Sara Hallitex Corp. Announces a New Subsidiary, www.SaraIPO.com, Which Will Be Its Link to All Future Direct Public Offerings Available For its Sara-IPO-Dividend Companies.

MARINA DEL REY, Calif.--(BUSINESS WIRE)--March 16, 1999--Garrett K. Krause, president and chief executive officer of Sara Hallitex Corp. (OTC BB:SHAL), confirmed the establishment of SaraIPO.com Inc., the company's new subsidiary, which will offer current and secondary IPO offering memorandums to its SIPOD and Pre-SIPOD companies.

The recent success of Sara's upcoming SIPOD, SolutionNet Inc., a development partner of Oracle Corp. (Nasdaq:ORCL) and Sun Microsystems (Nasdaq:SUNW), has stimulated shareholder demand to buy more stock in the company through an IPO or offering memorandum.

This demand has caused the company to accelerate this new SaraIPO.com program, which will allow the company's investors to participate directly in a number of its participating Sara-IPO-Dividend companies. All offering memorandums on participating Sara companies will be posted at the company's new Web site: www.saraipo.com, which will open soon.

Primary allocation of all SaraIPO shares will be offered to the shareholders of Sara Hallitex on a first-come basis, after which the remaining unsold shares will be available and offered to the general investing public. (All IPO allocations are subject to Securities and Exchange Commission approval and registration.)

Krause commented: "The volume of calls received by our office requesting the opportunity to buy additional shares of SolutionNet Inc. has prompted us to expand the Sara-IPO-Dividend program that not only qualifies the Sara stockholder to receive the free stock dividend, but allow that same stockholder a first right to buy more stock in the SIPOD company at a predetermined SaraIPO offering price.

"This program provides our Sara stockholders the security of having direct access to participate on the ground floor in what is quickly becoming one of the hottest IPO markets in history."

Management of Sara Hallitex is very excited to see the Internet at the point that SaraIPO.com can offer Direct IPOs and secondary offerings in its cutting edge SIPOD companies directly to its shareholders through the Internet.

SaraIPO.com will not only allow its shareholders to receive the exciting stock dividends through its SIPOD program, but also the right to buy more stock in each company at the IPO level. This program will also be used to raise secondary offerings and private placements for Sara's current SIPOD companies including SolutionNet.

Watch for SaraIPO.com, which will be available at www.saraipo.com in the coming weeks as it enters this ground-breaking new venture. All approvals for each prospectus will comply with all rules and regulations of the SEC and the NASD.

In addition, Sara Hallitex confirmed that its second SIPOD, SolutionNet, is scheduled to be listed for trading on the OTCBB the week of March 22, 1999 (watch for official trading day and stock symbol at www.saraonline.com). SolutionNet, the parent company of SR Singapore Pte. Ltd. officially launched it ENET-Internet banking software on Feb. 25, 1999, in Singapore.

The event, which was co-sponsored by Oracle and the Singapore Computer Board, drew media coverage around the world. ENET -- a true Internet online baking solution with current applications worldwide -- has been nominated for the 1998 Internet technology award by Oracle.

SolutionNet is a development partner of Oracle and Sun Microsystems. SolutionNet will have its operations in San Jose, Calif. (Silicon Valley), with its subsidiary operations in Singapore, India and Australia.

All new information on SaraOnline.com's Internet trio of Internet companies including the trading symbols and exact trading dates will be posted on www.saraonline.com over the coming weeks.

Sara Hallitex reserves the right to move the opening listing dates for its SIPOD companies depending on certain market conditions. Refer to the company's Web sites for all current information including listing dates and stock ticker symbols.

Sara Hallitex is a public venture banking firm, dedicated to acquiring and investing in companies, new technologies or projects that, when fully developed, can "spin out" as Nasdaq publicly traded companies, providing solid and appreciable long-term portfolio enhancement for its shareholders.

For more information on Sara Hallitex, look to its World Wide Web page at www.sarahallitex.com or www.saraonline.com or contact Sara Hallitex Corp., 4344 Promenade Way, Suite 102P, Marina del Rey, Calif. 90292; telephone [phone] (investor relations department); fax [phone]; e-mail [e-mail].

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 risk and uncertainties, including without limitation, continued acceptance of the company's services, increased levels of competition for the company and dependence on the performance of the management of the company.