To: Ga Bard who wrote (982 ) 10/21/1997 10:39:00 PM From: BIll Respond to of 8835
Here's JNNE's release JNNE NEWS RELEASE Jones Naughton Entertainment Enters New Business Venture With RoyalWest SalesLOS ANGELES--(BUSINESS WIRE)--Oct. 21, 1997--Jones NaughtonEntertainment Inc. (JNE) (NASDAQ BB:JNNE), a pioneer in producingvideo satellite networks for private industry, Tuesday announced ithas joined Royal West Sales Inc. of West Hills, Calif., in forming anew business venture to develop business opportunities in consumerelectronics, consumer financial services and computer-relatedventures. Prior to initiating the newly formed venture, the parties workedtogether to develop a financial services agreement between CostcoWholesale and a leading residential real estate computer loanoriginator under the direction of Gary Stines, executive vicepresident of Royal West. Stines along with Michael Fishman, president, are the principalsof Royal West Sales Inc., whose company is a sales representative andconsultant to worldwide consumer electronics enterprises which includeOrion Electronics, TEAC Consumer Products, Kiwi Computers and SansuiElectronics, among others. Naughton elaborated on JNE's previously announced consulting agreement to aid and assist in the development of real estate Internet services in Mexico which has now been expanded to include Indonesia: "We expect the net effect of this agreement will allow Jones Naughton to earn significant revenues in the second quarter of 1998. We expect the agreement with Royal West will net Jones Naughton more than $750,000 in new assets for the company by the first quarter of 1999 and the company's estimated bottom-line net income will be increased by some $250,000 per annum beginning in the third quarter of 1998." --30--krh/sd* CONTACT: Jones Naughton Entertainment Inc., Los Angeles 24-hour toll-free investor information, 888/209-7223 213/466-1892 (fax) or Lynde Consulting, San Diego Joseph Lynde, 619/551-9250 619/551-9832 (fax) or Royal West Sales Inc., West Hills Michael Fishman, 818/587-5440 818/710-6664 (fax)