Exhibit 99.1
FOR IMMEDIATE RELEASE
UTOPIA MARKETING, INC. ANNOUNCES ASSIGNMENT FOR THE BENEFIT OF
CREDITORS
WEST PALM BEACH, FL - November 3, 2000 - Utopia Marketing, Inc.
(OTCBB: UTPM) announced today that it has filed in the Circuit Court
for Palm Beach County an assignment for the benefit of creditors
pursuant to Florida Statute Section 727. The Board of Directors of
Utopia has authorized management to retain Moecker & Associates as the
"Assignee" of all of Utopia's remaining assets.
Under the assignment, the "Assignee" is charged with the orderly
liquidation of Utopia's assets and the payment of Utopia's creditors
in accordance with the priority of their respective claims. Utopia
recently discontinued its operating business activities and now has
only two remaining employees for the purpose of winding down the
Company's operations.
Among the reasons for Utopia's decision to discontinue its business
operations were the company's inability to raise additional capital to
fund its continuing operations and the competitive market conditions
in the company's line of business.
