July 6, 1999 NEWS RELEASE
dot com Entertainment Group Inc.
Olympic Tower, 300 Pearl Street, Suite 200
Buffalo, New York 14202
dot com files form 10SB
BUFFALO, NY, July 6, 1999 - dot com Entertainment Group, Inc. ("dot com") (OTCBB: DCEG) is pleased to announce that it has filed a Form 10 (pursuant to Section 12(g) of the Securities Exchange Act of 1934) registration statement with the Securities and Exchange Commission to become a reporting company. The registration statement, which was filed on July 2, is intended to allow dot com to become fully reporting and maintain it's eligibility for quotation on the National Association Securities Dealer OTC Bulletin Board.
Over the past several weeks, dot com has successfully re-engineered, installed and implemented various enhancements to its CyberBingo™ software system and the related systems which support the company's on-line entertainment software products. Given that our software systems and client operations have realized significant growth over the past few weeks, dot com is now turning its attention to the successful implementation of other corporate goals, which partially includes launching our unique "sub-license" agreement program. This initiative will assist in the development of CyberBingo™ as an internationally recognized brand name and as the leading on-line internet bingo software system.
Over the next few months, dot com will become increasingly aggressive, on an international scale, in the development of client customer and player loyalty systems and the sale of sub-license arrangements in addition to a variety of other web-based strategic alliances.
The dot com website can be visited at www.dceg.com. This site has links to the CyberBingo™ game system (www.cyberbingo.net), which operates 24 hours per day, 120 games each day, and is played by players from countries throughout the world. dot com plans to expand its Internet and commercial software product base in 1999 to become a leading provider of Internet entertainment software products and services.
FOR FURTHER INFORMATION PLEASE CONTACT:
Scott White, President or Andre Kern, Controller & Investor Relations
at dot com Entertainment Group, Inc. - ph: (416) 366-1444, E-Mail: Akern@dceg.com
Investors Contact: Juan Dominguez & Dian Griesel, Ph.D.
Media Contact: Richard Land
at The Investor Relations Group: (212) 664-8489
.com is a development-stage company. Certain of the information contained in this news release constitutes "forward-looking statements", including but not limited to those with respect to the future revenues, the Company's development strategy, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the continued acceptance of the Internet, number of visits to the Company and it's affiliates web sites, as well as those factors disclosed in the Company's documents filed from time to time with the United States Securities and Exchange Commission.
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