Wednesday May 10, 11:57 am Eastern Time
Company Press Release
eTravelserve.com Announces Retirement of 40 million shares
BOCA RATON, Fla.--(BUSINESS WIRE)--May 10, 2000--eTravelserve.com, Inc.
www.etravelserve.com (OTCBB:TSER - news), announced today that agreements have
been reached with Paul Johnson, CEO/President of eTravelserve.com and Allied
Capital Corp. to transfer 40 million shares of their eTravelserve.com holdings
to the company for retirement to the treasury.

The transfer and retirement will become effective June 1st, 2000.

"We believe that the retirement of almost 40% of the outstanding shares will be
beneficial to all shareholders and will help to position the company to climb
the last step towards bringing etravelserve.com to the NASDAQ small cap or NMS
markets. We have been happy with the company's development and feel that this
decision will benefit everybody over the long term," said Desai Robinson,
President of Allied Capital Corp.

An agreement was also reached today between Allied Capital Corp. and Paul
Johnson CEO/President of eTravelserve.com. In the agreement Paul Johnson has
personally purchased 10,606,931 shares of eTravelserve.com stock from Allied
Capital Corp. for $4,242,772.40.

eTravelserve.com has also reached an agreement with Allied Capital Corp.
concerning a lock-up provision for the approximately 6,000,000 million shares
that Allied Capital Corp. will retain after the cancellation of shares to the
treasury and the purchase of shares by Paul Johnson. The lock provision dictates
that Allied Capital can only sell a maximum of 5,000 shares per day over the
next 5 years.

"The decision to buy more than 10,000,000 shares from Allied Capital Corp. was
an easy decision to make considering the company is just beginning to execute
the business plan. I felt that purchasing Allied's restricted shares at a
discount to where the stock trades today was an opportunity that could not be
passed up. Allied Capital Corp. had a holding of approximately 41,600,000 shares
of eTravelserve.com stock. Allied has agreed to transfer 25 million shares to
the company for retirement and sell approximately 10,600,000 shares to myself.
The remaining 6,000,000 shares that Allied Capital Corp. holds has been placed
into a very well spread out lock up agreement. An additional 15,000,000 shares
will be transferred to the company from me for retirement to the treasury. The
retirement of this large percentage of the outstanding float will benefit the
shareholders and should produce more investor interest in the company," said
Paul Johnson President/CEO of eTravelserve.com.

FOR SHAREHOLDER INFORMATION CALL STOCKBROKER RELATIONS AT
1-800-546-7950

Information in this press release contains "forward-looking statements." These
statements involve risks and uncertainties that could cause actual results to
differ materially. There is no assurance the above-described events will be
completed. There can be no assurance of the ability of the company to achieve
sales goals, obtain contracts or financing, consummate acquisitions or achieve
profitability in the future. The above and additional factors are discussed in
detail in the Company's filings with the S.E.C.