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To: Ronald P. Margraf Sr. who wrote (72)	6/15/1999 5:52:00 PM
From: 2MAR$	Read Replies (1) \| Respond to of 144

(BSNS WIRE) Total Entertainment Reports Fourth Quarter 1998 Results Total Entertainment Reports Fourth Quarter 1998 Results Business/Entertainment Editors RED BANK, N.J.--(BUSINESS WIRE)--June 15, 1999--Total Entertainment Inc. (NASD OTC-BB: TTLN) is pleased to announce financial results for the fiscal year ending December 31, 1998 (the "period"). Revenue for the period was $7,636,000, with net revenue of $188,274. Primarily attributed to revenues from the website and processing operated by wholly owned subsidiaries Intercapital Global Fund, Ltd. and Intercapital Canada Ltee. During this period Total Entertainment expended $160,000 in general and administrative expenses due primarily to advertising activities. The company's balance sheet liabilities totaled less than $105,000. The company's EBITDA amounted to $28,000 for the period. The fourth quarter results, reflect the company's first ten weeks of operations, from October 15 through December 31. Financial results for the first quarter ending March 31,1999 will be released in conjunction with the company's filing of the form 10SB with the United States Securities Exchange Commission. Net revenue for the first quarter is expected to show an increase of more than one hundred percent (100%) vs. fourth quarter 1998 net revenue. The company's auditors Raymond, Chabot, Grant Thorton are assessing various Domestic and International tax implications relating to the companys merger into a public company. Along with various tax treaties where the company's subsidiaries are domiciled. President Mitchell Brown stated, "We are pleased to report that the company was able to exceed our growth expectations. We have proven that a start up Internet Company with a solid strategic plan can be profitable. With the addition of slotsvegas.com and our Asian site dragongaming.com, Total Entertainment will continue to see substantial revenue increases for the remainder of 1999. Total Entertainment has achieved their goal in becoming a leader in Internet Gaming and we will continue our leadership into the new Millennium." Total Entertainment Inc. is a debt-free corporation that has experienced explosive growth since its inception. Successful competitors in the exploding online casino and gaming industry include: CryptoLogic (TSE:CRY.TO), GLC Limited (OTC BB:GLXW), Starnet Communications International Inc.(OTC BB:SNMM), GoCall Inc. (OTC BB:GOCA), GIC Global Entertainment Corp. (OTC BB:GGNC), Cybergames Inc. (OTC BB CYGA), Youbet.com (OTC BB:UBET), and Atlantic International Entertainment Ltd. (OTC BB:AIEE). Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks. --30--sw/ny CONTACT: Total Entertainment Inc., Los Angeles Lewis Taylor, 310/575-9505 (Investor Relations) EMAIL: investors@totalentertainmentinc.com KEYWORD: NEW JERSEY INDUSTRY KEYWORD: ENTERTAINMENT COMPUTERS/ELECTRONICS COMED INTERACTIVE/MULTIMEDIA/INTERNET EARNINGS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com