Auxer Group Prepares For Filing Of Form 10-SB

14 July 1999

Auxer Group Prepares For Filing Of Form 10-SB

    WAYNE, NJ--July 13, 1999--The Auxer Group, Inc. (OTC BB: AXGI) announced today that it has been in the process of preparing to file its Form 10-SB with the Securities and Exchange Commission (SEC) and intends to file in time to be effective for the fall.
    Mr. Eugene Chiaramonte, Chairman of The Auxer Group, stated, "Our accountants and securities counsel has been vigorously preparing the documentation necessary to submit to the SEC. We anticipate being completed with the documentation shortly and filing in time to be effective this fall. We are taking these steps on behalf of the stockholders to ensure The Auxer Group continues to remain eligible for listing on the OTC Bulletin Board under the new eligibility rules of the National Association of Securities Dealers. This is an exciting time for us as we formally recognize that the company has grown and developed to the point where we qualify for reporting status with the Securities and Exchange Commission. I believe the process of becoming a reporting company demonstrates this company's accomplishments over the past couple years as a young development stage company and signifies a shift in focus to a growth and revenue producing entity. The management team at Auxer believes we have a strong future ahead of us as we enter this new phase."

    ABOUT THE COMPANY

    The Auxer Group, Inc. (OTC-BB "AXGI") is an investment holding company that is comprised of three wholly-owned subsidiaries: Harvey Westbury Corporation, CT Industries and Hardyston Distributors. Auxer Group is a manufacturer, wholesaler and distributor of automotive, marine and aviation after-market and hardware products. These products are currently sold to major retail chains around the country including, PEP BOYS, MANNY, MO and JACK, CARQUEST, PARTS AMERICA (WESTERN AUTO), WAL MART, KMART, WEST MARINE just to name a few. The Auxer Groups' most well known products include Easy Test Testers and Air Conditioning Accessories, GARRY'S ROYAL SATIN WAX AND POLISHES (a 70 year old superior car and marine wax line), FORMULA 2000 ULTIMATE (A high performance engine treatment).

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, competition, new products and technological changes, intellectual property rights and other risks.

For more information please visit our websites at www.auxer.com