X-Clearing Corporation Announces Court Success.

Business Editors

DENVER--(BUSINESS WIRE)--April 15, 2003

X-Clearing Corporation in its actions against The Depository Trust Company won its Motion to Remand on Friday, April 11, 2003, in Federal District Court, with Judge Richard Matsch.

The order stated, "The Plaintiff's complaint does not raise a federal question under the Securities Exchange At, the SEC rules or any other federal law." Further, "The shares held by the defendant and owned by others is not relevant to determine the amount in controversy. What is in question here is the claimed interference with the plaintiff's duties as transfer agent for the Issuers of the stock."

The case was filed in Denver District Court originally, and at the eleventh hour removed to federal court by DTC. "This was another attempt by DTC to stall and obfuscate the issue," says Richard Ruh, counsel for X-Clearing Corporation.

"We are extremely excited about this ruling. This order provides nice precedence and also clearly hones the case for state court," says Robert Stevens, President of X-Clearing Corporation.

X-Clearing Corporation is a Denver based Transfer Agent and participant in what the media terms "The OTC Rebellion" against naked short-selling and the clearing system in the United States. X-Clearing Corporation has successfully exited a series of companies from DTC's failed electronic clearing system, and its currently suing for the rights of its business and the rights of its client companies.