SHERMAN OAKS, Calif., Dec. 31, 2003 (PRIMEZONE) -- Avenue Group, Inc. (OTCBB:AVNU) (Frankfurt:ITQ) (the "Company") announced today that at the Company's 2003 Annual Meeting of Stockholders held on December 29, 2003, at the Company's principal offices in Sherman Oaks, California (the "Annual Meeting"), the shareholders approved the proposals put forth by the Company. At the Annual meeting, the shareholders re-elected the three incumbent Board nominees: Levi Mochkin, Jonathan Herzog and Jim Tan to serve as directors for a one-year term ending at the Company's next annual meeting of shareholders. The shareholders also ratified the Company's selection of the firm Weinberg & Company P.A. as the Company's independent accountants for the year ending December 31, 2003.
About Avenue Group, Inc.
Avenue Group, Inc. is a Delaware corporation formed in February 1999 with operations in Los Angeles, Calif., Melbourne, Australia and Ankara, Turkey. Avenue Group is listed on the NASDAQ OTC Bulletin Board under the symbol "AVNU".
The Company engages in oil and gas exploration and development through its wholly owned subsidiary Avenue Energy, Inc. Through a strategic alliance with the Sayer Group in Turkey, the Company recently commenced commercial oil production at the Karakilise-1 well in the Diyarbakir Petroleum District of southeast Turkey.
The Company is also engaged in e-commerce and digital media businesses through its equity interests in several other companies, including: VideoDome.com Networks, Inc., Stampville.com, Inc. and ROO Media Corporation.
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