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

To: Kelly Igou who wrote (4720)	9/16/1999 12:35:00 PM
From: TerriB	Read Replies (1) \| Respond to of 4767

Hero's WaterWorld Announces 22 Percent Cash Flow for '99 Season HOUSTON--(BUSINESS WIRE)--Sept. 16, 1999--Entertainment Technologies & Programs Inc. (OTC BB:ETPI) announced that its Hero's WaterWorld Park achieved aggressive revenues in its first partial year of operations. Revenues for the '99 season were in excess of $490,000, with preliminary numbers showing a positive cash flow of 22%. These revenues more than offset two months of pre-opening costs in April and May. 2000 season revenues are budgeted to exceed $1 million, with cash flow increasing by 32% based on this year's performance and the hands-on management of Mark Madamba, president of ETPI's Stargate Entertainment division. "In 2000 we will have the advantage of a full operating season, more streamlined operations and a complete marketing campaign, which we are starting now," commented Mr. Madamba. "During the off season we will also improve the park's physical infrastructure and add a new attraction, which will enhance the new image of the park and ensure renewed attendance." The Hero's business model is based on revenue from several key sources. Hero's has implemented a ticketing strategy for 2000, including season pass and discount programs to maximize admission revenues and in-park spending. Significant revenues are generated by programs such as private and corporate party bookings and food concessions from restaurant items to impulse snack kiosks and vending machines strategically located throughout the facility. Substantial gift shop sales are also scheduled for 2000 with a more targeted selection of merchandise. In addition, sponsorships from large and small companies are a principal source of revenue. This year, several major corporations bought sponsorships at Hero's, including Southwest Airlines (NYSE:LUV), Bank One (NYSE:ONE), and Chevron USA (NYSE:CHV). A comprehensive, year-round marketing campaign is scheduled to support Hero's branding, exposure and attendance goals. The campaign will include radio, newspaper and TV spots, for top-of-the-mind awareness, direct marketing to schools, church groups and local companies for group events, and charity events sponsored by the park to enhance affinity relationships. During the '99 season, Hero's sponsored charity events for the Muscular Dystrophy Association, Big Brothers and Big Sisters of America, and the United Way. Stargate owns and operates the 18-acre, branded Hero's WaterWorld Park, between Midland and Odessa, Texas. The successful '99 season and the stronger season scheduled for 2000 support Stargate's expansion plans for the Hero's brand. Hero's is established as a family entertainment destination in suburban markets. These target markets are demographically and geographically peripheral to those of mature competitors like Premier Parks (NYSE:PKS). Hero's seeks to fill a profitable niche as a substitution destination over major market theme parks. As such Hero's represents a major growth catalyst for the parent company, ETPI, as it executes its overall corporate growth strategy. About Entertainment Technologies & Programs Inc. Entertainment Technologies & Programs Inc. is a vertically integrated company that provides a broad range of entertainment services and products through its company divisions. Each of the company's divisions has advantages over competition, including the exclusive AFNAF contract, with the U.S. military enabling divisions, NiteLife, & Performance Sound & Light, to bypass competitive bidding processes in their markets. 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, weather conditions affecting outdoor attractions, completion of a planned funding package, and other risks. CONTACT: Entertainment Technologies & Programs Inc., Houston Fritz Boudreaux, 281/486-6061