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Wallstreet-Review Receives Funding Commitment and Adds New Biotec Client.

Business Editors

LIGHTHOUSE POINT, Fla.--(BUSINESS WIRE)--Oct. 22, 2001

Wallstreet-Review, Inc. (OTCBB:WALS) a Florida corporation, announces that it has received a key funding commitment for its financial services subsidiary and acquired BioTec Systems, Ltd. as a new client to be taken public this year.

WALS, which recently resumed trading on the Bulletin Board, has obtained a $300,000 commitment in the form of a bridge loan to fund its financial services division. WALS expects to contract and receive funding within the next 30 days, upon completion of further due diligence. The funds will be used to establish an in-house brokerage operation, providing after-market support and investor/public relations for WALS clients, in addition to market making for client issues.

WALS is also negotiating short-term financing for BioTec Systems, Ltd. The company has patented its bioreactor technology to compost municipal waste, which is fast, odorless, free of leachates and one-third the cost of existing less efficient systems. A secondary offering up to $15 million is planned for next year to extend BioTec's first system installation in New York City to other jurisdictions and private operations in the United States, as well as Europe, South America and Asia.

To date, more than 90 national, state, and county governments and municipalities have expressed interest in acquiring BioTec's product. Installation of processing plants in just a fraction of these locations will be worth tens of millions of dollars in annual recurring revenue to the company. BioTec's environmentally sensitive solution to overcrowded landfills has the support of the United Nations, the Organization of American States (OAS) and EximBank, which has formally expressed interest in funding projects within its 35 member states in South America and the Caribbean.

WALS will retain a 20 percent equity ownership of BioTec Systems, of which a portion will be distributed to its shareholders.

WALS is also negotiating financing for WSR Energy Resources, Inc. (OTCBB:WSRE), which is 75% owned by WALS and its shareholders. WSRE is seeking to develop certified oil and natural gas reserves valued at $150 million.

In other news, WALS's wholly owned subsidiary, which recently sold its assets to Spencer's Restaurants, is being turned into a public shell for future use by a WALS client. The market for clean trading shells ranges from $250,000 to $650,000.

WALS has severed its relationship with Meyer Technologies. Meyer was contracted to go public this summer, but has decided to delay this action until a later date.

WALS is a financial services company that assists emerging companies in moving from the private sector to the public markets.

Statements in this news release that are not descriptions of historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expect," "intends," "believes," "plans," "anticipates" and "likely" also identify forward-looking statements. All forward-looking statements are based on current facts and analysis. Actual results may differ materially from those currently anticipated due to a number of factors, including but not limited to, history of operating losses, anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission.

For further information contact: Matthew P. Dwyer, CEO at: 954-784-5044; Facsimile: 954-784-1058; or e-mail: matt@wallstreet-review.net. Additional information is available at the Company's website: http://www.wallstreet-review.net.
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Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Oct 22, 2001
Words:596
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