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Non-Tech : .COM Entertainment Group Inc. (DCEG) -- Ignore unavailable to you. Want to Upgrade?

To: count11 who wrote (48)	12/6/1999 1:05:00 PM
From: Benjamin Ng	Read Replies (1) \| Respond to of 65

December 6, 1999 NEWS RELEASE dot com Entertainment Group Inc. Olympic Tower, 300 Pearl Street, Suite 200 Buffalo, New York 14202 dot com announces "turn-key" license agreement of Bingo software BUFFALO, NY: DECEMBER 6, 1999 - dot com Entertainment Group, Inc. ("dot com") (OTCBB: DCEG) a fully-reporting Internet technology company, announced today that it has entered into a preliminary license agreement with Azul Electrico S.A., of San Jose, Costa Rica ("Azul") to develop and implement a complete Internet Bingo system for use by Azul as a companion product to its Internet casino and sports book operations. The agreement provides for the completion of a formal license agreement on or prior to December 15, 1999 and a start-up date of February 15, 2000. For its development and license of its award winning Bingo technology, dot com will receive a royalty payment from Azul, which will extend over the life of the license agreement and will continue as long as the software is used by Azul. Azul operates Internet casino and sports-book operations from Costa Rica, and boasts significant player activity at its web locations. The company will add dot com's Bingo technology to its suite of on-line entertainment products, catering to player demand for low-denomination entertainment products and systems. dot com will benefit from this arrangement through enhanced revenue steams and royalty income. It will also realize additional corporate branding and marketing and promotional benefits as its software is used and reviewed by additional player-bases. The agreement with Azul is one of many license agreements which the company would like to consummate over the next few months. This agreement allows dot com to further realize on its business model which is to be the leading supplier and first mover of Bingo and low-denomination Internet technology. Azul will supply its own e-commerce, banking, marketing and related operational services, with dot com providing support and maintenance throughout the license agreement. "The key reason for the exhibition of our award winning Bingo technology at the Third Annual Symposium on Internet Gambling Law & Management in London, United Kingdom was to provide Internet casino operators and other software suppliers with a demonstration of our showcase technology" said Glenn Scott dot com's Marketing Director "in addition to finalizing the preliminary terms of our agreement with Azul, the Symposium gave us an excellent opportunity to show prospective licensees how on-line Bingo and other low-denomination software products will improve their existing on-line Casino operations and cash-flow. It also became very evident that Europe is a huge growth opportunity for dot com as a first mover in this business sector." The dot com web site can be visited at www.dceg.com. This site has links to the CyberBingo? game system (www.cyberbingo.net), which operates 24 hours per day, 120 games each day, and is played by players from countries throughout the world. dot com has taken steps to expand the reach of its Internet and commercial software throughout 1999 and 2000 to become a leading provider of Internet entertainment software products and services. FOR FURTHER INFORMATION PLEASE CONTACT: Scott White, President at dot com Entertainment Group, Inc.: (416) 366-1444 (swhite@decg.com) Investors Contact: Juan Dominguez & Dian Griesel, Ph.D. at The Investor Relations Group: (212) 736-2650 This press release may contain forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates