====Press Release 2/7/2001=====
Wednesday February 7, 10:51 am Eastern Time
SOURCE: The Cyber Group Network Corp.
The Cyber Group Network Corp. Announces Resignation Of Board of Director and 10 - 1 Reverse Split
SAN BERNARDINO, Calif., Feb. 7 /PRNewswire/ -- The Cyber Group Network Corp. (OTC Bulletin Board: CGPN - news) Wednesday announced the acceptance of Anthony K. Miller's resignation as a Board of Director of The Cyber Group Network Corp. CGPN has also decided to conduct a 10 for 1 reverse split, subject to shareholder approval.
On January 29, 2001, the Board of Directors asked for and received Anthony K. Miller's resignation as a member of the Board of Directors of The Cyber Group Network Corp. The resignation is effective as of yesterday, February 6, 2001.
Previously, the Company had considered several scenarios when contemplating a reverse split of the Common Shares of stock. At the time of the filing, some Board members considered a 25 for 1 reverse split as the best option. However, after further discussions and meetings with Company officers, board of directors and financial and legal advisors, the Board has unanimously approved the recommendation to pursue a 10 for 1 reverse split instead, subject to shareholder approval.
The Company strongly encourages shareholders to attend, and express their opinions regarding the possibility of doing a 10 - 1 reverse split. The date of the original meeting has been changed to accommodate travel arrangements.
The shareholders meeting date is rescheduled for Monday, March 12, 2001 at 10:00 a.m. P.S.T. at 720 E. Carnegie Dr. Suite 200, San Bernardino, CA 92408.
A Definitive Information Statement will be filed at a later date listing the topics for discussion at the March 12th meeting.
Progress and updates of the proposed reverse split can be viewed at the company bulletin board at www.thecybergroup.net.
An amendment to the 14C Information Statement will be filed on February 7, 2001 and can be viewed at www.freeedgar.com.
Safe Harbor Statement
These news releases may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies and other factors described in the company's filings with the Securities and Exchange Commission. The actual results may differ materially from any forward-looking statements due to such risk and uncertainties. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise.
About the Company:
The Cyber Group Network Corp. is a technology company with the three main goals of Computer Security Technology, Patented Public Internet Access Devices, and Acquisitions of Internet, Communications and Financial Service Sector Industries to expand its resources. For more information about the company, visit our Web site at www.thecybergroup.net.
For further information, please contact The Cyber Group Network Corp., San Bernardino, CA, Investor/Public Relations, Toll Free: (866) 660-CGPN, Phone: (909) 370-4752, Fax: (909) 370-4754, Email: kbaldwin@cybergroupnetwork.com.
SOURCE: The Cyber Group Network Corp.
