Auteo Media, Inc. Announces Settlement of Debt for Common Shares

    LAS VEGAS--June 3, 2003--Auteo Media, Inc. (OTCBB:AUTM) announced today that the company has agreed to issue shares of its common stock in cancellation of indebted to settle a debt owing to a director of the company in the amount of $20,000 USD at an agreed price of $0.05 per share.
    In addition, the company has also agreed to convert a note payable of $4,000 into 100,000 shares of common stock to an unrelated third party.

    This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The matters discussed in this news release also involve risks and uncertainties described from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking information contained in this news release and all information is qualified in its entirety by the Company's filings with the Securities and Exchange Commission.