SMX Corp. Rescinds Merger With RaceWay.net Inc.

    BOCA RATON, Fla.--March 2, 2001--SMX Corp. (OTC:SMXP) announced today that it will rescind its December 2000 merger with RaceWay.net, Inc. of Boca Raton, Florida and seek appropriate relief relating to its advances to RaceWay. According to SMX, certain facts and events came to light after the merger with RaceWay, which have caused SMX to rescind the transaction.
    SMX intends to continue to pursue business opportunities in the area of NASCAR memorabilia and collectibles and expects to announce new efforts in that market segment in the near future. It believes it has the necessary capital to pursue such endeavors.