Commercial Consolidators Corp. Closes Acquisition of U.S. Based International Wireless Company.

Business Editors

TORONTO--(BUSINESS WIRE)--Aug. 1, 2000

Commercial Consildated Corp. (CDNX:CCZ)(FRANKFURT:CJ9) has formally closed its April acquisition to acquire a 100% interest in YAM International Communications Inc. ("YAM Wireless") a Florida based wireless company.

Founded in 1994, YAM Wireless is a provider of wireless/cellular products focused throughout the "Americas" (North, South & Central). YAM Wireless customers include leading international network operators, wireless equipment manufacturers and strategic distribution channels for network operators such as Venezuela's largest analogue and digital carriers "Telecell Venezuela" and "MobileNet", as well as Israel's national carriers "Cellcom" and "Pele-Telephone". Wireless equipment manufacturer clients include Motorola, Nokia, Ericsson and Samsung.

YAM Wireless reported audited earnings for the quarter ending March 31, 2000 of CDN $710,000 on sales of $10.3 million and has realized sales and earnings growth in excess of 100% per annum in recent years.

CCZ purchased 100% of the issued and outstanding shares of YAM Wireless from its two owners Yossi Vanon and Shanni Sasson, for a total of US $3.3 million in cash and the issuance of 1.247 million common shares from treasury at $3.75 per share. CCZ has also entered into employment contracts with Messrs. Vanon and Sasson whereby CCZ will pay them a total of US $250,000 per year in fees and issue an aggregate of 450,000 stock options (with 150,000 vesting per year) at $3.75 per share, subject to YAM Wireless attaining mutually agreed upon financial performance targets.

YAM Wireless is implementing a comprehensive strategic plan to expand its presence as a dominant fulfillment house and supplier of wireless/cellular products within both the supply and demand chain of the wireless telecommunications industry. YAM Wireless helps network operators realize operational efficiencies by providing outsource solutions and assists wireless equipment manufacturers with inventory management, fulfillment, marketing support programs, accessory programs and repair and refurbishment services.

CCZ's Chairman, Michael Weingarten, states "The YAM wireless acquisition provides CCZ with diversification into the fast growing wireless and cellular market sector, and enables CCZ to use YAM Wireless's established presence in the Americas to further penetrate such markets for its own business technology and consumer electronics product lines. Also, CCZ will be able to introduce new markets and complementary technologies and product lines to the YAM Wireless customer base through its existing exclusive relationships with multinational electronics companies such as Samsung, Sanyo and Phillips as well as its own proprietary General Vision product lines. Furthermore, CCZ will use the acquisition of YAM Wireless cellular and wireless expertise to further develop and expand its own Business-to-Business Internet e-commerce strategy throughout the Americas and elsewhere."

CCZ plans to acquire other synergistic companies to combine its own marketing and distribution infrastructure and capabilities with leading edge companies' technologies, products and services.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Weingarten

The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.