Ramoil Management LTD. Cancels Special Shareholders Meeting

    LAS VEGAS, June 4 Ramoil Management, LTD (OTC: RAMO)
Ramoil announced today that management has made the decision to cancel the
Special meeting that was to be held on June 30, 2001, at the Anthem
Auditorium, Henderson, Nevada.
    CEO, Gary Walters, said there were still several issues that needed to be
reviewed prior to the special shareholders meeting.  The cancellation resulted
from the failure to receive needed information from the previous officers of
the company, Mr. Radulovic and Mr. Taflevich.  Mr. Walters stated that it was
imperative for the company to be able to review documents that had been
executed by the previous officers, prior to conducting this special
shareholders meeting.
    Management regrets this delay but will make the necessary arrangements to
review the data referenced herein and have the special shareholders meeting
rescheduled within the next ninety days.

    Safe Harbor Forward-Looking Statements
    Except for historical information contained herein, the statements in this
release are forward-looking statements that are made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and uncertainties
that may cause the companies' actual results in future periods to differ
materially from forecasted results.  Such risks and uncertainties include, but
are not limited to, market conditions, competitive factors, the ability to
successfully complete additional financings and other risks.

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