BusinessMall.com Names John P. Scafidi CEO.

Business Editors/High-Tech Writers

CLEARWATER, Fla.--(BUSINESS WIRE)--Oct. 6, 2000

BusinessMall.com, Inc, (OTCBB:BMAL) announced today that John P. Scafidi has been named Chairman of the Board and Chief Executive Officer. John Scafidi was previously the Chief Financial Officer for a long distance service provider. He brings to BusinessMall nearly 20 years of financial and telecommunications experience and a demonstrated track record of successfully growing small businesses. During the past four years, Mr. Scafidi's focus has been on establishing auditing procedures, controlling expenses and managing cash flow that has resulted in dramatically increased profitability. His experience also covers many years of involvement in mergers and acquisitions as well as the structuring of various financial vehicles specifically designed for turning companies around. Previously, he served as the Vice President of Acquisitions for Atlas Communications, a facilities-based carrier.

"John Scafidi brings to BusinessMall an extraordinary and rare ability to conceptualize and champion clear business strategies while staying focused on achieving operational results," said Michael Kogan, COO. " He is results oriented, with an expansive focus on business development. He applies that to a strategic understanding of growth opportunities and he is absolutely committed to a prosperous future for BusinessMall, its customers, employees and shareholders."

"I am excited about the opportunity to join BusinessMall.com," stated John Scafidi. "I am looking forward to working with management to formulate a restructuring plan that will improve our focus and management attention on the growth opportunities ahead."

About the Company and its subsidiaries: BusinessMall.com is currently adopting a plan for the restructuring of our business model; financially, organizationally and in the marketplaces that we serve. The company is restructuring, reengineering and building for the future.

This press release contains forward-looking statements. The words "estimates", "pursuing" and "seeking" and similar expressions identify forward-looking statements, which speak only as to the date of the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject to include, but not limited to, the effect of government regulation, competition and other material risks.