CeleXx Retains iCapital for Investment Banking; Signs Letter of Intent to Acquire In-House Productions.

Business Editors/High-Tech Writers

BOCA RATON, Fla.--(BUSINESS WIRE)--Dec. 13, 2000

CeleXx Corporation (OTCBB:CLXX), a rapidly growing e-business integrator, today announced that it has retained iCapital Corporation to provide capital financing, and merger and acquisition planning to assist in the company's ongoing acquisition strategy. At the same time, the company also announced its plans to acquire IHP, Inc. (In-House Productions) of San Ramon, California.

Randall Letcavage, managing director of iCapital, said, "CeleXx is poised to achieve a leadership position in the networking and e-business integration sectors, and to do it quickly."

Consistent with this strategy, CeleXx has signed a Letter of Intent with IHP, Inc. and intends to close the acquisition in January 2001. IHP, a 10-year old multi-platform e-learning provider, multimedia developer and value added reseller of e-learning development tools, has been working closely with CeleXx under a strategic alliance since earlier this year. In-House Productions will add a Macromedia and IT tools training center to the CeleXx line-up, fortifying relationships with existing customers and extending the company's project management abilities.

"The acquisition of In-House Productions represents an important step in moving the company's e-learning initiative forward to service an increasing client demand for customized learning management development and implementation," noted Vincent A Caminiti, CeleXx senior vice president of business development.

It is expected that iCapital's meaningful identity in the investment community will aid the company in other strategic acquisitions. iCapital provides access to financing of up to $100 million and extensive merger and acquisition experience.

CeleXx Corporation is an integrated management company involved in the acquisition, consolidation and operation of private information technology businesses. The centralized headquarters in Boca Raton, FL provides the overall management and direction for the operating entities, which are defined in four groups as Integrated Solutions, Performance Media, Information Engineering and Special Applications. For more information, please visit the CeleXx corporate web site at www.celexx.com

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements refer to future events, Company plans, management expectations and the like. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements. Risks and uncertainties such as general economic conditions, management's ability to carry out plans, market conditions, political climates, financing and many other factors exist that may cause actual results to differ materially.