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Pastimes : The OTCBB Garbage Dump -- Ignore unavailable to you. Want to Upgrade?

To: Tom Allinder who wrote (1800)	9/7/1999 12:52:00 PM
From: Jetta	Read Replies (1) \| Respond to of 2942

EVCM news............ e-vegasgaming.com Tuesday September 7, 11:51 am Eastern Time Company Press Release E-Vegas.com Inc. Announces Entry into Horse Race Gaming and Progress in Telecom Business Developments VANCOUVER, B.C.--(BUSINESS WIRE)--Sept. 7, 1999--E-Vegas.com Inc. (OTC BB:EVCM) is pleased to announce that they are further broadening their gaming interests by entering into the horse race wagering business in Costa Rica. The agreement to operate the only horse track gaming venture in Costa Rica will be under the license of the Gran Hotel's sports book and gaming operation. The Gran Hotel is one of the major tourist and foreign business hotels in downtown San Jose. It's primary clientele is American, Canadian and Costa Rican business people. ''This new venture into the horse race gaming business provides us with an additional foothold in the Costa Rican gaming business. It will also position us to promote our other gaming ventures, especially the sports book business, to the people that traditionally make significant wagers on track betting.'', stated Ed Gallagher, President. This exclusive arrangement will require E-Vegas.com Inc. to make an initial capital investment in systems upgrades including two satellite dishes that will offer Gran Hotel clientele with exclusive access to horse track wagering. The Company will also provide the owners of the Gran Hotel with a monthly alliance fee of 10% of gaming proceeds. The horse racing is to be conducted using a Pari Mutual system. Telecommunications Business Developments: In other developments, the Company is pleased to announce that they are making good progress in negotiations to further develop their telecom business in Costa Rica. ''We are on-track in negotiations with major organizations and agencies in the region to significantly expand our telecom business under our subsidiary Global E-Comm S.A. We hope to announce the conclusion of negotiations shortly,'' said Ed Gallagher, President of E-Vegas.com Inc. Earlier this month, the Company announced that they will become the only private non-government international telecommunications carrier and Internet bandwidth provider in Costa Rica. The first project involved entering into an agreement to provide and manage the fibre optic telecom services for two new building projects in San Jose. The first project, which has just been completed, has the Home Shopping Channel as one of its tenants. The first building is expected to be completely utilized by February 2000. Each of the building projects are expected to utilize approximately 300 internet, telephone and data line connections. The business of providing and reselling telecommunications services to businesses in these projects will generate substantial revenue and profits for Global E-Comm S.A. The remaining revenue generation and potential profit margins for telecommunications reselling once the first full project utilization are achieved are as follows: Revenue of $4.1 ($US) million and net profit before taxes of $2.95 ($US) million ''We are confident that the deal we are working on now will be consistent with the scale of the project we announced earlier in August'', declared Ed Gallagher. About E-Vegas.com Inc. E-Vegas.com Inc. (TM) is a casino and gaming business based in Costa Rica. The first element of its business is the establishment of an online casino and gaming business at www.e-vegasgaming.com . The Company is also in the process of developing related businesses including telecommunications ventures and e-commerce business that will enhance its overall growth and profit potential in Costa Rica. Frost & Sullivan estimate that wagering via the Internet was approximately $1 billion in 1998. Gaming consultants Christinansen/Cummings estimate Internet wagering to reach $2.3 billion by 2001. The Financial Times has estimated that the Internet gaming market will yield annual net earnings of US$10.2 billion by the year 2002. Playboy and Harrah's are now entering the sector. This press release contains forward-looking statements with respect to the results of operations and business which could be materially different from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports to be filed with the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: E-Vegas.com Inc. Tony Markus, 877/815-3238 or 604/608-6828 www.e-vegasgaming.com