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Microcap & Penny Stocks : The Henley Group, Inc. (HNLY) undervalued growth company -- Ignore unavailable to you. Want to Upgrade?

To: Shake-Man who wrote (967)	3/17/1998 2:05:00 PM
From: Trooper	Respond to of 2232

More news just out on ETPI. Entertainment Technologies & Programs Inc. Makes Merger Announcement HOUSTON--(BUSINESS WIRE)--March 17, 1998--Entertainment Technologies & Programs Inc. (OTC:ETPI), a fully-integrated entertainment and amusement gaming company, today announced that a merger was completed with Chacho's TexMex Restaurants. Chacho's has two locations: NASA Road One, in the Clear Lake area, and the corner of Scarsdale and Beamer in the Sagemont area of Houston. Commenting on the merger, James "Doug" Butcher, chairman and CEO said, "This is another step in our continued efforts to gain more civilian-based locations. At the Chacho's Scarsdale location there is an additional 6,000 square feet of space that is not built out that will serve as an additional family entertainment center for the company. Adding another entertainment venue will substantially increase the revenue of the restaurant and will increase cash flow and profitability for the Company without any additional cost of real estate." The additional assets to complete the build-out of the adjacent space is already in inventory for the Company. This is the platform needed for deployment of those assets. This 6,000 sq. ft. facility will be the second civilian entertainment center for the Company opened this year with the goal of opening five additional locations this year. These two locations will add revenue of approximately $1.2 million in 1998. This, added to the recent Hero's acquisition, will increase 1998 revenues by an estimated $2 million. More details regarding terms and corporate developments are forthcoming. Entertainment Technologies & Programs is a government-approved supplier of entertainment services on U.S. Military bases worldwide. The Company has an AFNAF (Air Force Non-Appropriated Funds) contact. Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. CONTACT: Entertainment Technologies & Programs Inc., Houston Pete Cahill, 281/486-6061 KEYWORD: TEXAS BW1366 MAR 17,1998