Group V Corporation Reports Second Quarter Fiscal 1998 Results.

SAN FRANCISCO--(BUSINESS WIRE)--Feb. 20, 1998--Group V Corporation (OTC BB:GRPV) today reported the financial results for the three and six month periods ended December 31, 1997.

For the second quarter ended December 31, 1997, the net loss was $650,050, representing a decrease of approximately $2.9 million from a net loss of $3,529,551 for the comparable period last year.

For the six months ended December 31, 1997, the net loss was $1,022,951 versus a net loss of $3,718,618 for the same period in fiscal 1996 representing a decrease of approximately $2.7 million.

As of December 31, 1997, the Company had $2,353,118 in current assets and weighted average common shares outstanding of 49,834,880. Working capital decreased from $1,926,180 as of June 30, 1997 to $1,386,040 as of December 31, 1997, a direct result of cash used for operating activities.

As of December 31, 1997, the Company had no long term debt to outside creditors. Long-term debt owed to principles of the Company and the original National Pools Corporation (NPC) stockholders totals approximately $1.2 million. The notes will be converted over time based on the earnout as described in the Company's annual report on Form 10-KSB. Subsequent to May 1999, the entire $1.2 million in notes will only be convertible to stock, thus fully converting the debt into equity.

The Company continued its vertical integration strategy in the second quarter fiscal 1998 by entering into agreements in principle with three complementary firms. In September 1997, the Company agreed in principle to acquire a 50% convertible net profits interest in Universal Network Services, Inc. (UNS), a privately-held international telecom provider and licensed long distance telephone carrier with internet telecom systems. The following month, UNS announced a 10 year exclusive regional agreement to provide discounted international internet telecommunications in Taiwan, Republic of China that was valued at $50 million in calendar year 1998 gross revenues.

In October 1997, the Company agreed in principle to purchase a 50% net profits interest in MagNet Telecom, Inc., a privately-held telecom network marketing company and an affiliate of UNS. That month, the Company also agreed in principle to jointly reorganize, develop, and market all of the publishing assets of LottoWorld, Inc. (OTC BB:LTTO).

The Company's wholly-owned subsidiary, National Pools Corporation (NPC), launched its HitLoTTo(TM) Club Card subsequent to the close of the second quarter in February 1998. Sales of the HitLoTTo(TM) Club Card commenced during the third quarter of fiscal 1998, representing the Company's first source of revenue from operating activities.

Joseph Monterosso, president and chairman of Group V, said, "I am pleased to report that NPC's HitLoTTo(TM) Club Card program is up and running, and hope that revenues will follow shortly which will be reflected in our third quarter report."

"With regard to our broader focus on establishing Group V within specialty telecom markets," continued Monterosso, "we continue to prepare UNS, MagNet, and LottoWorld for vertical integration. We hope to announce a conclusion with UNS and MagNet within the next 30 days, and shortly thereafter finalize our agreement with LottoWorld. The companies are already working with each other and Group V on developing new products and services and expanding distribution sources. We are very excited about the working relationships that continue to develop among the three complementary firms."

(financial statements follow)

-0-

                         GROUP V CORPORATION
                   (formerly, NuOasis Gaming, Inc.)
                 Consolidated Condensed Balance Sheet
                 As of December 31, 1997 (Unaudited)

ASSETS

Current Assets:
   Cash and cash equivalents                              $    62,061
   Marketable securities                                    1,585,467
   Advances                                                   705,590
      Total Current Assets                                  2,353,118

Fixed Assets:
   Furniture and equipment                                    101,548
      Less accumulated depreciation                           (61,498)
      Total Fixed Assets, net                                  40,050

Other Assets:                                                   4,605

TOTAL ASSETS                                              $ 2,397,773

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:
   Accounts payable                                       $   438,199
   Due to affiliates                                          426,928
   Accrued expenses and accrued interest                      101,951
      Total Current Liabilities                               967,078

Long Term Liabilities:
   Notes payable                                            1,200,000
      Total Long Term Liabilities                           1,200,000
      Total Liabilities                                     2,167,078

Commitments and Contingencies

Stockholders' Equity:
   Preferred stock - par value $.01;
     authorized 1,000,000 shares; 14%
     cumulative convertible; issued and
     outstanding 170,000 shares
     (aggregate liquidation of $170,000)                        1,700
   Preferred Stock Series B - par
     value $2.00; authorized, issued and
     outstanding 150,000 shares
     (aggregate liquidation of $300,000)                      300,000
   Common stock - par value $.01;
      authorized 333,000,000 shares;
      49,834,880 shares issued and
      outstanding                                             498,348
   Additional paid-in capital                              16,643,791
   Stockholders' receivables                                 (571,717)
   Accumulated deficit                                    (16,641,427)
      Total Stockholders' Equity                              230,695

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                $ 2,397,773

-0-

                         GROUP V CORPORATION
                   (formerly, NuOasis Gaming, Inc.)
           Consolidated Condensed Statements of Operations
    For the Three and Six Months Ended December 31, 1997 and 1996
                             (Unaudited)

                                  For the Three         For the Three
                                   Months Ended          Months Ended
                                  Dec. 31, 1997         Dec. 31, 1996

Costs and Expenses:
 General and
  administrative                  $     207,036         $      25,597
 Professional services                  417,503               185,847
 Depreciation and amortization            4,410                  --
 Interest expense, net                   21,101                  --
 Write down of goodwill                    --               3,318,107
   Totals                               650,050             3,529,551
Net loss                          $    (650,050)        $  (3,529,551)

Net loss applicable to common
 stock                            $    (656,000)        $  (3,535,501)
Net loss per common
 share                            $        (.01)        $        (.12)

Weighted average common
 shares outstanding                  48,568,304            30,000,000

-0-

                                    For the Six           For the Six
                                   Months Ended          Months Ended
                                  Dec. 31, 1997         Dec. 31, 1996

Costs and Expenses:
 General and
  administrative                  $     380,294         $      42,471
 Professional services                  595,351               358,040
 Depreciation and amortization            8,820                  --
 Interest expense, net                   38,486                  --
 Write down of goodwill                    --               3,318,107
   Totals                             1,022,951             3,718,618
Net loss                          $  (1,022,951)        $  (3,718,618)

Net loss applicable to common
 stock                            $  (1,034,851)        $  (3,730,578)
Net loss per common
 share                            $        (.02)        $        (.12)

Weighted average common
 shares outstanding                  48,214,092            30,000,000

-0-

Group V Corporation is a diversified telecommunications software and services company operating in niche markets.

-0-

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

-0-

For more information and updates on Group V Corporation, see www.hitlotto.com and www.otcfn.com/grpv

CONTACT: OTC Communications

Geoffrey J. Eiten, 888/274-8001

or

Group V Corporation

Marcy McCann, 603/964-2021