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Genesis Capital Tanks Another 44%; Close to Rock Bottom



Houston, TX -- (OTCBB NEWS NETWORK) -- January 23, 2002,

Genesis Capital Corp (GNCP: .0005) extends its decline on increased volume. The stock has been trading on unusually high volume since January 9 and has been in precipitous decline, falling from over three cents to well below a penny.

OTCBB News Network informed readers of the continuing deterioration on January 22, in our story Genesis Capital Corporation Of Nevada Inc. Stock Off 64%. Selling then could have saved an investor a huge amount of money compared to if they had held and had to sell now.

On January 22 the company announced that it received approval from the State of Connecticut, DEP for its water system, on the company property at Hebron, Connecticut. Despite what some perceived as good news the stock continued to decline.

The company has nearly 160 million shares outstanding with 500 million authorized. GNCP's history reveals a long trail of multiple reverse splits and severe dilution.

At 12:44 EST, GNCP is off another .0004 (44%). 11,580,000 shares have exchanged hands.

Genesis Capital Corporation, for the past three years, has had no active business operations. The Company is currently in the process of attempting to identify and acquire a favorable business opportunity, one with long-term growth potential.

For the fiscal year ended 9/30/01, the Company reported no revenues. Net loss totaled $129 thousand, up from $27 thousand. Higher loss reflects higher legal and professional fees and net occupancy expenses.



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