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Technology Stocks : American Interactive Media, Inc. ( AIME ) (OTC BB )

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To: Keiko who wrote (86)	11/19/1998 11:02:00 AM
From: Alf	of 211

hursday November 19, 10:01 am Eastern Time Company Press Release American Interactive Media Receives Investment From Pioneer Ventures Associates Related Quotes AIME 3 3/4 +5/16 delayed 20 mins - disclaimer NEW YORK--(BUSINESS WIRE)--Nov. 19, 1998--American Interactive Media, Inc. (OTC BB:AIME; aime-inc.com) announced today that it has completed a $3.15 million Private Placement of convertible preferred shares with Pioneer Ventures Associates Limited Partners (''PVALP''). Specific terms of the transaction were not disclosed. Mark Graff, AIME CEO and President, said, ''The Pioneer financing provides the capital necessary to enhance the distribution and production of our entertainment-based Internet networks. Additionally, it will heighten our activities in support of the acquisition of subscribers for our webPASSPORT Internet Service and Portal.'' A spokesperson for Pioneer Ventures said, ''We believe that AIME has positioned itself as a leader in the creation of original digital content and as a marketer of Internet access and services -- areas that we envision as two of the fastest growing segments of the Internet.'' AIME will soon launch its Affinity Internet Program which bundles customized information and services with Internet access to members of large organizations such as not for profit groups, unions and trade associations. AIME recently announced a joint venture with New Tech Entertainment, headed by Herman Rush (former CEO of Coca-Cola Telecommunications, Inc. and Columbia Pictures Industries, Inc.), to create a pod of nine digital networks designed to migrate from the Internet to broadband and digital cable. American Interactive Media is dedicated to the creation of a wide range of entertainment based programming and services incorporating video and audio information through a rich interactive environment designed specifically for the Internet, digital cable and other distribution channels. The webPASSPORT Access Network and Portal is AIME's proprietary, easy to use and inexpensive Internet access service customized and co-branded with affinity groups worldwide.

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