JNNE here is a new release on JNNE
LOS ANGELES--(BUSINESS WIRE)--May 21, 1998--Jones Naughton
Entertainment, Inc. today issued a
statement regarding significant business developments.
The Company also addressed the recent sharp increase in shareholder
interest and trading volume.
According to Company Chairman Joseph Naughton, increased interest in
Jones Naughton Entertainment is a
reflection of the Company's diligent efforts to maximize current
opportunities. "As an information technology
Company, we recognize that investors are keenly aware of this industry
and we have recently experienced a
much higher volume of investor inquiries. Our overriding goal has been
to plan carefully, negotiate thoughtfully,
and execute thoroughly each Company program and acquisition. We believe
the success of this strategy is, to
a great degree, responsible for the dramatic rise in interest from the
investment community.
"We are currently involved in negotiations to acquire a profitable
publishing, advertising and direct marketing
company which will further build upon our foundation for growth. This
acquisition would be of great financial
benefit to our Company and accretive to shareholder value. We will
announce details of this acquisition as
soon as possible, hopefully in the next few weeks."
Updating other Company developments, Naughton also commented,
"Additionally, Jones Naughton receives
royalty income from a program developed for marketing financial services
through mass market retailers. This
concept is currently being used by a major mass market retailer and the
program is expected to be expanded
substantially over the next few months. As always, we will continue to
define more and better ways to
generate increased revenues and greater profits for our shareholders."
Jones Naughton Entertainment (OTC Bulletin Board:JNNE - news), through
its COMMUNITY MARQUEE
division, operates audio visual information systems custom-designed to
provide free, instant and site-specific
information to commercial businesses for advertising and marketing goods
and services in a wide variety of
community forums. Current subscribers to the system include the U.S.
Army Recruitment Offices, Enterprise
Rental Car, Great Western Savings, National University, Manpower Inc.
(NYSE:MAN - news), Temporary
Employment Agency, Round Table Pizza and a host of independent
businesses. Planned growth is through
acquisition of small specialized marketing companies in targeted markets
nationwide. Jones Naughton also
receives royalty income from a program developed for marketing financial
services through mass market
retailers.
This press release contains forward-looking statements which are made
pursuant to the safe-harbor provisions
of the Private Securities Litigation Reform Act of 1995. Expression of
future goals and similar expressions
reflecting something other than historical fact involve a number of
risks and uncertainties, including timely
development and market acceptance of certain products and services,
successful integration of acquisitions,
the ability to secure additional financing and the ability to operate
within the framework of available resources.
The actual results the Company achieves may differ materially from any
forward-looking statements due to
such risks and uncertainties.
ÿÿ
ÿÿ CONTACT: Jones Naughton Entertainment
ÿÿÿÿÿÿÿÿÿÿÿ Patrick M. Rost, 888/847-5663
ÿÿÿÿÿÿÿÿÿÿÿ or
ÿÿÿÿÿÿÿÿÿÿÿ Jones Naughton Entertainment
ÿÿÿÿÿÿÿÿÿÿÿ Joseph Naughton, 714/736-0988
ÿÿÿÿÿÿÿÿÿÿÿ or
ÿÿÿÿÿÿÿÿÿÿÿ AUTOMATED SHAREHOLDER COMMUNICATION SYSTEM 888/209-7223
ÿÿÿÿÿÿÿÿÿÿÿ or
ÿÿÿÿÿÿÿÿÿÿÿ Investor Relations Website: www.jnne.com
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