DIEGO CORRALES RETURNS IN JR. WELTERWEIGHT DEBUT!

ATLANTIC CITY, NJ (January 6, 2003) – Former IBF jr. lightweight champion DIEGO CORRALES returns to the ring for the first time in two years, Saturday, January 25, at Bally's Atlantic City Hotel and Casino and promoted by Gary Shaw Productions, LLC, in association with Budweiser. Corrales, making his jr. welterweight debut, will be the featured bout on the undercard headlined by the Sharmba Mitchell - Carlos Vilches IBF jr. welterweight elimination bout for the vacant IBF No. 2 contender position. The Mitchell-Vilches bout will be televised nationally on Showtime Championship Boxing, beginning at 10 P.M. ET/ 10 P.M. PT.

Corrales, 33-1 (27 KOs), from Sacramento, CA, will be facing two-time world title challenger Freddy Cruz, 53-33-10 (17 KOs), from the Dominican Republic.

The six-foot Corrales made the most of his mandatory challenge against undefeated IBF jr. lightweight champion Robert Garcia, dethroning the champion via a seventh-round TKO in their slugfest, October 23, 1999. Corrales successfully defended his title three times during the next 12 months, with third round knockouts of Angel Manfredy and Derrick Gainer and a 12-round decision over John Brown. After vacating the title in anticipation of moving up in weight, Corrales returned to the 130 pound division to challenge WBC super featherweight champion Floyd Mayweather, January 20, 2001. The rigors of making a weight at which he was no longer comfortable left Corrales drained for the fight and he lost by TKO in the 10th round.

Ironically, Corrales has signed with manager James Prince, who also manages Mayweather. Corrales has been in Las Vegas training to regain his world-championship form. After four months of intensive conditioning, training and sparring under the supervision of Kenny Adams, Corrales now weighs a fit 138 pounds.

"We are exploring where Diego's best weight is," said co-trainer Antonio Leonard. "Frankly, he seems equally strong as a lightweight and a jr. welterweight."

"We will reevaluate after his fight on January 25, but if he looks as good in the ring as he does in the gym, the decision will probably be based on where he can get a title shot quickest," said promoter Gary Shaw. "It really does not matter to us if it is Tszyu, Spadafora or Dorin. Our new year's resolution is to get at least one world title belt around Diego's waist in 2003. It may be a lightweight belt or it may be a jr. welterweight belt. Frankly, I would not be surprised if he won one of each."

Cruz, who went the distance in two world title fights losing close decisions to Wilfredo Vazquez and Steve Robinson, returns to the ring fresh from a 10-round decision victory over Luis Sosa last month.

Tickets to this event are priced at $50 and are available at Bally's Atlantic City Show Reservation Desk, located in the hotel lobby or by calling TicketMaster at (800) 736-1420. Tickets are also available on line at www.ticketmaster.com. Doors open at 6 p.m. The first bout is scheduled for approximately 6:30 p.m. All bouts subject to change.