Equus Resources Announces Director of Special Projects and New Business Development.

ATLANTA -- Equus Resources, Inc. (OTC:EQUR) ("Equus") today named James A. (Jim) Jones as its Director of Special Projects and New Business Development. In this position, Jim will take a central role in the analysis and implementation of new business opportunities for Equus and will also serve as a corporate "trouble shooter" for the Equus senior executives.

Jim, age 58, has more than 30 years' experience in the information systems industry. Consistent outstanding performance in this industry enabled Jim to advance from an administrative position through sales and marketing into executive management. Jim spent 15 years at IBM before moving to Wang Laboratories where he handled Wang's business with General Motors/EDS worldwide and managed a large district marketing operation which covered 6 southeastern states through 9 branch offices. Subsequently, Jim worked as a consultant to several technology-oriented companies on development and implementation of sales and marketing strategies.

For 7 years, Jim worked with The Information Management Forum (IMF) as its Managing Director. IMF is a well-recognized association of business and information systems executives from Fortune 1000 companies, government agencies and non-profit entities. At IMF, Jim created and managed research and focus groups on business, information systems and human resources. Jim's depth and breadth of expertise was tapped by the Governor of Georgia in 1998 when he was asked to be a member and the reporting secretary of Georgia's Year 2000 Citizens' Taskforce. This organization monitored and reported on the preparedness of all Georgia state agencies, crucial utilities and services to cope with the millennium computer problem.

In making this announcement, Randy Harris, President of Equus, commented, "Jim Jones brings us a wealth of experience and expertise across a wide range of companies and industry segments. His background in understanding and evaluating organizations' business structures, plans, work flows, finances and human resources at the highest executive levels will be invaluable to us as we move forward to implement our growth strategies. Jim is one of the most articulate, diligent, and creative individuals with whom I have ever worked. One of his greatest attributes is that he cares about people and recognizes that our employees are our single greatest resource. We consider our company extremely fortunate to have someone of the caliber and character of Jim Jones accept this position."

About Equus Resources

Equus Resources is a multi-faceted financial services company that offers consumer and commercial clients a broad range of mortgage and insurance products, mainly in the southeastern states. Equus plans to expand its business through internal growth and acquisition and to add new financial products and services as demand warrants. Equus is headquartered in Roswell, Georgia, a suburb of Atlanta. For more information, please visit us at www.equusresources.com and www.teamonemortgage.com or e-mail us at [e-mail] and we will be happy to add you to our electronic mailing list.

Forward-Looking Statements:

Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, the receipt of revenues, and other factors, many of which are beyond the control of the Company. The Company disclaims any obligation to update information contained in any forward-looking statement.