The Murdock Group Announces Phase Four Complete

March 01, 2001 12:13:00 PM ET

SALT LAKE CITY--(BUSINESS  WIRE)--March 1, 2001--The Murdock Group Holding Corp.
TMGS,  Thursday announced that its $6 million phase four debt reduction has been
completed.

Recently  completed  transactions  have  resulted in the  reduction of corporate
liabilities totaling  approximately $6 million. This phase four of the company's
debt-restructuring  plan  included  settlements  of $370,000 in common stock and
$5.6 million in real estate and other consideration.

In  addition  to  reducing   liability  by  approximately   $6  million,   these
transactions  are expected to result in significant  annualized cost savings for
the company.

In addition,  as part of this phase of its restructuring  plan, the company made
other  operational cuts and reports increased sales in January 2001. The company
reports that sales for January exceeded $100,000,  leading the company's push to
profitability  and  positive  cash flows,  which it expects to realize by second
quarter of 2001.

K.C. Holmes,  president and chief executive officer, noted, "With the completion
of phases one through four of our debt and operational restructure plan, we have
now reduced our debt by approximately  $23 million since Sept. 30, 2000. We have
also succeeded in increasing  sales during that period back to a monthly average
in the six-figure range.

"With under $8 million in debt  remaining,  we are confident that we can achieve
positive cash flows in the very near future. We hope that the public market will
soon begin to recognize the significant turnaround that we have accomplished."

The company  expects to be in a position  to  announce  details of the fifth and
final phase of the restructure and a successful turnaround shortly.

About The Murdock Group

Founded in 1983,  The  Murdock  Group has emerged as a business  incubator  with
emphasis in the employment  industry.  The Murdock Group has incubated  Internet
offerings  MyJobSearch.com,  an employment portal, and  CareerWebSource,  a BtoB
employment  information  company,  as well as a full  service  brick and  mortar
career-coaching provider.

The  Murdock  Group also has a real estate  development  group  specializing  in
small- to mid-size entitlement projects.

Forward-Looking Statements

This press release  contains  forward-looking  statements  within the meaning of
Section 27A of the  Securities  Act of 1933 and  Section  21E of the  Securities
Exchange Act of 1934.  While these  statements  are made to convey the company's
progress,  business  opportunities and growth  prospects,  readers are cautioned
that such forward-looking statements represent management's opinion.

Actual company results may differ materially from those described. The company's
operations and business  prospects are always subject to risk and uncertainties.
A more  extensive  listing of risks and  factors  that may  affect the  business
prospects  of the company and cause  actual  results to differ  materially  from
those  described in the  forward-looking  statements can be found in the reports
and other  documents  filed by the  company  with the  Securities  and  Exchange
Commission.