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To: Jim Bishop who wrote (9277)	9/10/1999 10:15:00 AM
From: SSP	Read Replies (1) \| Respond to of 150070

PHIC - Powerhouse Completes Acquisition BEVERLY HILLS, Calif., Sept. 10 /PRNewswire/ -- POWERHOUSE INTL (OTC Bulletin Board: PHIC - news) announced today the acquisition of an international investment holding company. The most prominent asset owned by the holding company and the target of Powerhouse's acquisition is the famous Chasen's restaurant located in the heart of Beverly Hills. Through this acquisition PHIC now owns a controlling interest in Chasen's and holds the Management Contract for the noted establishment. Chasen's is famous for its ``Hollywood Heritage.' It has been and continues to be one of the most recognized eating and entertainment establishments in Beverly Hills/Los Angeles. Powerhouse intends to build on the brand and use the facilities to pursue the Company's new focus of Internet broadcast in the entertainment and related fields. Chasen's is a gourmet restaurant that is known for it's ``chili, cheese toasts, seafood on ice and other treats.' Contained within Chasen's is the famous private ``Jockey Club' where the powerbrokers and stars come to drink, dance and smoke. The ``smoking club' license held by the Jockey Club is a difficult commodity to acquire in the Beverly Hills/Los Angeles environment, therefore enhancing the value of the club. The Jockey Club room is also known as one of the ``most beautiful party rooms' in the city. It was recently featured on the cover and lead article in Leading Estates of the World, magazine, current edition. The restaurant and club are located at 246 N. Canon Dr., Beverly Hills, CA. ``Safe-harbor' statement: Certain statements in this release are ``forward-looking' statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital. SOURCE: Powerhouse Intl.