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To: Gravitar who wrote (641)	2/18/1999 9:57:00 AM
From: Logistics	Read Replies (1) \| Respond to of 9115

TPEG / TPEGW - PR NEWSWIRE) The Producers Entertainment Group Announces flowersandgifts. The Producers Entertainment Group Announces flowersandgifts.com to Go On Line; Web Site to Be Launched Week of February 22, 1999 LOS ANGELES, Feb. 18 /PRNewswire/ -- The Producers Entertainment Group Ltd. (Nasdaq: TPEG; BSE: TPG), announced today that flowersandgifts.com, its first internet equity investment, has scheduled to launch its on-line web site the week of February 22, 1999. flowersandgifts.com, based in Minneapolis, MN, is initially entering the $15 billion U.S. annual floral industry with Phase #1 of their all new convenient web site, which will offer consumers the ability to purchase and ship flowers and gifts easily in many countries throughout the world. flowersandgifts.com currently intends to launch Phase #2 of the web site in May, which will add numerous unique features that bring to the floral and gift consumer a full-service shopping experience and a level of customization, entertainment and education not available anywhere else on the Internet. As part of the Company's business plan the Company has already entered into an agreement with Connors Communication, the PR firm that launched Amazon.com. According to Irwin Meyer, TPEG's CEO, "The key factor that generated significant interest from TPEG and prompted our equity investment was that the flowersandgifts.com site included various unique 'applications' or features that are based on proprietary flowersandgifts.com technology. Examples of these applications which will appear in Phase #2 of the web site are a Virtual Shopping Assistant(TM), Virtual Gift Basket Designer(TM) and a Virtual Floral Designer(TM) that allow e-commerce customers to customize their purchase. Around this underlying engine is an 'application program interface' that enables multiple graphical-user-interfaces, or web sites, to interface with the same engine." Don Rosacker, President/CEO of flowersandgifts.com further noted, "Our basic strategy is to have a proprietary e-commerce technology that will be used to gain rapid coverage of the floral and gift internet market through a network of storefronts across the web that all interface with the same engine. One of these storefronts, or web sites, will be our internationally-branded site called flowersandgifts.com." Rosacker, earned his B.S. degree in Computer Science and spent the last 15 years primarily in the software business, during which time he founded and ran Daedal Systems, Inc., a firm which pioneered PC-based statistical process control software. Four years ago Rosacker purchased his family's regional flower business, which was founded in 1902. Having been raised in the business and educated in computer software, he combined both backgrounds to create flowersandgifts.com. To develop the underlying engine and multiple storefronts, the Company retained the services of Key Tech LLC, a Web site development house, and Aisle5ive, an interactive design firm, who have developed Internet technologies, e-commerce systems and Web sites for clients such as the IRS, American Express, Royal Caribbean and 3M. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include statements about the timing of the launch of the initial web site and the launch of Phase #2, as well as the Company's expectations of the success of flowersandgifts.com. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including competition in the floral industry and on the internet and the success of the launch, among other things. This and other risk factors are discussed in the Company's filings with the Securities and Exchange Commission (including the Company's Annual Report on Form 10-KSB). The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise. SOURCE The Producers Entertainment Group Ltd. -0- 02/18/99 /CONTACT: Irwin Meyer of The Producers Entertainment Group Ltd., 323-634-8634/ (TPEG) CO: Producers Entertainment Group Ltd.; flowersandgifts.com ST: California, Minnesota IN: REA MLM SU: PDT * end of story * ------ Previous ------ Previous