Shareholder Update

At this time we want to update our shareholders on the progress we have made in restructuring the Company and the implementing of our strategy for growth.

INTERNET BUSINESS INTERNATIONAL, INC. (PRWEB) June 16, 2002
SHAREHOLDER UPDATE
June 14, 2002, Las Vegas Nevada, at this time we want to update our shareholders on the progress we have made in restructuring the Company and the implementing of our strategy for growth.
We have been focusing our resources and efforts on building our Internet Services Subsidiary, 2X Inc. -- that includes
a.   2X Access; national dial-up ISP and DSL service;
b.   2X Wireless, high speed internet service in Las Vegas, NV, Moreno Valley, CA and Woodland, CA; and
c.   2X Development; web design and hosting businesses.

The primary rationale for concentrating on, dial-up, DSL, wireless Internet services and hosting is due to the recurring income that caricaturizes this business.

Although the Internet is a very competitive arena we have developed a presence in specific geographic areas -- most notably with 2X Wirelesss efforts in creating a wireless Internet coverage umbrella for Las Vegas and success in signing up businesses and government agencies.

We expect to complete the sale of Ace Optics before the end of this fiscal year, the details of which will be available once the final sales agreement is completed.

We will be spinning off the Global Buying Group and Guarantee Capital Group the on line Mortgage subsidiary. We expect to fully complete our restructuring, including the sales and spin-off of the aforementioned company operations, by the end of 2002. We are consolidating BC Lenders and Leasing Online into the Direct Marketing Subsidiary, 1st 2 Market Inc., which is a subsidiary of IBII and will provide the marketing support for Internet Businesss International and its properties

We are investigating new sources of funding for the capital to expand our wireless broadband communications network into more high-opportunity demographic markets and build up online lending operations.

We firmly believe our decision to focus on expanding our wireless and selling or spinning off our e-commerce and online lending businesses properties will produce the most benefit for our shareholders over the next year. Thank you for your support and patience.

Sincerely Albert Reda CEO,
For additional information please email; info@ibui.net
Certain statements in this filing may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors created by those rules. All statements, other then statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.