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i-Incubator Announces its Subsidiaries Have Received No Comment Letters From the SEC

3 January 2001

i-Incubator Announces its Subsidiaries Have Received No Comment Letters From the SEC

    MIAMI--Jan. 3, 2001--i-Incubator.com, Inc. (OTCBB:INQU) is pleased to announce today that its four wholly owned subsidiaries, i-CarAuction.com, Inc., i-Teleco.com, Inc., i-AeroBids.com, Inc. and i-AntiqueAuction.com, Inc. as well as its subsidiary i-RealtyAuction.com, Inc., which is thirty (30%) percent owned by Global Realty Management Group, Inc. (OTCBB:GRMG) have received no further comment letters from the Securities and Exchange Commission ("SEC"). The SEC has determined that no review has been or will be made of the subsidiaries' registration statements (Form 10-SBs). Therefore such registration statements are effective on January 30, 2001, 60 days after filing.
    As of such date, each of the subsidiaries will become fully reporting entities under the Security Exchange Act of 1934 and will be required to comply with the reporting requirements of the Exchange Act of 1934, including but not limited to, the filing of annual, quarterly, and other reports with the SEC. i-Incubator.com, Inc. is also pleased to announce its intention to spin off its subsidiaries as soon as possible after the January 30, 2001 effective date. The date of the effectiveness of the spin offs will be forthcoming.

    Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties, and events that may be beyond the control of i-Incubator.com, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain, and successfully complete projects, the availability of technical personnel, changes in technology, and competition. For purposes of disclosure, the Company has received assistance in the drafting of this news release by the Company's shareholder relations agent, who receives three-thousand dollars on a month-to-month basis for providing such shareholder relations services.