Staruni Corporation Completes $2 Million Common Stock Equity Line

LOS ANGELES--(BUSINESS WIRE)--Oct. 17, 2000--Staruni Corp. (OTCBB:SRUN - news), an Internet Service Provider and Web Developer of e-commerce sites and solutions, today announced that the company has entered into a private equity line of credit agreement with a private institutional investor which will fund on a monthly basis and is intended to result in the company's receipt of an aggregate of up to $2 million.

Staruni Corporation provides Internet access and e-commerce solutions to both individual and business users. The Company recently expanded from a local Southern California service provider to a national ISP. Staruni also operates iBargain.com, an Internet storefront, selling electronics, watches and other items.

Bruce Stuart, CEO of Staruni Corporation, stated, ``We are pleased to complete this transaction and view this as a significant positive transition in the scope of our business. The financing allows us to implement strategic objectives including enhanced capabilities through acquisitions and joint ventures as well as a focused effort towards marketing and branding. The equity line is indicative of the strength of our stated objectives as well as the confidence level in the timely execution of our business plan from the perspective of the investment community.''

The equity line of credit available to the company was placed by Capstone Partners, L.C., an investment banking broker dealer and NASD member located in Atlanta, Georgia. Capstone Partners negotiated the terms of the equity line of credit on behalf of the company and will remain as a financial advisor for the company during the term of the financing agreements.

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expression of future goals and similar expressions reflecting something other than historical fact involve risks and uncertainties. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties.