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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: vagabond who wrote (14565)	8/26/1999 9:56:00 AM
From: LANCE B	Read Replies (2) \| Respond to of 108040

GNEN- also jumped on this news (COMTEX) B: Generation Entertainment Signs Letter of Intent to Acquir B: Generation Entertainment Signs Letter of Intent to Acquire E Music Productions, Inc.; Creating a New Frontier Offering 'Garage Bands' a Rare Opportunity to be Discovered DETROIT, Aug 26, 1999 (BUSINESS WIRE) -- Generation Entertainment Corporation (OTC BB: GNEN) announced today it has signed a letter of intent to acquire E Music Productions, Inc, the first Internet recordlabel. Generation Entertainment is in the final stages of negotiations to purchase the first Internet record company; a major departure from the traditional "brick and mortar," high maintenance, labor intensive, and costly structures of the past. This bold new initiative will take Generation Entertainment into the new millennium, as the Company dedicates much of its experience, talent, and resources to their new revolutionary Internet technology and e-commerce. "The Company is mindful that more than 55% of the population in North America is on-line and that e-commerce is becoming more the shopping norm than the exception and by the year 2003, it is projected that Internet sales will have produced approximately $654.3 billion dollars." stated Mr. Sam Rodenberger, CEO of Generation Entertainment. Upon completion of the acquisition, there will be an immediate campaign to give the new label brand-identity, including cross marketing with Generation's on-line record store at www.CDMusic.com. That site will also undergo modifications to increase its capabilities for customer convenience and functions. Generation Entertainment is also seeking to improve corporate communications with its shareholders. A professional public relations and investor relations firm will be hired to keep the company's faithful and committed investors well informed. Forward looking statements in this release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products andtechnological change, the company's dependence upon third-party suppliers, intellectual property rights and other risk detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission. Copyright (C) 1999 Business Wire. All rights reserved. -0- CONTACT: Generation Entertainment Corp. Tahnee Berger, 917/677-0547 WEB PAGE: businesswire.com GEOGRAPHY: ARIZONA INDUSTRY CODE: ENTERTAINMENT RETAIL Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page.