Thursday November 19, 3:54 pm Eastern Time
Company Press Release
Skyline Multimedia Entertainment, Inc. Has 'No Comment' Regarding Stock
Run-Up
NEW YORK--(BUSINESS WIRE)--Nov. 19, 1998--In response to a recent surge in the Company's stock price and daily trading volume, Skyline Multimedia
Entertainment, Inc. (NASDAQ:SKYL - news) Co-Chief Executive Officer Jay Berkman stated ''other than our aggressively executing marketing strategies that have
been announced during the past two months, we are unable to comment as to activity in the Company's shares.''
Added Berkman, ''As previously reported, the Company has a new management team and has recently introduced a marketing strategy that is focused on leveraging its
unique physical presence in both The Empire State Building and Times Square. Further, because our entertainment venues cater to both tour/travel industry and local
visitors, our new strategy incorporates a significant Internet presence.''
In August, Skyline Multimedia announced a co-marketing agreement with Infospace.com, a leading Internet portal. Terms of the Skyline-Infospace deal provide for
Skyline's Web site, www.skyride.com becoming the default location for those searching the Infospace.com's New York City Guide application. The Skyride web site
offers a listing of Manhattan entertainment locations and supports electronic ticketing for a wide range of events and attractions.
In October, Skyline announced that it had entered into a co-marketing agreement with New York Circle Lines, Inc. as part of an overall campaign to create a
consortium of leading New York attractions, and in turn develop both a destination-based tour-travel center within The Empire State Building and also, to capitalize on
Skyline's presence on the World Wide Web.
Headquartered in New York, Skyline Multimedia Entertainment, Inc. is a holding company engaged in the global development and operation of next generation
entertainment facilities. New York Skyline, Inc. a wholly-owned subsidiary, owns and operates the ''New York Skyride'', a multi-million dollar flight simulator attraction
located in The Empire State Building, New York City's number one tourist attraction, which last year hosted close to four million visitors. The New York Skyride is
located on the second floor of The Empire State Building and consists of a duplex motion simulator theater and adjoining theme store that provides a virtual and ''zany''
tour of the New York metropolitan area. The Company's second property is ''XS New York'' and is situated in the heart of New York's Times Square. XS New York is
a 22,000 square foot ''next generation'' game arena and corporate event venue. Since its opening in March 1997, XS New York has hosted major promotional events on
behalf of leading companies within the fashion, technology and entertainment industries.
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