EXHIBIT 99.1


Small Town Radio, Worldwide PetroMoly Close Merger

June 4, 2001 - Alpharetta, Georgia - Small Town Radio, Inc. (STRI) announced
today that it has completed its previously announced merger with Worldwide
Petromoly, Inc. (OTCBB:MOLY). The merger results in a change in direction for
MOLY, from its history as a provider of oil additive products to consumers and
industry, to an acquirer and operator of radio stations initially across the
Southeastern US. A shareholders meeting will be called shortly to approve a
change in the name to "Small Town Radio, Inc.". The Company also intends to
request that its stock symbol be changed to "STRI" simultaneous with the name
change.

"This is an exciting new business area for the Company, one which has tremendous
growth potential," said Mr. Gil Gertner, the former Chairman of MOLY, who will
be stepping down effective immediately. "We believe the strategy of STRI to
acquire a series of radio stations in smaller, non-rated markets, makes sense
and is timely, especially given the consolidation in the industry. The potential
for cost savings as a result of the consolidation of facilities and staff,
coupled with the ability of a territory oriented sales force to increase
revenues, we believe, make this an attractive situation for all of our
shareholders," said Mr. Lance Rosmarin, who was the President of MOLY and will
be a member of the new Board of Directors.

"This is the first step in what we all believe can be a very exciting
enterprise," said Mr. Robert Vail, Chief Financial Officer of Small Town Radio.
He continued, "We will have many announcements over the next few days and weeks
as we move from planning to the execution of our business strategy." The Company
expects to announce its new management, additions to its Board of Directors
during the coming days, as well as its partners and acquisition agreements. The
Small Town Radio Inc. (STRI) business strategy is to secure through acquisition
a significant number of radio stations in target markets, generally smaller,
less populated areas near, but not in, mid-sized and larger markets. STRI
intends initially to acquire radio stations in rural sections of South Georgia,
and then expand into additional, geographically contiguous markets in the
Southeast such as Alabama and South Carolina. STRI believes that a network of
stations in contiguous broadcast areas with two or three common programming
formats will provide an advertising and listener base of significant size. It
expects to operate its studio facilities from Atlanta utilizing digital
transmission technology to provide high-quality programming, including local
content, to its stations across the Southeast.

For the purpose of business inquiries, all callers regarding MOLY corporate
activities should contact Robert Vail at Small Town Radio Inc. and Worldwide
PetroMoly Inc., including activities of the public corporation, at (678)
762-3295. Anyone seeking information regarding the distribution and ordering of
PetroMoly lubrication products should contact Lance Rosmarin at (888) 599-6659.

 This news release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act
of 1934. Words such as "intends," "expects," "anticipates," "estimates" and
similar expressions are intended to identify forward-looking statements. Such
statements are subject to risks and uncertainties that could cause actual
results to differ materially from those projected. Although the company believes
that the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove correct.
There are a number of important factors that could cause actual results to
differ materially from those expressed in any forward-looking statement made by
us. These factors include the inability of STRI to obtain financing for the
acquisition of radio stations; the reliability and availability of new
technology in the radio station industry; financial, operational and other
business problems associated with the acquisition of a number of radio stations
in a short period of time; general and industry-specific economic conditions.
The Company has no obligation to update or revise these forward-looking
statements to reflect the occurrence of future events or circumstances.

Contact: Robin Vail, CFO at (678) 762-3295.