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Non-Tech : Multimedia Games Inc. (MGAM) -- Ignore unavailable to you. Want to Upgrade?

To: Tom Basile who wrote (172)	12/28/1998 7:49:00 PM
From: Gravitar	Read Replies (1) \| Respond to of 197

Multimedia Games to Launch Internet Gaming Product December 28, 1998 07:32 PM AUSTIN, Texas, Dec. 28 /PRNewswire/ -- Multimedia Games, Inc. MGAM of Austin, Texas announced today that the company had made a decision to offer MGAM's interactive high-stakes bingo games to off-shore bingo players through the internet. "We tested the concept of internet gaming with MegaBingo, our satellite bingo game, in 1997 and early 1998. We found that there are many people on the internet who enjoy playing bingo, but they prefer to play games for an extended period rather than only one game per day, which is the schedule for MegaBingo. One site presently offering promotional games, claims to have more than ten million members and enjoys more than one million visitors per month. Our high speed games, MegaMania, FlashCash, and others are available 24 hours per day and offer the type of fast action and frequent prizes that we concluded players prefer. The off-shore participants will actually be using a proxy at the bingo hall to play bingo on their behalf through MGAM's proprietary electronic proxy player aid. MGAM was issued a patent for the electronic proxy player in November, 1998. The invention is an electronic agent, which allows the on-site proxy to play bingo on behalf of many off-site customers in accordance with the unique strategies of each of those customers. MGAM also intends to offer off-shore customers its racing product. Customers in the United States will not be allowed to participate in these high-stakes interactive games via the internet, however, MGAM is planning to launch a free version of the internet games played for promotional merchandise prizes for domestic internet players. MGAM will derive revenue through a unique proprietary advertising concept that integrates banner advertisements as part of the game. The off-shore launch is scheduled for February, 1999." Multimedia Games, Inc., through its wholly owned subsidiary MegaBingo, Inc., has contracts with over 50 Native American Indian nations to provide linked games that are integrated among multiple halls. Multimedia Games, Inc. is the nations leading provider of linked, high-stakes bingo games, electronic interactive bingo games, and associated data processing services and products to the Native American gaming industry. These comments, including any statements predicated upon or preceded by the words "potential", "believe", and "should", are considered "forward looking statements" within the meaning of Federal and state securities laws. Such statements are subject to a number of uncertainties that could cause the actual results to differ materially from those expected, including but not limited to, those described under "Item 1. Description of Business-Risk Factors" contained in the Company's Annual Report on form 10-KSB for the fiscal year ended September 30, 1998, which are incorporated herein by this reference. SOURCE Multimedia Games, Inc