for commercial customers through its subsidiary TopListing.com. Banyan's products are currently available through distribution from Ingram Micro and sold through a wide variety of Internet e-commerce storefronts, computer mail order catalogs, Value Added Resellers (VARs), a number of overseas vendors, and to the U.S. government.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Banyan Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high-technology industry, plans for future expansion, various business development activities, planed capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Banyan Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors. For a description of additional risks and uncertainties, please refer to Banyan's filings with the Securities and Exchange Commission.