Exhibit 99.1
JAG Media Holdings, Inc.
6865 SW 18th Street
Suite B13
Boca Raton, Florida 33433
(561) 393-0605
May 30, 2003
OIL@WORK Group, Inc.
11259 Goodnight Lane
Suite 1121
Dallas, Texas 75229
Attn: Daniel E. Galloway
Chief Executive Officer
Re: Letter of Intent dated February 14, 2003, as amended
Gentlemen:
Reference is hereby made to that certain Letter of Intent, dated February 14,
2003, among JAG Media Holdings, Inc. ("JAG Media"), OIL@WORK Group, Inc.
("OIL@WORK"), Daniel Galloway and Greg Goree, as first amended on April 15, 2003
and as further amended on April 30, 2003, regarding the proposed acquisition of
OIL@WORK by JAG Media. (the "Letter of Intent").
This letter evidences our mutual agreement that the reference to the Termination
Date of May 30, 2003 as defined in Section 10 and used in Sections 2.1, 10 and
11 of the Letter of Intent is hereby amended to refer to June 16, 2003.
Except as expressly modified hereby, the Letter of Intent shall remain in full
force and effect and is hereby ratified and confirmed.
[Signature Page Follows]
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JAG MEDIA HOLDINGS, INC.
By: /s/ Gary Valinoti
-------------------------
Name: Gary Valinoti
Title: President & CEO
ACCEPTED AND AGREED
as of the date first set forth above:
OIL@WORK GROUP, INC.
By: /s/ Daniel E. Galloway
--------------------------
Name: Daniel E. Galloway
Title: Chairman & CEO
/s/ Daniel E. Galloway
- ------------------------------
Name: Daniel E. Galloway
/s/ Greg Goree
- ------------------------------
Name: Greg Goree
[Signature Page to Amendment to Letter of Intent]
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