EXHIBIT 99
PRESS RELEASE
<P>
Auxer Completes Acquisition of Telecom Switch Operations
Thursday, August 24, 2000 02:26 PM
<P>
WEST PATERSON, N.J.-- (BUSINESS WIRE)--Aug. 24, 2000 The
Auxer group, Inc. (OTCBB:AXGI) announced today that it has
completed the transfer of assets formerly associated with
Sponge Technologies, Inc. to Auxer telecom, Inc., a new
wholly owned subsidiary of The Auxer Group, Inc.. The
subsidiary's operation has been relocated from Santas Monica
California to a location on Wilshire Blvd., Los Angeles
California. Auxer Telecom has been established and
engineered to manage approximately $60 Million in initial
telecommunications traffic. The company has secured and
transferred key assets to include two (2) Excel based
Switching Platforms running Excel ADS and XNT switching
software with 128 T1 capacity, upgraded equipment,
proprietary telecommunications billing and customer service
systems and software, and carrier contracts. Additionally
Auxer Telecom has finalized arrangements with key management
and personnel in the areas of Customer Service, Operations,
Information Systems, and Marketing & Sales.
<P>
Auxer's new subsidiary initiated operations effective August
21st. The company's switches are expected to be fully
operational within ten (10) days. The systems are
expandable, ungradable and flexible in order to accommodate
additional telecommunications traffic as well as various
types of traffic. The company expects to begin announcing
additional telecommunications traffic contracts and/or
acquisitions that are currently in negotiations over the
next several weeks. " Mr. Shaver and I spent last week out
in Los Angeles negotiating agreements, finalizing contracts,
visiting the operation site, as well as completing
arrangements with key personnel. We had an excellent "kick
off" experience with the new management team and we feel
very privileged to have been able to assemble such a quality
group of telecommunications engineers, customer service,
operations, and sales & marketing personnel. They are
experienced in the telecommunication's industry and I
believe they can make an immediate impact in this growing
marketplace. I feel this team and this organization has the
ability to be one of the premier telecommunications groups
active today. Auxer has provided them with a good financial
base and the equipment necessary to handle the planned
traffic," said Eugene Chiaramonte, Chairman of The Auxer
Group.
<P>
ABOUT THE COMPANY
<P>
The Company is a holding company that has formed a
Telecommunications Group and opened a subsidiary, Auxer
Telecom, Inc, which provides telecommunication switch
services from the telecommunications carrier to the
telecommunications industry. Additionally, Auxer owns an
Automotive Group with three (3) active subsidiaries: The
Harvey Westbury Corporation, Inc., Hardyston Distributors,
Inc. and CT Industries, Inc. Harvey Westbury assembles and
packages automotive accessories under the name, Easy
Test(R), sells engine treatment under the name, Formula 2000
Ultimate(TM) and sells waxes and polishes under the name,
Garry's Royal Satin(TM) to the automotive, marine and
aviation industries. Hardyston Distributors, Inc. is a
specialty distributor of automotive parts and accessories to
local mechanics, service stations and dealers. CT
Industries, Inc. has been designated to house any future
internet related business and currently handles the
internet-related sales from the company's websites as well
as other retail programs.
<P>
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.
<P>
For more information pleas visit our website at
www.auxer.com
<P>
CONTACT: The Auxer Group, Inc.
Investor Relations: 800-201-3972
<P>
