Ramoil Management Ltd. Announces Union Bank of Switzerland to Act as Lead Bank in Australian - New Zealand Acquisition

    LAS VEGAS--June 27, 2001--Ramoil Management Ltd.'s (OTC:RAMO) Vice Chairman, J. Christopher Kennedy, announced today that Ramoil Management's Chairman, Gary W. Walters, has selected Union Bank of Switzerland (UBS) to act as the lead banking institution in Ramoil Management's quest to acquire Australia's largest automotive parts supplier, wholesaler and retailer, Pacific Automotive, a division of Pacific Dunlop.
    Pacific Automotive has annual sales of approximately $800,000,000 USD. The acquisition is expected to cost Ramoil Management approximately $150,000,000 USD in an all cash transaction.
    Ramoil Management has to overcome several other qualified contenders based in Australia in its drive to capture this dominant player in the expanding Australia and New Zealand automotive parts market. Kennedy stated that Ramoil Management believes it can grow Pacific Automotive's gross annual sales approximately 15% to 18% a year (Averaged) over the next five years.
    Ramoil Management has had a six member expert Merger and Acquisitions (M&A) team in Melbourne, Australia, for more than a week conducting due diligence regarding this proposed acquisition. Ramoil Management's national headquarters offices were recently relocated to Las Vegas.

    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.