Concorde Strategies Group, Inc. Announces Proposed Acquisition of W3 Group, Inc.

NEW YORK--(BUSINESS WIRE)--March 26, 1999--Concorde Strategies Group, Inc. (OTCBB: CSGG) announced plans for a reorganization of its current business operations. Although still in its formative stages, the major points relating to this restructure are as follows:

1. Concorde has reached agreement, subject to approval by the

Concorde shareholders, for the divestiture of L'Abbigliamento,

which has been Concorde's sole operating subsidiary. The parties

have agreed that effective the close of business March 31, 1999,

L'Abbigliamento will resume operations as an independent private

company. Management of L'Abbigliamento has agreed to the return

of 100% of Concorde's Class A preferred Shares in exchange for

the return of 100% of the capital stock of L'Abbigliamento. As

part of the divestiture, the outstanding loan from Concorde to

L'Abbigliamento in the amount of $158,000, will be repaid to

Concorde over a five year period with interest at 6% per annum.

Final agreements are expected to be signed in the near future.

2. Concorde also announced that, as part of its reorganization, it

entered into a letter of intent with W3 Group, Inc. ("W3"), a

recently formed privately held company engaged in the business of

acquiring and developing young companies whose businesses involve

the development of internet related technology. Certain present

and former officers and directors of Concorde also have an

interest in W3. Although subject to formal agreement being signed

and ratification by Concorde shareholders, the W3 letter of

intent calls for Concorde to effect a reverse split of its common

stock of not less than 1-for-15 and not more than 1-for-30, after

which approximately 3,275,000 new shares of Concorde common stock

will be issued to the W3 shareholders in exchange for 100% of

W3's common stock. It should be noted that, although the number

of outstanding shares of Concorde's Series B Preferred Stock 

will remain unchanged, the conversion feature will be adjusted to

reflect the reverse split of the common stock. The final terms,

including the extent of the reverse split, will be decided

following completion of the due diligence investigation of W3.

W3 Group, Inc. was formed to be an incubator for Internet related technology companies. W3 Group's objective is to acquire and develop partnership companies with unusual growth potential, provide management guidance and services and assist with capital formation. W3 Group, Inc. recently executed letters of intent to acquire two privately owned companies, CompuNational, Inc., and Secure-Net Services, Inc., through an exchange of shares.

CompuNational, Inc. is located in Van Nuys, California and was founded in 1997. The company provides services to the construction industry through its Plans on Demand (TM) system. This secure Internet system is a unique, cost effective, state of the art system for quick and customized electronic transmission of blueprints and specification documents. The company also offers the construction industry web design services; "CompuWheel", a digital pen for calculations; archiving systems, advertising capability, and hardware sales.

Secure-Net Services, Inc. is located in Coral Springs, Florida and was founded in 1996. The company is marketing an authentication software security product for Windows 95/98 based systems. This leading edge software requires both a password and hand held token in order to gain entry into secured systems.

Mr. Robert Gordon, President of Concorde stated, "We believe that the contemplated restructuring of our operations will be in the best interest of our shareholders in the long run. We believe that the new focus for the future, development of internet related companies, will provide the focus and direction to lead into the explosive internet market. Of course, once the details have all been agreed upon we will present the entire program for approval by our shareholders."

This press release contains forward-looking statements that involve a number of risks and uncertainties. The proposed transaction is subject to a non-binding letter of intent, with a definitive agreement to be negotiated. The asset transaction is subject to the satisfaction of certain conditions, some of which are outside the Company's control. Accordingly, there can be no assurances that the transaction will be completed. Other factors could cause actual results to differ materially from those reflected in forward-looking statements made from time to time in news releases, reports, proxy statements, registration statements and other written communications, as well as oral statements made from time to time by representatives of the Company.