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Non-Tech : LVEN:NASDAQ--Las Vegas Entertainment Inc.
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To: surelock who wrote (18)10/8/1999 10:58:00 PM
From: John J. O`Reilly   of 228
 
LOS ANGELES--(BUSINESS WIRE)--Oct. 8, 1999--Las Vegas Entertainment Network Inc. (Nasdaq:LVEN - news) confirms that U.S. Guarantee Corp., a Nevada corporation doing business in Arizona servicing a portion of the company's financing, has not been dissolved.

LVEN officials spoke to the Arizona authorities, and according to David Adams at the Arizona Securities Division, U.S. Guarantee Corp., as of Oct. 8, 1999, is a corporation in good standing, and Mr. Pinckard's U.S.G.C.'s C.P.A. report as of March 15, 1999, reports approximately $1.8 billion in shareholder equity.

A nonprofit corporation of the same name was previously dissolved, and some parties mistakenly characterized the existing U.S. Guarantee Corp. as being dissolved, which is completely untrue.
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