NiteLife Entertainment Continues Aggressive Expansion; Whidbey Island Naval Air Station Signs Tenth Consecutive Contract Renewal
HOUSTON--(BUSINESS WIRE)--Nov. 4, 1999--Entertainment Technologies & Programs Inc. (OTCBB:ETPI) a fully reporting, diversified entertainment-based company today announced that its profitable NiteLife division has signed its tenth straight contract renewal with Whidbey Island Naval Air Station in Oak Harbor, Wash. This tenth-year contract renewal illustrates the viability of NiteLife's long-standing relationships with its military base clients worldwide. These long-term relationships are an important foundation for NiteLife's aggressive expansion program over the next two years.
This contract comes on the heels of new contract acquisitions with Fort Campbell in Kentucky and Edwards Air Force Base in California, as NiteLife continues to expand. This year's growth is one of the most aggressive in the company's history, with 14 additional facilities installations targeted for the 2000 fiscal year. The expansion coincides with ETPI's debt consolidation and restructuring through Capital Growth Planning. This recently announced funding package enables NiteLife to capitalize and install an aggressive number of entertainment facilities at military bases worldwide, which will generate a consistent flow of revenues years into the future.
"Our relationship with Whidbey Island has been long and rewarding," commented NiteLife President, Mick Ryan. "Whidbey Island was our first base installation in the Northwest corridor of the U.S. Our success there has led to an additional installation at Bangor Submarine Base in Washington and to current negotiations for other bases in the region. This year we are in the midst of one of the most promising expansion programs in NiteLife's history. As we undertake new projects it is encouraging and reassuring to receive recognition from our long-term clients like Whidbey Island."
"At many of the U.S. bases around the world, NiteLife has become, for service men and women, part of the military experience," continued Mr. Ryan. "One of the highlights of our operations at Whidbey Island was a concert arranged at the request of the Commanding Officer of the base. We featured Lee Greenwood in 1991 as the troops returned from the Gulf War. The outdoor concert was highlighted by a flyby at the arena as Lee Greenwood sang his popular song 'God Bless the USA.' It was an outstanding welcome home celebration."
About NiteLife Entertainment
Under its exclusive AFNAF contract, NiteLife Entertainment provides a wide variety of entertainment programs and services to military base clubs by installing audio and video equipment including custom-built disc jockey booths, top-of-the-line mixing consoles and several television monitors for music videos and DVD. NiteLife installs and maintains company-owned equipment. Each military base agrees to a minimum number of utilization hours per contract. NiteLife has also been named "Prime Vendor" for the U.S. Army's Sports USA concept, which amounts to an endorsement by U.S. Army Headquarters. When the Army installs a new Sports USA club on one of its bases, NiteLife is contracted to provide its services. The Sports USA partnership opens an entirely new avenue for expansion for NiteLife without overlapping with existing installations.
Forward-looking statements in this press release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued popularity of entertainment facilities, increased levels of entertainment competition, completion of a planned funding package and other risks.
CONTACT:
Entertainment Technologies & Programs Inc., Houston
Fritz Boudreaux, 281/486-6061 |
