SITI-Sites.com Files Form 8-K on Material Lawsuit Against Former Employees

SITI-Sites.com Files Form 8-K on Material Lawsuit Against Former Employees 


NEW YORK, Nov. 21  /PRNewswire-FirstCall/ -- SITI-Sites.com, Inc. (symbol:
SITN.PK), filed a Report of a Significant Event on Form 8-K with the SEC on
November 17, 2003, readily available on the EDGAR system. The Report states:

"ITEM 1.  LEGAL PROCEEDINGS"

SITI-Sites.com, Inc. (the "Company") filed a civil suit in the United States
District Court for the Southern District of New York on November 12, 2003.  The
Company's Complaint alleges that its patent attorneys and departing patent
licensing executives, in late 1998 and thereafter, purchased its valuable
patents on cell-phone technology for $24,000 by concealing their nature and
value.  The defendants have realized $10 million in gross proceeds therefrom, to
date.

The Company's claims arise from a period when it was previously named Spectrum
Information Technologies, Inc.  The claims all stem from the alleged breach of
fiduciary duties by the defendants.  The claims have been under investigation by
the Company under counsel's supervision, for the past few months.  The Company
is seeking damages in excess of $10 million, and a court-ordered trust on future
proceeds from its former patents.

This is complex litigation, expected to be contested vigorously by several
defense firms and to continue for several years.  No assurance can be given as
to the ultimate outcome thereof.  Martin M. Green, Esq. and his firm of Green,
Schaaf & Jacobson, P.C. based in Clayton, Missouri, have been retained as the
Company's Special Counsel, for the litigation and ultimate trial of this matter.
The Company has retained Gary Cooper, Esq. and Cooper & McCann, LLP. as its New
York Counsel. 

DATASOURCE: SITI-Sites.com, Inc.



CONTACT: Toni-Ann Tantillo of SITI-Sites.com, Inc., [phone]



Web site:  http://www.siti-sites.com/ 

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