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Microcap & Penny Stocks : ETPI-Military Entertainment Enters Civilian Market -- Ignore unavailable to you. Want to Upgrade?

To: Safe Cents who wrote (4712)	8/31/1999 10:45:00 AM
From: TerriB	Read Replies (1) \| Respond to of 4767

ETPI Announced Three New Contracts for its NiteLife Entertainment Division HOUSTON--(BUSINESS WIRE)--Aug. 31, 1999--Entertainment Technologies & Programs Inc. (OTC BB:ETPI) ("ETPI" or the "Company") announced that its profitable NiteLife division has added three military bases as part of its market expansion program. New contracts came from Beale AFB in California, RAF Lakenheath in England and Fort Bragg in North Carolina. Combined, these three contracts are worth more than $1,200,000 over 5 years. These three contracts will add to the consistent cash flow generated by NiteLife Entertainment, which forms the foundation for ETPI's growth. These revenues allow the Company to finance its growth without depending too heavily on outside sources. NiteLife is on target to reach $2.7 million in annual revenues this year, a 12% increase over 1998. Revenues next year are expected to reach $4 million, a 46% increase over 1999, with similar increases scheduled over the next 5 years. NiteLife is currently pursuing several additional opportunities as part of its market expansion program. NiteLife Entertainment provides a wide variety of entertainment programs and services to military base clubs by installing audio and video equipment including custom-built disc jockey booths, top-of-the-line mixing consoles and several television monitors for music video and DVD. NiteLife installs and maintains company-owned equipment. Each military base agrees to a minimum number of utilization hours per contract. NiteLife has also been named "Prime Vendor" for the U.S. Army's Sports USA concept, which amounts to an endorsement by U.S. Army Headquarters. When the Army installs a new Sports USA club on one of its bases, NiteLife is contracted to provide its services. The Fort Bragg installation is the fourth of this partnership with Fort Polk, Louisiana, slated for later this year. The Sports USA partnership opens an entirely new avenue for expansion for NiteLife without overlapping with existing installations. NiteLife adds additional value to its turnkey-recorded music and video DJ contracts by offering live performances, produced through its sister company, Vision Quest Productions. ETPI's Performance Sound & Light division also benefits from NiteLife's military relationships through sales of sound and lighting equipment to U.S. military bases around the world. Forward-looking statements in this press 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 popularity of entertainment facilities, increased levels of entertainment competition, completion of a planned funding package, and other risks. CONTACT: Entertainment Technologies & Programs Inc., Houston Fritz Boudreaux, 281/486-6061