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Phoenix Media Removed From OTC Bulletin Board

March 28, 2000

Phoenix Media Group Ltd. has been delisted from the OTC Bulletin Board. The company's stock will be traded on the pink sheets pending the resolution of issues with the bulletin board.

The company said it has completed all filing requirements and has fully responded to the first series of comments from the Securities and Exchange Commission, and intends to address all additional comments with extreme diligence in an effort to be quickly reinstated on the bulletin board.

Phoenix Media Group is an international media and publishing firm.

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