Ramoil Management Ltd. Continues to Retire Issued and Outstanding Shares While Developing Mediation Settlement Plan With Lukoil

    LAS VEGAS--Nov. 19, 2001--Ramoil Management Ltd. (OTC:RAMO, Pink Sheets) has retired an additional 9 million shares of stock, with an additional 5 million shares expected to be retired, bringing the number of cancelled shares to a grand total of 128,500,000 shares and 42,500,000 issued and active shares. Of this amount the float will adjust to approximately 16,000,000 shares.
    CEO Gary Walters stated, "The return and cancellation of all these previously issued shares enhances the existing share value. Management's decision to choose this path will result in a higher yield market cap by acquiring cash flow blue chip publicly traded companies by recapitalizing the true underlying share value. Our enthusiasm remains high because we have a definite plan for success and we are working that plan."
    In closing, Walters stated, "We are now positioned for the company to move forward on the four (4) stalled acquisitions, which will compliment the existing framework already in place. This will begin immediately following our mediation settlement meeting with Lukoil legal staff, which is scheduled to take place in Florida on Nov. 27, 2001."

    This release includes projections of future results and forward-looking statements as that term is defined in section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All statements that are included in this release, other than historical fact, are forward-looking statements and can give no assurance that such expectations will prove to have been correct.