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Exhibit 99.1
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Company Press Release
TUESDAY, JANUARY 9, 2001 4:44:00 PM EST
TORONTO, Jan 9, 2001 (BUSINESS WIRE) -- Officeland Inc. (OTCBB;OFLD.BB)
announced today that it has decided to voluntarily surrender all of the tangible
assets of its wholly-owned subsidiaries: The Wholesale Group located in Anaheim,
California and Telecom Corporation located in Wauconda, Illinois to its secured
lender. This voluntary surrender is being made in accordance with the provisions
of the Uniform Commercial Code as applicable in the States of California and
Illinois.
Officeland Inc. continues to review its financial circumstances and to evaluate
its options and options for Eastern Equipment Brokers, Inc., a wholly-owned
subsidiary of Officeland Inc. located in Connecticut.
CONTACT: Officeland Inc., Toronto
Ajit Hutheesing, 416/736-4000
Chairman of the Board
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