Daleco Resources Announces the Acquisition of 16/6, Inc.

Business Editors/Hi-Tech Writers

WEST CHESTER, Pa.--(BUSINESS WIRE)--July 10, 2001

Daleco Resources Corporation (OTCBB:DLOV) announced today that it has entered into an agreement to acquire 16/6, Inc., a West Chester based technology firm.

"The technology properties of 16/6 will add well to Daleco's portfolio of diversified assets and further its assets and technology aggregation and monetization focus," said Gary Novinskie, President of Daleco. "When we first started dealing with 16/6 it was to utilize their patent pending content monetization technology in the areas of energy, natural resources, and environmental remediation and augment the Company's Natural Resource Exchange (www.B1S1.com) efforts. However, after identifying the enormous applications of this technology in other areas as well as the human resources and potential corporate relationships available through greater involvement with 16/6, the corporation acquisition became the most viable course of action."

I-Squared is a branded software technology utilizing a pending method patent which is wrapped within an easy access application that utilizes Universal Identification Number (UIN) and telephony technologies to provide a system for the piecewise delivery and monetization of content over all electronic delivery channels.

Simply stated, it creates the ability to easily buy varying amounts of content and to have the costs processed through your phone bill.

"We believe that given our patent pending methodology and our strategic partners we will set the standard by which content will be bought and sold through electronic channels in the future," stated 16/6 Managing Director William Pipkin, a 20 year veteran of commercializing technology for Hewlett Packard. "I-Square is a legally protected back-end operating system which creates the toll booth that has the potential to unleash the enormous volume of content that is waiting for a proper and efficient commercial channel to the public market. It will allow academia, business, legal, and technology firms to monetize their vast stores of content."

In addition, 16/6 is in discussion with several industry partners for the commercialization of its ITOP 1.0 information technology optimization software. The operating logic for ITOP 1.0 was taken from the money management consulting model of the 70's and 80's. ITOP allows corporations to manage, in real time, their IT spending and infrastructure requirements.

It is estimated that the industry IT spending will reach over $2.5 trillion in 5 years and that ITOP will allow corporations to more effectively manage that spending.

Daleco Resources Corporation is an international natural resource company with holdings in oil and gas, timber, minerals, and associated technology.

16/6, Inc. develops, incubates, and commercializes proprietary software technologies for corporate management and content commerce. It also provides advisory services to others wishing to commercialize their technologies

Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the Company's domestic and international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.