eLocity Signs Letter Of Intent To Acquire American Eagle II

    SARASOTA, Fla.--May 15, 2001--eLocity Networks Corporation (OTCBB:ELOC), today announced that it has entered into an Letter Of Intent with American Eagle II, Inc.
    American Eagle II, Inc., is a private corporation located in Encinitas, California that has entered into an Letter Of Intent to acquire the assets and liabilities of American Eagle Motorcycle Company, Inc. This new corporation was formed in order to revise and expand the operations of the former corporation.

About American Eagle Motorcycle Company, Inc.

    American Eagle Motorcycle Company, Inc., is a private corporation, founded in 1995, to develop, produce and market American-made motorcycles. American Eagle designed several motorcycle models during 1995 and began limited production in 1996. After developing an initial dealer network, American Eagle shipped its first units mid-year, 1996. Some of the models include the STM Cruiser, HTC Cal Chopper, STC Chopper and the Silver Eagle. In addition, American Eagle has developed a new state of the art "proprietary" V-Twin Sport Cruiser motorcycle called the "STX". Designed from the ground up, this bike is years ahead of the competition with ground-breaking design, performance and handling. Coupled with competitive pricing, the Company feels that it has a real winner for 2002. View pictures and information on the STX here- http://www.elocity.com/ae/new/stx.html

    eLocity's CEO Thomas Clay stated: "This pending acquisition will propel our company and allow us to develop our new "motion division" of the eLocity Network. With the American Eagle motorcycle line leading this division we feel we are off to a great start."
    Users may see the product line of American Eagle by going to - http://www.elocity.com/ae/new/default.asp
    American Eagle will have its dedicated web site located at - http://www.americaneagles.com
    American Eagle President Greg Spak stated: "We are very excited about teaming up with eLocity, to bring the new "STX" line of high performance V-Twin motorcycles, to the market place. This is the bike that the american riders have been waiting for, a big V-Twin that runs with the sport machines."

About eLocity Networks Corporation (ELOC)

    Formerly known as Chattown.com Network Inc, the Company changed its name to eLocity to better reflect its new business model. The Company is concentrating on building two diverse networks, Internet and real product. eLocity currently owns a variety of web sites, including Chattown.com, CashPrize.com, Bell2Bell.com, HoundDog.com and others.

    A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development, and market acceptance, of products and technologies, competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. The actual results that eLocity Networks Corporation may achieve may differ materially from any forward-looking statements due to such risks and uncertainties. Management strongly recommends that you read this press release in conjunction with its most recent Form 10-Q and Form 10-K, as well as its other public disclosure documents, which can be viewed at http://www.sec.gov.