Auteo Media, Inc.

March 23, 2005 09:00 ET

Auteo Media, Inc. Announces Share Exchange Closing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AUTEO MEDIA, INC.

OTC Bulletin Board SYMBOL: AUOM

MARCH 23, 2005 - 09:00 ET

Auteo Media, Inc. Announces Share Exchange Closing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2005) - Auteo
Media, Inc. (OTCBB:AUOM) ("the Company") wishes to announce that
pursuant to the recent filing of its Definitive 14C Information
Statement and the furnishing of the information contained therein to
shareholders of record of the Company on or about March 11, 2005, the
Company has received the opinion of legal counsel that the closing date
for its Share Exchange Agreement (the "Agreement") with WorldStar Energy
Corp. ("WorldStar") will be set for April 1, 2005. Immediately upon
closing, the Company's Amended Articles of Incorporation authorizing the
change of its name to WorldStar Energy, Corp. and the increase in its
authorized share capital will be filed with the appropriate regulatory
authorities.

As announced on January 28, 2005, the Company has entered into the
Agreement to acquire 100% of the outstanding shares of WorldStar in
exchange for the issuance 31 million treasury shares of the Company.
WorldStar's 80% owned subsidiary is PT MubaStar International
("MubaStar"), an Indonesian company, intends to develop the energy
(methanol) joint venture project in Indonesia. The Company's shares
being issued in this transaction (31 million shares) will be available
for exchange with existing WorldStar shareholders c/o The Secretary,
WorldStar Energy, Corp. 4108 Dominion Street, Burnaby, British Columbia,
Canada V5G 1C6 shortly after the closing date.

Pursuant to the terms of the Agreement and subject to regulatory
approval, if required, Mr. John Nainggolan and Mr. Drajat Hadiwijoyo
will join the Company's Board of Directors upon closing.

Forward-Looking Statements:

The Private Securities Litigation Reform Act of 1995 provides a safe
harbor for forward-looking statements made on behalf of the Company and
its subsidiaries. All such forward-looking statements are, by necessity,
only estimates of future results and actual results achieved by the
Company may differ materially from these statements due to a number of
factors. Any forward-looking statements speak only as of the date made.
Statements made in this document that are not purely historical are
forward-looking statements, including any statements as to the above
potential acquisition, beliefs, plans, expectations, or intentions
regarding the future. Risk factors that may cause results to differ from
projections include, without limitation, inability to complete the
acquisition, loss of suppliers, loss of customers, inadequate capital,
competition, loss of key executives, declining prices, and other
economic factors. The Company assumes no obligations to update these
forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting such statements. You
should independently investigate and fully understand all risks before
making investment decisions.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Auteo Media, Inc.
    Michael Kinley
    (604) 434-5256
    (604) 434-5488 (FAX)