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Gold/Mining/Energy : Int'l Thunderbird Gaming (INB) -- Ignore unavailable to you. Want to Upgrade?

To: Michel Landry who wrote (524)	1/11/1999 2:58:00 PM
From: lwk	Read Replies (1) \| Respond to of 603

NEWS RELEASE FOR: INTERNATIONAL THUNDERBIRD GAMING CORPORATION VSE, TSE SYMBOL: INB JANUARY 11, 1999 Thunderbird Updates Operations and Development SAN DIEGO, CALIFORNIA--International Thunderbird Gaming Corporation (TSE and VSE - INB) announces that the Fiesta Casinos' 31-day revenue for the month ending December 1998 period was USD$1,792,456 for its four Fiesta Casinos in the Republic of Panama. This financial data covers the period beginning December 1 through December 31, 1998, when the El Panama Casino, Soloy Casino, and Hotel Washington Casino- Colon operated for the entire 31-day period and the Hotel Nacional Casino-David operated for 19 days from its opening on December 13, 1998. The Fiesta Casino revenue continues to exceed the Company's expectations. Business activity continued to grow in December. Actual revenue in December decreased due to a lower winning percentage on table games. The winning percentage in November was above industry norms while the December winning percentage is more consistent with industry norms. This is evident by a comparison of the patron dollars that flowed into the casinos in November and December. Patrons played $305,529 of additional cash into the slot and table games in the month of December over the amount in November. The Company continues to increase its market share in both table games and slots. The Company also announces the signing of a lease agreement between the Hotel Conquistador Ramada (The Ramada Hotel), a premier hotel located in Guatemala City, and the Fundacion Pediatrica de Guatemala. As operating contractor to the Fundacion Pediatrica de Guatemala and ILAC, Thunderbird intends to pursue the construction of a video gaming parlor and operate 100 video lottery terminals within the Ramada. Tenant improvement will be paid by the existing VLT operation in Guatemala as the Company does not need to look to outside sources to fund the construction costs. The 100-video lottery terminals are part of the Company's existing inventory of machines. The Ramada Hotel site is the Company's second VLT location in Guatemala. The existing site is located in the Camino Real Hotel in Guatemala City and is experiencing a steady amount of revenue. The Company continues to pursue opportunities in Central and South American licensed jurisdictions. International Thunderbird Gaming Corporation is an owner and manager of international gaming facilities. Additional information about the Company is available on its World Wide Web site at www.intltbird.com On behalf of the Board of Directors, Jack R. Mitchell, President and CEO Cautionary Notice: This release contains forward-looking statements reflecting the Company's expectations or beliefs concerning future events which could materially affect Company performance in the future. The Company cautions that these similar statements involve risk and uncertainties and are qualified by important factors, including competitive pressures, unfavorable changes in regulatory structures, and general risks associated with business, which could cause actual results to differ materially from those in the forward looking statement. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur. -30- FOR FURTHER INFORMATION PLEASE CONTACT: International Thunderbird Gaming Corporation Investor Relations (619) 451-3637 or 1-888-451-3637 Website: www.intltbird.com E-mail: info@intltbird.com