SOURCE: AmoroCorp

July 13, 2007 22:00 ET

AmoroCorp Management to Deregister

NASHVILLE, TN--(Marketwire - July 13, 2007) - AmoroCorp (PINKSHEETS: AORO) management announced today that the board has agreed with the SEC to deregister as a corporation required to file periodic reporting under the Securities Act of 1934. Because of its size and number of shareholders, AmoroCorp is not required to be registered as an SEC reporting company. While broker-dealers cannot post market maker price quotations, shareholders can continue to trade stock on an unsolicited basis. Stockholders should consult with the broker-dealer holding their shares.

Prior corporate management failed to maintain the Company's filings from 2000 forward, during the time the company was named Upside Development, Inc. Current Management has determined that restoring compliance may not be possible at any cost due to prior management's failures in financial recordkeeping, and that the cost to restore SEC compliance is prohibitive and far outweighs the benefit to the Company at this time.

CEO Ephren W. Taylor II stated, "In light of the above and other factors, the AmoroCorp board determined that the best course for our shareholders was to agree to deregistration to avoid the immense costs and burden of bringing six years of company activities into full compliance by the end of the year." Under the Sarbanes-Oxley Act of 2002, all reporting companies must be in compliance by the end of 2007.

"This will cut an immense amount of dead weight from AmoroCorp, and allow us to focus our finances and staff on the business of doing business, rather than wasting countless hours sorting through files from the years before current management was even involved in the company."

The company will continue to explore all options that bring shareholder value, including completion of current projects, acquisitions, or reorganization that would bring immediate value to its shareholders. At such time that the Company's assets and number of shareholders of record reach the SEC minimums for registration under the Act, the Company will be able to resume SEC reporting.

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, its ability to consummate, and the timing of, acquisitions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate. The Company makes no undertaking to update such forward-looking statements.

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