Vector Energy Announces Joint Venture With Mr. John Peterson & I.T. Development/Obtains Exclusive Rights to Revolutionary Proprietary Internet Technology.

HOUSTON--(BUSINESS WIRE)--Aug. 10, 1999--

Vector Energy Corporation (OTC BB:VECT), through its Chairman and CEO, Sam Skipper, announced today that it is joint venturing with Mr. John Peterson, President of IT Technology & Crimecheck.com to debut a revolutionary proprietary Internet technology dubbed "ISERV.COM," of which Vector has exclusive rights pertaining to service companies.

ISERV.COM is based on Inbound-Outbound technology whereby prospective customers across the U.S. are matched with service companies that provide a service the prospective customer is in need of. Examples of this may be plumbing, HVAC, and electrical. Using a variety of tools designed to automate both inbound and outbound information streams, combined with powerful decision support programs, this inbound-outbound system easily facilitates a transaction between a prospective customer and service supplier. An example of this may be a consumer whose air conditioning breaks down on a sweltering day and is in the need of a heating/ventilating/air conditioning (HVAC) repair contractor. The prospective customer in need of service accesses the ISERV.com web channel and inputs all pertinent information about the condition at hand. IBOB then contacts all qualified, pre-screened ISERV subscribing HVAC contractors in the customer's area by telephone, cell-phone, fax, and e-mail all instantaneously. The HVAC contractor then retrieves the information supplied by the customer about the job either on-line, by fax, telephone, cell-phone, or digital pager. If the job is accepted by the HVAC service contractor, they respond to ISERV by touch-tone telephone or computer. The customer is then notified immediately by telephone so that scheduling arrangements can be made for repair to the inoperative air conditioner.

This technology was invented by Mr. John Peterson, President of IT Development and Crimecheck.com. This technology is currently being utilized by Mr. Peterson in the notary industry of which there are over 1000 subscribers. Mr. Peterson has vast experience in the development of Internet technology and has developed geographic reference software for companies such as America Online (NYSE:AOL) and Microsoft (NASDAQ:MSFT).

It is anticipated by Vector that ISERV.COM will be fully operational within 90 days and that ISERV.COM will become an operating subsidiary of Vector. A name change for Vector is also a possibility and will be made public as developments warrant. Mr. John Peterson, in conjunction with Mr. Skipper, will head up all ISERV.COM activities and Mr. Peterson will either serve as an officer or consultant of ISERV, whichever best serves the company.

Vector Energy is a fully reporting Houston-based energy company primarily engaged in acquisition, development, and production of natural gas and crude oil. Additionally, Vector is exploring various avenues of acquisition in the ISP (Internet Service Provider) aspect of the Internet industry and has recently signed a letter of intent to acquire an ISP. Vector's dramatic growth is a result of its "Consolidation Strategy" of corporate and property acquisitions, with emphasis on increasing shareholder value through timely and strategic low-risk additions to the company's reserves. For more information on Vector, visit the corporate Web page at www.vectorenergy.com or phone [phone].

This release contains forward looking statements with respect to the results of operations and business of Vector Energy Corporation that involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "safe harbors" provision of the Private Securities Litigation Reform Act of 1995.