HCM,ALL
August 26, 7:03 am Eastern Time
Company Press Release
Interactive Entertainment Limited to Put Sky Play Games On Continental Airlines B-777 Fleet
MEMPHIS, Tenn.--(BUSINESS WIRE)--Aug. 26, 1998--Interactive Entertainment Limited (Nasdaq: IELSF - news) today announced Continental Airlines, Inc. as the newest customer for its Sky Play interactive, in-seat amusement games. Continental will install the games on its fleet of Boeing 777 aircraft which are to be equipped with the Matsushita 2000E interactive inflight entertainment system. Continental has 14 Boeing 777's on order with the first two aircraft scheduled for delivery in September. Additional aircraft are expected to be delivered at the rate of approximately one per month. The agreement is for an initial term of one year with provision for annual renewals.
Gordon Stevenson, President and CEO of Interactive Entertainment Limited, stated, ''We are very pleased to add Continental Airlines to the growing list of airline clients for our Sky Play amusement games. It is especially gratifying to have been selected by a company of the caliber of Continental which was recently named by Fortune magazine as the most improved company of the 1990's.''
Jeff Sare, International Marketing Manager of Continental, said, ''We chose IEL because of their expertise in the inflight entertainment industry as well as their ability to provide Continental with a complete library of games thus enhancing Continental's entertainment options.''
IEL is the global leader in inflight games, with development and marketing resources in the USA, UK and Singapore. Its Sky Play games are today flying in-service on more than 60 aircraft operated by American Airlines, Cathay Pacific, Egyptair, Lauda Air, Malaysia Airlines, Saudi Arabian Airlines and Virgin Atlantic. IEL provides unmatched expertise in game development, installation, daily operations, revenue enhancement, game and data integrity, as well as accounting and information processing systems for its airline customers. Sky Games(TM), IEL's inflight gaming system, is currently in operation on one Singapore Airlines Boeing 747-400 with additional installations expected to begin in September. IEL and Singapore Airlines plan to have Sky Games operational on a total of nine aircraft by the end of the year.
This press release contains forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those anticipated. These include the Company's dependence on airlines' implementation of interactive entertainment systems, the regulatory environment, overall conditions in the airline industry, and the Company's ability to raise the necessary capital to fund its operations. Please refer to the Company's documents, on file with the Securities and Exchange Commission, for a complete discussion of risks and trends.
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Contact:
Richmont Consulting International, Inc.
Edda Brown or Bret Hughes, 213/658-8088
Is this not a precursor of gambling to be added to all or at least most of the airlines that have come aboard for Sky Play when it becomes legal? American Air, Continental Air, and new major and minor players will be added on a continous basis. Look for Virgin Atlantic to be added before years end. It appears good things are happening with IEL. I know it is difficult and painful to hang in with such huge percentage paper losses that most of us have incurred, however, to sell at this level seems ludicrous. (I hope I'm right on that score) GOOD LUCK to all.
denduck |
