MARKET SCAMS

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Press ReleaseSource: ITIS Holdings Inc.
ITIS Holdings Inc. Lauds SEC Amendment Strengthening Rule on Delivery of Stock
Tuesday March 18, 7:00 am ET
HOUSTON--(BUSINESS WIRE)--March 18, 2003--Hunter Carr, chairman & CEO of ITIS Holdings Inc. (OTCBB:ITHH - News), today announced the Company's support of the SEC Amendment to the Collateral Requirements in Rule 15c3-3, which requires broker-dealers to provide full collateral when borrowing fully paid and excess margin securities from customers (http://www.sec.gov/news/digest/dig031103.txt).
"This and other recent SEC actions are encouraging news for both companies and investors who have been victims of various market manipulation schemes, as has ITIS Holdings Inc.," said Carr.
Carr said he views recent announcements by the SEC as an indication the Agency is responding to complaints of questionable practices by expanding its probe of suspicious short-selling trading activities to include market makers and broker dealers participating in suspect transactions. One such announcement was the imposition of a $1 million fine against Rhino Advisors and its president, who were accused of manipulating short sales in stock of Sedona Corp. (http://www.sec.gov/news/press/2003-26.htm).
In a related matter, the Securities Industry Association (SIA) on Monday expressed its support for the Depository Trust Co.'s (DTC) recent decision that shareholders, not companies, should decide if shares are to be held in electronic form or in paper certificates. In January 2003, ITIS Holdings Inc. rescinded its request to exit the DTC, citing a desire not "to cause its loyal stockholders any hardship." Commenting on the situation, Mr. Carr said, "If the Canadian Depository System (CDS) would require deliverance, those with naked shorts would be forced to buy shares to cover. We are excited about the news and the changes taking place in the regulatory area."