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To: Joe Copia who wrote (12553)	6/16/1999 8:34:00 AM
From: Wayne Rumball	Read Replies (1) \| Respond to of 13776

Woooohoooo!! WICHITA, Kan., June 16 /PRNewswire/ -- Andros Hotels & Casinos, Inc. (OTC Bulletin Board: ADHCE) announced today that for the Company's fourth quarter ending June 30, 1999, the Company will report an unrealized gain on investment securities of approximately $9,140,000 or about 16-cents per Andros share. The Company said that it had previously purchased 1,180,000 restricted common shares of AutoAuction.com, Inc. (OTC Bulletin Board: AAAC) which closed Tuesday at $8.00 bid per share, resulting in a market value of about $9,440,000. The Company said that the market value of the stock will result in the Company reporting an "unrealized gain" of about $9,140,000 or about 16-cents per Andros common share. The Company explained that the term "unrealized gain" is a profit "on paper" and that for the gain to become a "realized gain" the shares would have to be sold for cash. Although the Company intends to sell the shares in the future, either through open market transactions or through private transactions, it does not expect to sell the shares in the near term as Andros management feels the AAAC shares will bring a higher price in the future. The Company did, however, want its shareholders and the investment community to know about the unrealized gain, which the Company plans to report when its June 30, 1999 audit has been completed. The Company expects to have that audit completed and reported to its shareholders between July 31, 1999 and August 31, 1999. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of Andros Hotels & Casinos, Inc., to accomplish its stated plan of business. Although Andros Hotels & Casinos, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Andros Hotels & Casinos, Inc. or any other person that the objectives and plans of Andros Hotels & Casinos, Inc. will be achieved. Andros Hotels & Casinos, Inc. common stock is traded in the over-the-counter market under the trading symbol "ADHCE". To receive a current Corporate Profile and complete due diligence package on the Company, please call Fifth Avenue Communications at 800-992-6616 or visit their web site at: www.stocksfifthavenue.com (like "SAKS Fifth Avenue" only its "stocksfifthavenue") or e-mail a request for information to: fifth@juno.com SOURCE Andros Hotels & Casinos, Inc. -0- 06/16/99 /CONTACT: Jeffery N. Young, President of Andros Hotels & Casinos, Inc., 316-688-0800; or Deana Wilson of Fifth Avenue Communications, 800-992-6616, for Andros Hotels & Casinos, Inc./ (ADHCE)