Millionaire.com Update

Millionaire.com Update

Millionaire.com files 10SB; Millionaire Magazine Inks
National TV Sponsorship Package

Internet Functionality Expands

HILTON HEAD, S.C., July 25 /PRNewswire/ -- On Friday, July 21, 2000
Millionaire.com (OTC Bulletin Board: MLRE) announced that its auditors, Grant
- Thornton in combination with the law firm Piper, Marbury Rudnick and Wolfe,
LLP completed the filing of its revised 10SB/A with the Securities and
Exchange Commission. This filing includes responses to the comments made by
the SEC. Millionaire.com will wait to see if further questions or comments
are required. Those questions or comments would normally be received, if at
all, within five days. The company will return to OTC: BB trading once all
responses are answered.
Millionaire Magazine has announced its sponsorship of a series of
nationally televised special programs. These programs will be seen in over 80
of the top 100 metro markets in America and nearly 170 out of the top 211 TV
markets nationally. The agreement will provide Millionaire Magazine with
exposure to 60 million TV Households across America over the next year.
"This sponsorship series will provide us with unprecedented visibility for
Millionaire Magazine and for our aggressive expansion efforts," remarked
Millionaire.com CEO and Millionaire Magazine publisher Robert L. White.
"You'll be seeing a lot of new and well- placed promotions for 'Millionaire
Magazine' in major media throughout the country. This is due to our
aggressive new marketing and advertising strategies now being implemented.
We'll be giving people a lot of reasons to subscribe to Millionaire,"
continued White.
The sponsorship agreement will feature Millionaire Magazine as a major
sponsor of 6 syndicated television specials. Entitled "THE AMERICAN LIVING
SERIES" specials, these shows are produced and distributed nationally by
Tricom Pictures of Florida. They spotlight a number of diverse interests.
"These specials will garner attention from a cross-section of interests. They
are great examples of outstanding programming," continued Mr. White.

The specials are entitled:

"STRATEGIC BUSINESS REPORT/GLOBAL PERSPECTIVES"
"AMERICAN HOME"
"AUTO TRENDS"
"THE TRAVELER'S GUIDE"
"WEB 100"
"MEN'S VIEWPOINT"

"Better yet, these programs will be seen in virtually every major TV
market in America. These specials will be shown on network affiliates and
independent stations from coast-to-coast. The impact will be sensational for
us. Just as important, these specials will be seen during advantageous times
during the broadcast day, not buried at 3AM somewhere. To bring our message
to over 60 million households nationally, well that is certainly exciting for
those of us here at Millionaire. This provides us infinitely better
exposure," explained White. "We'll be continuing our television subscription
advertising campaign as we sponsor these specials. We will continue to invite
the general public and those of discriminating tastes to experience this
terrific magazine, along with our Website," concluded Mr. White.
The series of programs will begin airing nationally in August of this year
and will run through the first quarter of 2001.
Millionaire.com's Internet Division has taken dramatic steps to provide
our customers with a new and unique domain. Now, when someone visits
http://www.millionaire.com they see a brand new, easy to navigate, cleverly
designed
Web Site with extraordinary content.
Recently Millionaire.com announced the forthcoming launch of a fully
functional Internet portal featuring nationwide availability of
Millionaire.com branded Internet access. The portal project is expected to
reach completion in approximately 20 days, at which point users will be able
to purchase a competitively priced, Premium Internet Access account directly
from the web site http://www.millionaire.com .
Included with Internet Access accounts will also be personal
Millionaire.com e-mail addresses. Each account holder will be able to receive
up to 5 free e-mail addresses with their signup to the Millionaire ISP
service. Other additions include a free web site up to 25 megs and many other
useful utilities such as a daily planner, local weather forecasts, stock
quotes and information, news and more will be available by August 15th.
Millionaire.com has launched its full e-commerce media site featuring more
than one million book, music, video and DVD titles. Millionaire.com has
partnered with Ubrandit.com (Amex: UBI) to provide the backbone support and
network infrastructure for our new initiatives, and we are excited to be
working with a company with their expertise in this area.

About Millionaire.com:

Millionaire.com, based in Hilton Head, S.C., is a leader in the luxury
marketplace servicing affluent buyers through its diverse offerings.
Millionaire.com is a multi-faceted company whose divisions include:

* Millionaire magazine
* Global auction located at Millionaire.com's headquarters in Hilton Head,
S.C.
* Online shopping venue featuring products from manufacturers and
retailers from around the world

At http://www.millionaire.com , consumers who share a passion for "the very
best
the world has to offer" can easily access upscale goods and services, bid on
high-end auction items, and reference content relevant to the millionaire
lifestyle. Millionaire.com is the industry's only clicks-and-mortar auction
network, consolidating physical auction houses across the United States with a
growing online auction site.
Certain statements in this news release contain forward-looking
information within the meaning of the Private Securities Litigation Act of
1995. Such forward-looking statements involve certain risks, assumptions and
uncertainties, including the inability to generate and secure the necessary
product sale, or the lack of acceptance of the company's products by its
customers. In each case actual results may differ materially from such
forward-looking statements. The company does not undertake to publicly update
or revise its forward-looking statements even if experience or future changes
make it clear that any projected results (expressed or modified) will not be
realized.

CONTACT: Ken Costanzo, Investor Relations of Millionaire.com,
864-370-2701, or [email protected]

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